Lately, I have been seeing postings that are bragging on GM's performance...making a profit...investing in US...blah, blah, blah. What a crock!!! Even Steve Erwin never saw a crock that big!!!
Keeping it simple...not going into their balance sheet...not going into their statements of cash flow...not going into their statements of income/loss, this is the bottom line: The taxpayers, that's you and me "invested" in GM to the tune of 500M shares @$53/share. GM stock at 10:10am, 27 Dec is $27.80/share. Now, let's do the math... Our "investment" was 500,000,000 @$53 = $26.5B. The current value of our "investment" is 500,000,000 @$27.80 = $13.9B. Now, unless basic math has changed since I was in school, the taxpayers, you and I are in the hole/upside down/under water to the tune of $12.6B.
IMO: that is nothing to brag about.
OK boys & girls, there you have it.
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