just a thought .......................................
If we take Dbk's analysis:
Gm recieved 14 BILLION DOLLARS.....
Minus 400 million to make a US facillity give or take a couple of 100 millions
Where did the other 13.6 BILLION GO ? ......just a thought !!!! :bs :willy
Seriously? Are you guys serious? What on earth could any of this possibly have to do with President Obama? These loans were stamped out before George Bush left office. Trying in any way to tie anything going on with them now to Obama is patently ridiculous. This coming from someone who intentionally put himself on a plane to miss the election results and then went on a 12 hour drive to avoid any and all inauguration news.
As for where the rest of the money went, this is a manufacturing firm. The only way
anyone survives in the auto industry is by paying for their supplies on terms. They don't break out exactly how much they pay who, but if Chrysler made an immediate $4 billion dollar payment to their suppliers for Q4 supply inventory, it's safe to say GM spent at least $6-7 billion on supplier payments immediately.
GM has 250,000+ full-time employees. They have to deal with the operating costs of dozens of high-tech, capital intensive facilities. They pay for the supplies and personnel to produce tangible products that create nearly $200 billion in revenue a year. This ins't Microsoft where you spend a few billion developing something and then press it on one-cent CD's. It takes billions to develop, then further billions to build. Without sufficient revenues, you can't just say "plants closed kids" and not eat billions.
Can you rationally look at a situation in which vehicle sales have plunged to a level last seen 30 years ago when the population was roughly 75 million fewer and think that the money is just floating into space?
