Your Tax Dollars At Work: GM Flushes 500 Million Dollars Before Scheduled IPO

What has the title got to do with the story? The story is about closing a plant to reduce overcapacity. A good thing for a business to do.

009 - you are definitely lame. Being intentionally misleading and all. Tell me, is that how you define "integrity"?

Irrelevant tittle: Sorry 009 we know you don't like the UAW or GM because they support the DEMS, but tittles and stories like this is just bringing Autospies down,

Last year Gm has restructured in North America first (currently profitable) and now is moving on to Europe Yes that plant will be closed it has been around since the 30's and with it's lay out it can only be viable for so long, so closing it will save money in favor of another plan. Many plants in N.A where closed in an effort to restructure the same in Europe. This tittle is blatantly off the mark with the content of the story closing the plant will not cost anything.

uaw_lax refers to GM North America as "currently profitable".

Yeah, "profitable" if we ignore the billions of tax-payer dollars poured into GM in the form of purchasing shares at over-inflated prices, and which are never expected to reach book value. We've merely transfered GM's losses to the shareholders. And in this case, that's the US Government (tax payers) and other unfortunate souls who own GM stock.

Decimating "shareholder value" does not equate with profitability in any meaningful or sustainable manner.

Steve no one has purchased anything yet GM has been in the black this entire year. Sorry but that is how bankruptcy works and if you go bankrupt you get the same protection as well of the near millions that went bankrupt last year so that they can have a chance of making a good life for themselves. Many of the shareholders are many times richer than you or i will ever be and can right the loss off.

uaw_lax wrotes "Steve no one has purchased anything..."

I guess you are unaware of the 304,000,000 common shares (GM stock) the US Government (tax-payers) purchased as part of the GM bail-out. This info is all over the web, such as in articles like this: http://www.msnbc.msn.com/id/39316448
and in many, MANY others. Google is your friend. Or maybe not. This news was all over the radio, television, magazines, newspapers, etc.

Considering you're unaware of this enormous share purchase, there's no point in me trying to explain to you how GM's losses are now shifted to the share-holders, while you and your union friends can sing praises to GM for being "profitable" again.

To put this in simple terms, we sucked out the cancer from one location (GM), and injected it into another (shareholders, tax-payers). GM, no doubt, feels a lot better.