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GM invests $246 million in Baltimore 200 jobs...
- Thread starter LS2JSTS
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LS2JSTS
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Is everybody on a siesta?....lol
Nahh. They lost, and they know it, so they won't even bother posting because it would mean admitting that they were wrong.
Originally Posted By: LS2JSTS
GM invests $246 million in Baltimore 200 jobs...
Lets break that down, 246 million for 200 jobs? That works out to be about 1.2 million per job, and you think thats a good thing? Its a disgrace that the American taxpayers were forced to bail out GM to begin with.
GM invests $246 million in Baltimore 200 jobs...
Lets break that down, 246 million for 200 jobs? That works out to be about 1.2 million per job, and you think thats a good thing? Its a disgrace that the American taxpayers were forced to bail out GM to begin with.
LS2JSTS
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Originally Posted By: R2d2
Originally Posted By: LS2JSTS
GM invests $246 million in Baltimore 200 jobs...
Lets break that down, 246 million for 200 jobs? That works out to be about 1.2 million per job, and you think thats a good thing? Its a disgrace that the American taxpayers were forced to bail out GM to begin with.
What? Are you even trying to make any sense. The 246 million was to retool the plant...the jobs saved or created are a by product of that investment.
Another poster who clearly has not even an inkling of an understanding of the huge capital investments required in this business.
Originally Posted By: LS2JSTS
GM invests $246 million in Baltimore 200 jobs...
Lets break that down, 246 million for 200 jobs? That works out to be about 1.2 million per job, and you think thats a good thing? Its a disgrace that the American taxpayers were forced to bail out GM to begin with.
What? Are you even trying to make any sense. The 246 million was to retool the plant...the jobs saved or created are a by product of that investment.
Another poster who clearly has not even an inkling of an understanding of the huge capital investments required in this business.
Keep drinking the GM Kool aid. The only fact is GM was and is a failed company that should have been left to die. Instead we bailed it out at huge taxpayer expense, for little or no gain.
LS2JSTS
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What taxpayer expense? Is this some more of your math skills on display?
Tell me, what was the "huge" expense to taxpayers? When all the remaining stock is sold, what in your estimation will be the final expense to the taxpayers?
Tell me, what was the "huge" expense to taxpayers? When all the remaining stock is sold, what in your estimation will be the final expense to the taxpayers?
LS2JSTS
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I was hoping the math expert could answer my question.
He seems to be under the impression that the cost to taxpayers will be "huge"...I wanted to get from him what that "huge" figure actually is.
He seems to be under the impression that the cost to taxpayers will be "huge"...I wanted to get from him what that "huge" figure actually is.
LS2JSTS
Thread starter
""Through debt repayment, interest income and GM's initial public stock offering last year, taxpayers got back $23.1 billion of nearly $49.5 billion the government put into the nation's largest automaker. The Treasury Department still holds 500 million shares of GM, about 33% of the automaker's stock worth about $19 billion at GM's current share price."
I posted this in the other thread...maybe r2d2 could put his exemplary math skills to work and put a figure on that "huge" expense he sees the taxpayers being stuck with.
I posted this in the other thread...maybe r2d2 could put his exemplary math skills to work and put a figure on that "huge" expense he sees the taxpayers being stuck with.
And of course we'll never know how much it would've costed (jobs, taxes, pension guarantees, disrupting the entire US auto industry etc) and the repercusions if GM and Chrysler had a so-called proper bankruptcy. What it didn't benefit was a smaller group, that includes ones that run the media. But they're not really interested in what's best for the overall economy or what would benefit the most individuals, but primarily their own fat accounts.
Using your numbers, taxpayers will loose $7.4 Billion dollars or 15% of their initial investment. I'll break it down for the math-challenged GM defenders:
49.5-23.1=26.4 still owed to us after the fist stock sale.
500 million shares=$19 billion is how much we would make on sale if stock were sold today.
19-26.4=(7.4) we would loose if stock were to be sold today.
In order for the taxpayers to break even, the market value of the GM stock has to increase 1.4 times. Again, using your numbers, the stock price would have to go $52.80 a share from the current $38.
19 billion/500 mil shares=$38 a share at current price.
26.4 billion/ 500 mil shares=$52.80 a share price.
52.80/38=1.4 times.
That's assuming that I read your statement correctly and GM's current market capitalization is 57 Billion=19 Bill x 3.
49.5-23.1=26.4 still owed to us after the fist stock sale.
500 million shares=$19 billion is how much we would make on sale if stock were sold today.
19-26.4=(7.4) we would loose if stock were to be sold today.
In order for the taxpayers to break even, the market value of the GM stock has to increase 1.4 times. Again, using your numbers, the stock price would have to go $52.80 a share from the current $38.
19 billion/500 mil shares=$38 a share at current price.
26.4 billion/ 500 mil shares=$52.80 a share price.
52.80/38=1.4 times.
That's assuming that I read your statement correctly and GM's current market capitalization is 57 Billion=19 Bill x 3.
LS2JSTS
Thread starter
LOL...yeah we are math challenged...lol.
Want to try again? And where did you get $12.54/share from?
There is more wrong with your math than there is correct.
edit...Ahhh, I see you added some edits to that math. Yes the total loss would be about 7 Billion if they sold at todays price. Still trying to figure out how you arrived at 20 billion though...
Want to try again? And where did you get $12.54/share from?
There is more wrong with your math than there is correct.
edit...Ahhh, I see you added some edits to that math. Yes the total loss would be about 7 Billion if they sold at todays price. Still trying to figure out how you arrived at 20 billion though...
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You need to learn to express yourself more clearly. Was 33% equal to 19 billion, or was 19 bill the TOTAL GM market capitalization? I assumed the first, (which in YOUR favor). As far as how I came up with numbers, I used YOUR numbers and documented every step of the way.
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LS2JSTS
Thread starter
It's not my words...that is a quote from the Free Press or the WSJ...see the quotes around it.
Yes the 19 billion represents the remaining shares that the feds hold, not the total market cap.
PS...I said after your edit they appear right...but be honest, you were using $12.54/share as todays price in your original post, before you edited it.
Yes the 19 billion represents the remaining shares that the feds hold, not the total market cap.
PS...I said after your edit they appear right...but be honest, you were using $12.54/share as todays price in your original post, before you edited it.
The accuracy of your math and future projections notwithstanding, I still think you are leaving out the cost if there wasn't a bailout. Your calculations assume it would be zero. I'd bet it would be fairly high far exceeding the $7.4 billion shortfall from the bail out you're claiming.
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Because I could not tell from the quote what the 19 bill was. If it was the total value, than the current market share would be 12.54
Originally Posted By: mechanicx
Tthe $9 billion shortfall from the bail out you're claiming.
What 9 billion??????? I have 7.4, or 20, based on the alternate reading of information, not 9.
Tthe $9 billion shortfall from the bail out you're claiming.
What 9 billion??????? I have 7.4, or 20, based on the alternate reading of information, not 9.
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LS2JSTS
Thread starter
Exactly Mechanix...the cost to the PBGC for the GM retirees alone would have dawarfed that 7.4 billion figure and it would have been a yearly bill of about 6 billion layed on the Federal Taxpayers back.
The "loan" worked, and many cant stand that the end cost to the taxpayers will likely be very small. Assuming the feds are smart enough to sell at the right price.
The "loan" worked, and many cant stand that the end cost to the taxpayers will likely be very small. Assuming the feds are smart enough to sell at the right price.
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