Posts
A handful of lawmakers are accusing General Motors of misleading the public by continuing to claim as part of its advertising blitz that the auto giant has repaid its government loans "in full."And they didn't. We, the taxpayers, paid ourselves back, and GM tried to take the credit. So... by the logic of this ad campaign, everyone who takes out a debt consolidation loan should be able to say they've repaid their debts in full. As Yakov Smirnoff used to say: "what a country!"
...lawmakers, and even the inspector general for the bailout fund GM borrowed from, point out that General Motors only repaid the bailout money by dipping into a separate pot of bailout money. They say the company did not actually use its own earnings to make the early payment and are questioning why executives are making such a big deal out of it.
The $6.7 billion is also just a fraction of the $52 billion General Motors received in government aid. Grassley said lawmakers are being told government losses on GM are expected to exceed $30 billion.
General Motors admits that the company is repaying the loan with other government money, but says a year ago "nobody thought we'd be able to pay this back."
Wednesday, April 28, 2010
So I wasn't the only one to notice
The latest ad blitz by Government General Motors set my teeth on edge the very first time I saw the spot. Apparently, it wasn't just me:
Subscribe to:
Post Comments (Atom)
2 comments:
As a GM family member, this ad bothers me. They've now got really competitive products, but still feel inclined to resort to lying??? Makes me want to buy a Ford...who didn't take any money AND has also greatly improved their lineup. Product should be your sales line...not fabrication.
Yet another problem with the government getting so involved with business. Ironic that the bailout caused a car company to stop acting like car salesman and start acting like politicians!
Post a Comment