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How ironic that the plant opened on the cusp of the Great Depression and survived that decade, only to be closed in 2011 two years after General Motors crawled to the Obama Administration, begging to be saved from their own mismanagement, in essence entrusting the company’s future to a group of bureaucrats and professional politicians lacking the collective business skill to run a corner candy store and soaking future taxpayers with the bill for their folly in the process. Ask anyone (I’m not one of them) who lost money by owning stocks or bonds in the “old” General Motors.
As someone who made a ton of money on the new GM…. Learn to read markets and invest in better companies?
Sorry for your loss but time to move on, living in the past with assumed issues is apparently detrimental.
GM paid back its government loans in full 5 years ahead of schedule. And the government sold the last of its GM stock it received for the additional monies it provided to save GM in 2013. Meaning it has been 7 years since the government has had any ownership in GM.
The net result of this private public venture:
1.5 million auto industry jobs were saved.
Meaning that each job cost the country less than $12,000 to save. In return, as of 2013, those employees had contributed more than $105 billion to the government in taxes — a net gain of nearly $59,000 apiece.
The government sale of their shares in GM were at a loss, Nancy. You really need to understand what went on there, rather than the sugar-coated version provided by The Washington Post and The New York Times. Taxpayers ultimately got royally screwed in that whole deal, period. It’s been years since I researched that deal and to go back and dig up the facts and present them to you would be a waste of time for an obvious Obama worshiper, so I’ll beg off that duty, thanks.
Sorry I should have been more sensitive. I truly wasn’t aware that you hadn’t completed your 5 stages of grieving from your November 3rd loss. I’m really not into fussing back on forth, it’s just not worth the effort for either of us. Stay safe and enjoy the holidays. Especially since a vaccine is here!!!!!!!