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In its report on GM’s new new new new new new turnaround plan, Reuters reminds us that GM’s going to the well one more time—before it goes to the well again.
The automaker said it expected to draw another $2.6 billion from the U.S. Treasury before a June 1 deadline set by the Obama administration for it to reach agreements with all of its key stakeholders.
9 Comments on “Oh and By The Way . . ....”
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And they just announced a 100 for 1 reverse stock split. Wait until that happens to the US dollar
This is a never ending story for GM this time and Ford in due course I would think, it will never end!
Cool picture. Are those pallets of $20 bills or $100 bills? I wish I could try my hand at burning through 2.6 billion in one month, I bet I could stimulate the economy instead of just toss in in bon fire.
The picture is from a larger slideshow that shows what a trillion dollars looks like. Imagine a warehouse stacked two high with pallets of 100 dollar bills.
I doubt greek mathematicians had numbers that ran to a trillion.
// The picture is from a larger slideshow that shows what a trillion dollars looks like. Imagine a warehouse stacked two high with pallets of 100 dollar bills. //
Now imagine that being taken from us taxpayers and given to the leaders of failed banks and automotive companies that ran their businesses into the ground…
We don’t have to imagine it. They did already.
So are they still pretending to call it a loan, or have they finally dropped the pretense of paying the money back, like Chrysler?
Yes, Redbarchetta, but what if, at the end of that month, you weren’t allowed to hold any assets of any monetary value?
Brewster’s Billions!
Oh wait, you’d just buy Chrysler or something, nevermind!
The picture is from a larger slideshow that shows what a trillion dollars looks like. Imagine
They had the real version of this during the aftermath of the iraq war.
Tons, literally, of cash was flown by cargo plane to pay reconstruction contracts.
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I bet I could stimulate the economy instead of just toss in in bon fire.
This money includes payment of wages.
Although the way that splits in the auto industry, we’re prolly better off paying the employees directly and cutting the loss on the cars.