Tag: GM

Written by Diane Benjamin - editor

Bin Laden is dead and what?

Joe Biden, Joe Biden New favorite line – Osama Bin Laden is dead and General Motors is alive. Sorry Joe, GM filed for bankruptcy after we the taxpayers shoveled tons of money at them.  In fact, they still owe of $50 billion.  And, they are getting ready to file for bankruptcy again.  See previous post: http://blnnews.com/2012/08/20/so-obama-saved-the-car-industry/ Joe, you […]

Written by Diane Benjamin - editor

So Obama Saved the Car Industry?

Just the Facts: The United Auto Workers received a 39% Equity stake in the company Over 1000 GM dealerships were forced out of business Bond holders received a 10% stake – much less than invested Salaried employees lost most or all pensions benefits $50 billion of taxpayer money is still invested in GM – 500 […]

Written by Diane Benjamin - editor

Still think Obama Saved the Car Industry?

Saved it for who?  GM still owes the taxpayers a lot of money, so does Ally financial.  Then GM sends jobs to China!