Female CEO named at GM

[bluebayou]

<p>poetsheart:</p>

<p>I believe that your post is based on fault logic. The feds (aka taxpayers) lost $10.5b on this deal. While that maybe considered chump-change nowadays, the money was not recouped.</p>

<p><a href=“http://www.bloomberg.com/news/2013-12-09/gm-bailout-ends-as-u-s-sells-last-of-government-motors-.html[/url]”>http://www.bloomberg.com/news/2013-12-09/gm-bailout-ends-as-u-s-sells-last-of-government-motors-.html&lt;/a&gt;&lt;/p&gt;

<p>

“tremendous economic blow for the nation”

</p>

<p>Sure speculation, by those with vested interests.</p>

<p>

any of the jobs within related industries that would have been lost due to the domino effect would never have been replaced.

</p>

<p>Also, sure speculation. The airlines go in and out of bankruptcy all the time with no ill effects.</p>

<p>

I fail to understand why it wasn’t a wise move.

</p>

<p>It was definitely a politically wise move, but there were other equally wise economic alternatives, such as letting the bk court handle it (with a cash infusion from the fed so that they could continue to make payroll).</p>

[dstark]

<p>The money was recouped.</p>

[bluebayou]

<p>are you disputing the bloomberg reporter’s quote of the government, dstark?</p>

<p>

While the U.S. said it lost about $10.5 billion on its investment of $49.5 billion, the government’s exit paves the way for an influx of fresh investor money.

</p>

[dstark]

<p>Yes. I read the article. You are taking one aspect of the GM story and disregarding the rest.</p>

<p>The direct investment in GM is just one part of the deal. That was a loser. </p>

<p>There may have been other ways to handle the GM situation, but that doesnt mean the way the situation was handled lost money.</p>

<p>The govt made money.</p>

<p>Did you read the article?</p>

[bluebayou]

<p>From the WaPo editorial board (nov 23):</p>

<p>

The U.S. government stands to lose $10 billion on its investment, based on GM’s current stock price. Combined with the Treasury Department’s already realized loss of $1 billion on its smaller investment in Chrysler, that brings the total cost to taxpayers of rescuing two of the Detroit Three to $11 billion.</p>

<p>Was it worth it? Anyone who claims a definitive answer to that question is not being honest.

</p>

<p><a href=“http://www.washingtonpost.com/opinions/closing-the-door-on-the-gm-investment/2013/11/23/ec6e1c6e-53a5-11e3-9fe0-fd2ca728e67c_story.html[/url]”>http://www.washingtonpost.com/opinions/closing-the-door-on-the-gm-investment/2013/11/23/ec6e1c6e-53a5-11e3-9fe0-fd2ca728e67c_story.html&lt;/a&gt;&lt;/p&gt;

[dstark]

<p>So what?</p>

<p>You keep highlighting one hand. ;)</p>

<p>[GM</a> Back Above IPO Price With Buffett to Einhorn Investing - Bloomberg](<a href=“http://mobile.bloomberg.com/news/2013-05-20/gm-back-above-ipo-price-with-buffett-to-einhorn-investing.html]GM”>http://mobile.bloomberg.com/news/2013-05-20/gm-back-above-ipo-price-with-buffett-to-einhorn-investing.html)</p>