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Nice new LED Sign!

http://www.marketwatch.com/story/innovative-led-installation-defines-a-detroit-icon-2012-02-07

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I wonder if Government Motors, errrrr. I wonder if General Motors, will ever pay us back for the bail out? But hell, their marketing team sure put some nice signs together!

What a nice country this is where the government just "bails" out big companies like this, and where the big companies just get a to spend on luxury items.

You have enemies? Good. That means you've stood up for something, sometime in your life. - Winston Churchill

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Erik;

While I am in agreement with you, apparently both George W. Bush and Barack Obama are not. Doesn't matter if you are Republican or Democrat, when you arrive at Washington DC you immediately must sell your soul...............

Bush on auto bailouts: 'I'd do it again'

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"Sometimes circumstances get in the way of philosophy," said George W. Bush during his speech last week in Las Vegas, referring to his normal stand in favor of free trade.

By Paul A. Eisenstein, The Detroit Bureau

It has become one of the rare things that binds the two men, the controversial bailout that was begun by former President George W. Bush and completed by his successor, President Barack Obama.

The latter defended his actions during the recent state-of-the-union address, during which he declared “The U.S. auto industry is back.” His predecessor used a meeting of the nation’s auto dealers to defend his own actions, insisting he had no other choice but to completely sink the American economy.

“I’d do it again,” proclaimed Bush, speaking to the annual convention of the National Association.

The bailout, which ultimately totaled $85 billion, was originally begun during the waning days of the Bush administration. With a specific rescue effort rejected by Congress, the former Commander-in-Chief decided to tap into a separate, $700 billion fund Capitol Hill did approve for the bailout of Wall Street and the banking industry.

“Sometimes circumstances get in the way of philosophy,” said the ex-president, during his speech in Las Vegas, referring to his normal stand in favor of free trade. “If you make a bad decision, you ought to pay,” he said, referring to the collapse of both General Motors and Chrysler.

But Bush also noted that coming on top of the failure of Lehman Brothers, the meltdown of the banking industry and the collapse of the housing market, a painful shift in policy was needed.

“I didn’t want there to be 21 percent unemployment,” he stressed, echoing forecasts at the time that the loss of GM, Ford and the automotive lenders also covered by the bailout could lead to the loss of 1 million jobs.

Dominic

"Don't be afraid to see what you see" - President Ronald Reagan

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GM has paid back the loan to Canada, but the government still has the equity stake they bought. I believe it's the same in the US, where the cash bailout portion has been paid back (something like $6.8 bil?), but the gov't still owns $42 billion worth of the company. It's when they go public with a stock offering that the gov't will make this money back and the longer they wait, the greater the likelihood that the stock offering will actually generate a profit for the shareholders. I think the US gov't owns 60% and Canada 12%.

As for the signs, I don't see what the issue is. Is GM supposed to act broke until they pay everything back? Who wants to buy cars from a company who acts broke? A lot of car purchases are about image, so GM has to repair theirs and this is the sort of thing that helps do it. Better it's spent on sign companies than newspaper ads, no?

Edited by YYZ
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The short answer is, if the model is broke, let them go broke. Toyota is not Union are they? Ford did not want/take the government pushed bail out and their turning profits with stocks up?

If you and I go broke will we get a bail out?

Why continue a broken model, the reigns were handed over to the union thugs, and they cant even run it right. So let the company fail, don't take from paul to give to pete.

You have enemies? Good. That means you've stood up for something, sometime in your life. - Winston Churchill

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GM has paid back the loan to Canada, but the government still has the equity stake they bought. I believe it's the same in the US, where the cash bailout portion has been paid back (something like $6.8 bil?), but the gov't still owns $42 billion worth of the company. It's when they go public with a stock offering that the gov't will make this money back and the longer they wait, the greater the likelihood that the stock offering will actually generate a profit for the shareholders. I think the US gov't owns 60% and Canada 12%.

As for the signs, I don't see what the issue is. Is GM supposed to act broke until they pay everything back? Who wants to buy cars from a company who acts broke? A lot of car purchases are about image, so GM has to repair theirs and this is the sort of thing that helps do it. Better it's spent on sign companies than newspaper ads, no?

Touche........................

My question to you, though, is when is The City of Toronto going to get a real hockey team ??? I thought you guys used to have one. And the Raptors, well, they suck as well. Even us California hockey fans have a Stanely Cup with The Ducks.

Just kidding...........

Have a good one.

"Don't be afraid to see what you see" - President Ronald Reagan

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GM has paid back the loan to Canada, but the government still has the equity stake they bought. I believe it's the same in the US, where the cash bailout portion has been paid back (something like $6.8 bil?), but the gov't still owns $42 billion worth of the company. It's when they go public with a stock offering that the gov't will make this money back and the longer they wait, the greater the likelihood that the stock offering will actually generate a profit for the shareholders. I think the US gov't owns 60% and Canada 12%.

As for the signs, I don't see what the issue is. Is GM supposed to act broke until they pay everything back? Who wants to buy cars from a company who acts broke? A lot of car purchases are about image, so GM has to repair theirs and this is the sort of thing that helps do it. Better it's spent on sign companies than newspaper ads, no?

Touche........................

My question to you, though, is when is The City of Toronto going to get a real hockey team ??? I thought you guys used to have one. And the Raptors, well, they suck as well. Even us California hockey fans have a Stanely Cup with The Ducks.

Just kidding...........

Have a good one.

Hey! Toronto has a real team finally. The Buds are in 8th place! Or were you referring to the Marlies?

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We haven't been paid back yet BUT, Newspaper Ads, Signs, Superbowl Commercials. Don't get me wrong, it's nice to be on the receiving end of things, but come on, government money is our money no matter what form it is, Stimulus, Energy Rebates, Loans.

http://biggovernment.com/whall/2012/02/07/proofed-ed-chrysler-is-back-great-then-why-hasnt-it-repaid-taxpayers-the-1-3-billion-it-still-owes-them/

You have enemies? Good. That means you've stood up for something, sometime in your life. - Winston Churchill

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