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Open Discussion Discuss Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead at the General Forum; Originally Posted by AZRWinger Don't forget the robbery of the GM and Chrysler stockholders to facilitate the government directed redistribution ...

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Old 11-29-2018, 11:06 AM
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Default Re: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

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Originally Posted by AZRWinger View Post
Don't forget the robbery of the GM and Chrysler stockholders to facilitate the government directed redistribution scheme. Obama's minions transferred the bulk of Chrysler's assets to a shell corporation leaving bankruptcy court to pick over the remainder as compensation for the stockholders and bond owners. Fiat received a thick slice of Chrysler equity for zero capital investment. The UAW got equity in both Chrysler and GM for no investment. The taxpayers got the bill.

Neither the UAW nor Fiat felt any obligation to repay the taxpayer for bailing out the company. A couple years later GM passed out employee bonuses averaging $7K on top of the highest compensation packages in the industry. The taxpayers saw no relief as we continued to pay debt service on the funds borrowed to bailout the company.
BINGO!

The GM bailout was nothing but a handout to the Unions from the Obama admin on the backs of the taxpayers. I consider it theft by Obama.
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Old 11-29-2018, 01:20 PM
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Default Re: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

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Originally Posted by cnredd View Post
Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

I guess those millions he made from book sales (as president) wasn't enough for him to "make good on the promise"...

I'm guessing he's probably relieved...
Yeah, it's too bad that Trump killed the Volt and is apparently going to lose 15,000 manufacturing jobs with GM's announced plant closures. Trump didn't do too well at Carrier either where the manufacturing jobs he once claimed to be saving are now all but gone.
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Old 11-29-2018, 01:30 PM
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Default Re: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

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Originally Posted by AZRWinger View Post
Don't forget the robbery of the GM and Chrysler stockholders to facilitate the government directed redistribution scheme. Obama's minions transferred the bulk of Chrysler's assets to a shell corporation leaving bankruptcy court to pick over the remainder as compensation for the stockholders and bond owners. Fiat received a thick slice of Chrysler equity for zero capital investment. The UAW got equity in both Chrysler and GM for no investment. The taxpayers got the bill.

Neither the UAW nor Fiat felt any obligation to repay the taxpayer for bailing out the company. A couple years later GM passed out employee bonuses averaging $7K on top of the highest compensation packages in the industry. The taxpayers saw no relief as we continued to pay debt service on the funds borrowed to bailout the company.
I've hardly forgotten that. Anymore than I have forgotten that Mitsubishi wanted Chrysler but were non union and so Fiat, which was union, got assets and ... don't forget... $25 Million just to come and look.
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Old 11-29-2018, 01:31 PM
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Default Re: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

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Originally Posted by GetAClue View Post
BINGO!

The GM bailout was nothing but a handout to the Unions from the Obama admin on the backs of the taxpayers. I consider it theft by Obama.
The money didn't come from the Obama Administration. The money for the automotive bailout came from the Troubled Asset Relief Program (TARP) from the Bush Administration. In the end all but about $10 billion was repaid.
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Old 11-29-2018, 02:42 PM
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Default Re: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead

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Originally Posted by ShivaTD View Post
Yeah, it's too bad that Trump killed the Volt and is apparently going to lose 15,000 manufacturing jobs with GM's announced plant closures. Trump didn't do too well at Carrier either where the manufacturing jobs he once claimed to be saving are now all but gone.
I normally don't respond to your nonsense but I am curious. Exactly how did Trump "kill the Volt?"

BTW, most car models have a six year life cycle before they are re designed. the Volt name is being retired as well. Having no position on GM's board, and as President, any stock ownership would be sequestered from his vote, how did he accomplish that?

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Originally Posted by ShivaTD View Post
The money didn't come from the Obama Administration. The money for the automotive bailout came from the Troubled Asset Relief Program (TARP) from the Bush Administration. In the end all but about $10 billion was repaid.
You do realize what you are saying here, right? The money intended for TARP was re-allocated by President Obama to please his union friends and supporters. I presume with a phone call and a stroke of his pen..
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