GM posts its highest profit ever: $7.6 billion

[bigrun]

Workers to get 7K bonus....to help offset paycuts and benefits cuts...stock up 2 points....China big customer...


http://news.yahoo.com/gm-posts-highe...224153178.html

[DaTruth]

That is good to hear. The GM plant here was shut down recently, and my neighbor and a friend, who were both in high level positions at the plant, had to pull up roots and move their families in order to continue working for GM.

It is nice that after paying back the taxpayers, GM had enough left over to hand out bonuses.

[geeker2]

Don't we the tax payers still own like 25% of GM?

I say cut that bonus!

[Danzig]

read the article.
gm hasn't paid back all the bailout money. the govt (us) still owns a huge amount of shares. it says the stock price would have to double for the govt (again, us) can be 'repaid'.
now, big profits can help that price. this news certainly doesn't hurt.

[geeker2]

Originally Posted by Danzig

read the article.
gm hasn't paid back all the bailout money. the govt (us) still owns a huge amount of shares. it says the stock price would have to double for the govt (again, us) can be 'repaid'.
now, big profits can help that price. this news certainly doesn't hurt.

Uh I did "read the article "but what does that have to do with paying a bonus. My point is give me back my tax payer monies before we start dolling out a bonus.

Buy maybe I am just cheap with my hard earned money:-)

[Danzig]

Originally Posted by geeker2

Uh I did "read the article "but what does that have to do with paying a bonus. My point is give me back my tax payer monies before we start dolling out a bonus.

Buy maybe I am just cheap with my hard earned money:-)

i said read it since you asked what percentage the govt owns...

you'd probably have to go back and read the details of the deal. i'm not sure if they have to buy back the stock, or pay back money. the govt may just end up holding onto their shares. i certainly don't see them selling it until the price is right...so, if that's the only way they/we can be paid back, bonuses are a moot point.