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HomeOff Topics News & Politics › An American Auto Bailout - For France?
03-09-2012 04:49 PM  6 years agoPost 1
VKGT

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Sanford, NC

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What is GM doing........ Stuff like this might not have happened if our government didn't take it upon themselves to use our tax money to bail them out

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http://news.yahoo.com/american-auto...--abc-news.html

Attention U.S. taxpayers: You now own a piece of a French car company that is drowning in red ink.

That's right. In a move little noticed outside of the business pages, General Motors last week bought more than $400 million in shares of PSA Peugeot Citroen - a 7 percent stake in the company.
Because U.S. taxpayers still own roughly one-quarter of GM, they now own a piece of Peugeot.

Peugeot can undoubtedly use the cash. Last year, Peugeot's auto making division lost $123 million. And on March 1 - just a day after the deal with GM was announced - Moody's downgraded Peugeot's credit rating to junk status with a negative outlook, citing "severe deterioration" of its finances. In other words, General Motors essentially just dumped more than $400 million of taxpayer assets on junk bonds.

GM has said the deal is designed to give GM access to Peugeot's expertise in small car and hybrid vehicle technology and ultimately allow both GM and Peugeot to save money by pooling their resources. But auto industry analysts find the deal mystifying.

An analysis by auto industry consultants IHS said it is "somewhat baffling that GM is willing to get involved in an alliance that it frankly does not need for size or complexity, while still avoiding any public plan to rationalise its European production, cut costs, or deal with labour rates."

The deal will allow the Peugeot family to reduce its share of the family business. The family, which Forbes estimated to be worth more than $2 billion, still owns about 30 percent of the company. The Peugeots declined the opportunity to buy a piece of GM.

GM's European operations have not enjoyed the same kind of rebound as its US operations. In fact, GM's European operations, primarily the carmaker Opel, lost more than $700 million last year.

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03-10-2012 02:07 AM  6 years agoPost 2
baby uh1

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St. James, Mo.

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Sounds like another "buisness" decision from the whitehouse.

Anything is possible if you don't know what you are talking about!

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03-10-2012 03:02 AM  6 years agoPost 3
VKGT

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Sanford, NC

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That's the truth!

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03-11-2012 08:02 PM  6 years agoPost 4
shawmcky

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Isle of Wight,United Kingdom

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U.S rebound?So the bail out was worth it??

Team- unbiased opinion.K.I.S.S principle upheld here

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03-11-2012 09:52 PM  6 years agoPost 5
es1co2bar3

rrKey Veteran

winnetka california

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If they're going to pay us back twice as much as we loan them
then i say go for it, only hope they'll give me something on my tax return. for not crying fowl on any argreement, that they came to as a tax player

I was waiting on some honey but there aren't no Queen bee,

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03-11-2012 10:39 PM  6 years agoPost 6
VKGT

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Sanford, NC

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I'd have never bailed out GM and then gave even more money for that ridiculous Chevy Volt. Let 'em die and take Chrysler with 'em.

I'll have my Ford, thank you

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03-12-2012 02:53 AM  6 years agoPost 7
RayJayJohnsonJr

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Midwest

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Let 'em die and take Chrysler with 'em
+1

There, their and they're. It's really that simple.

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03-12-2012 03:02 AM  6 years agoPost 8
es1co2bar3

rrKey Veteran

winnetka california

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and put more american out of work. letting these plant fail
not a wise thing to do.

I was waiting on some honey but there aren't no Queen bee,

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03-12-2012 04:25 AM  6 years agoPost 9
baby uh1

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St. James, Mo.

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So you are for corporate welfare now?

Anything is possible if you don't know what you are talking about!

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03-12-2012 04:31 AM  6 years agoPost 10
es1co2bar3

rrKey Veteran

winnetka california

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Hell yea"==== this is about the wise VS stupidity
you already have milllions of folks out of work, how could you
not save the auto maker to keep another few million more folk on
the job. And not add more pressure to the economic woe((((.
this is commonsence to me,

I was waiting on some honey but there aren't no Queen bee,

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03-12-2012 04:44 AM  6 years agoPost 11
Dennis (RIP)

rrApprentice

Oregon

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Hell yea"==== this is about the wise VS stupidity
you already have milllions of folks out of work, how could you
not save the auto maker to keep another few million more folk on
the job. And not add more pressure to the economic woe((((.
this is commonsence to me,
Corporate welfare is the same as other welfare.

When the government spends more than it takes in, that devalues the dollar.

When the value of the dollar is devalued, more and more people are out of work.

That explains why, right now, we have over an 8% unemployment for the longest period of time in US history.

Thats recorded unemployment. The folks that have given up looking and used up their unemployment are not included in tat 8%. Real unemployment is well over 11%.

Among minorities it is unspeakably high unemployment. And, its going to get worse for them.

Liberty once lost, is lost forever.

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03-12-2012 05:11 AM  6 years agoPost 12
VKGT

rrElite Veteran

Sanford, NC

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how could you
not save the auto maker to keep another few million more folk on
the job
Then why is GM giving it to France instead of making/preserving jobs in our own country???

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03-12-2012 05:15 AM  6 years agoPost 13
Dennis (RIP)

rrApprentice

Oregon

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Then why is GM giving it to France instead of making/preserving jobs in our own country???
Or, pay back the American tax payer for bailing them out of their failures?

Liberty once lost, is lost forever.

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03-12-2012 05:22 AM  6 years agoPost 14
baby uh1

rrVeteran

St. James, Mo.

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Chysler took their bailout money and closed their plants in the USA and moved their operations to Mexico and Canada. The St.Louis plant is now a hugh empty lot!
So how did that save our jobs?

Anything is possible if you don't know what you are talking about!

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