G M -> general motors is hanging on by a thread propped up by our TAX MONEY

[PHILIP SCHNEIDER]

From Bloomberg:

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79% of GM's sales in the month of June were government purchases.

Remember how Obama keeps telling us how he saved GM, and how our
economy is getting better, it seems the car company he bought is being saved
by Govt employees using our tax money to buy new cars. 79% of GM's sales
last month were government purchases.
GM's sales figures for last month were the best since 2008, up 16%
for the month of June. YIPPEE!
Well, wait just a minute. It seems that those rosy sales figures
are due primarily to a 79% increase in fleet sales to the U.S. government in
June. That's right. Our tax dollars are being used to pump up GM's sales
figures ahead of next month's quarterly report so that Dear Leader can point
to Government Motors as a huge success.
The incestuous relationship between GM, the UAW and the Regime has
never been more glaringly apparent. I've said it before and I'll say it
again : GM is unsustainable without government subsidies and will
ultimately go bust again, taking billions of taxpayer dollars down with it.
We bailed out General Motors to the tune of $50 billion. $30 billion of this
is effectively a loss, mostly sunk into fattening the United Auto Workers
union-fierce Obama supporters-while the actual bondholders were shown the
elevator shaft.
Meanwhile, as News Busters reports, "We the Taxpayers are still
stuck holding 500+ million shares of GM stock. Which we need to sell at $53
per share just to break even. The shares debuted, post-bankruptcy, at $33
per share and are currently trading at just over $20 per. Meaning we'll lose
about $15 billion."
But it gets better. Despite the overwhelming negatives, the tiny
bright spot of positive June sales numbers is being heralded by Obama and
the leftist press as proof the auto bailout was a "success." Obama is now
campaigning on the "success" of - the government buying cars from...the
government's car company. With our money.
Americanvision says: That's like you setting up a lemonade stand for
your kids. You buy them the lemons, sugar, cups and pitchers - and then buy
most of the lemonade yourself.
The pressure is on Government Motors to appear financially strong as
this may be the last earnings report before November elections and sets the
stage for how "successful" GM is. One of GM's past tricks to help fudge
earnings numbers has been to stuff truck inventory channels. Old habits die
hard at GM. According to a Bloomberg report, "GM said inventory of its
full-size pickups, which will be refreshed next year, climbed to 238,194 at
the end of June; a 135 days' supply, up from 116 days at the end of May."
135 days' supply is huge, the accepted norm is a 60 day supply. The trick
here is that GM records revenue when vehicles go into the dealership.



Buy a FORD!

PS :

don't forget the BOND HOLDERS who were told their shares won't be a part of the restructure of GM. Those (B)illions of dollars are forever lost and the investors made poor.

`

[Deborah Moore]

Thanks, this state was leveled by Michigan buying this plant. YET who are they blaming

in the papers and news? Governor Walker and Congressman Ryan. Wisconsin is a must win for

the Senate. It is touch and go.

[PHILIP SCHNEIDER]

Will do.

[Deborah Moore]

Please spread this new video. I was a UAW rep. I was a union follower until I
returned to church. I saw the truth. This state, Wisconsin they are a sleep.
General Motors is not back.
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