Nader seeks suspension of GM stock offering

Source: AP

WASHINGTON (AP) — Ralph Nader and consumer groups want the Obama administration to suspend General Motors' initial public stock offering, saying taxpayers could lose billions of dollars in the deal.
Nader said in a letter Thursday that delaying the stock offering would allow the government to recoup more of its $50 billion investment and cautioned that the government would have less influence over the auto giant by reducing its ownership stake. He estimated taxpayers could lose nearly $5 billion by conducting the IPO this year.
General Motors is moving ahead with a public offering expected to raise about $10 billion. The stock sale is expected to occur Nov. 18 and the government, the largest owner, is expected to reduce its stake in the company from 61 percent to just over 40 percent.

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are a scream... :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

You couldn't post and actual fact based comment on why Nader caused damage?

Acting like a Republican with your ad hominem attacks is NOT becoming.

Peace,
Tex Shelters
http://texshelters.wordpress.com/

You can retire now.

Not to mention a total lack of fight back by Democrats on any issue --

Of course, it's Nader betraying you -- he also sold out MEDICARE FOR ALL and

created The Cat Food Commission!!

Bushco needed a razor-thin margin for their theft to work. Nader's egotistical campaign gave it to them.

when the vote counting was stopped --

and the GOP-sponsored fascist rally was used to stop the vote counting in Miami-Dade

County -- it was pretty much a riot without any police interference.

And, again, you're suggesting that it wasn't 300,000 "Democrats" in Florida who voted

for Bush who gave Bushco the "razor-thin margin" .... ?

And it wasn't other third parties which took tens of thousands of votes --

Or 3,000 votes to Buchanan on butterfly ballots --

Nor 600+ military ballots counted illegally for Bush --

Nor computer steals --

This looks more like hatred blinding you to reality --


W went into the White House because the Gang of 5 on the Supreme Court put him there.

It was a stolen election -- and not by Nader.

Without him on the ballot it would've been a failed attempt to steal an election.

Do you recall that Bush allegedly won by 537 votes in Florida?

Or are you having to ignore that, as well --

Vs the 537 vote "win" in Florida was also 300,000 "Democrats" who voted for W ...

You're also ignoring that --

Again -- Gore won the election, including in FLORIDA as the recount by journalists

shows -- and they included ... "no matter how the votes were counted."

Hundred thousand and more votes were never counted in Miami-Dade County because the

vote counting was stopped by a GOP-fascist rally --

THEN the Supreme Court completely overrode the mandate of the Florida State Supreme

Court for a recount -- and they put W in the White House.

Tough facts to deal with, I know, when you desperately want a reason to hate someone.


:eyes:

but for so many here Nader is the one to blame.


Peace

That Gore conceded without a fight in the Supreme Court

That Gore didn't even win in his home state of Tennessee, that would have won him the election

That the Republicans stole the votes in Fl. and that Gore didn't sue over the vote.

It's Nader's fault that Republicans are lying bastards who stole the election in Florida, and the Democrats didn't catch them until it was too late. But that was Nader's fault too.

That Gore couldn't beat Bush by a larger margin in Miami/Dade or the Dems didn't get out enough young voters.

Yes, Gore's lack of skill as a candidate and negotiator was all Nader's fault.

http://www.cagreens.org/alameda/city/0803myth/myth.html

And Fox News must also be Nader's fault.

Get over it people. It's time to move on.

Peace,
Tex Shelters

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Your comment has no basis in reality. Please clarify.

Peace,
Tex Shelters

http://texshelters.wordpress.com/

not like we have that deficit or anything, just don't take away those tax breaks for the rich or the corporations.

in 18 months the BAIL OUTS were 12 TRILLION --

One of the greatest Finanacial coup d'etats ever pulled off by elites --

Bail outs and sell outs --

Citizens are the ones being sold out over and again --

the Corvair, one of the most innovative cars of the time, and set back the domestic compact auto industry for decades. His little personal crusade allowed the foreign auto makers to gain a foothold in America and led directly to the decline of our own manufacturing.

RIP Monza.

The Corvair was nothing more than "one of the most innovative" motorized coffins of the time! Not only that, its aluminum engine was notoriously leaky -- lots of oil on the engine & ground, lots of carbon monoxide in the passenger compartment. To say its demise "allowed the foreign auto makers to gain a foothold in America" is laughably naive, so I'll presume you weren't driving cars in that era (1969 was tha last model year for the Corvair.)

Foreign cars were a joke compared to the US models and remained so until long after the oil embargo of 1979, ten years after the Corvair fiasco had ended. The only thing driving people to foreign (mostly Japanese) cars at that time was the better fuel economy. The quality remained crap for many years thereafter.

I started driving in 1972, and knew friends who owned Japanese and European cars from the 60's and 70's. The Japanese cars were nothing much to look at in a lot of cases, but they were almost bulletproof as far as the power train. My sister had a 1974 Datsun B210 that she finally stopped driving after it hit 250K miles, and my mother had a 710 that lasted for 175K miles. The small trucks were the same, they consistently lasted for more than 100K miles. European cars like Triumph and MG were not as reliable, but they sure were fun to drive - until you had to tune them!
As for the Corvair, I have no experience with them. However, the Wiki link below seems to say that the car was no more dangerous than any other model:

http://en.wikipedia.org/wiki/Chevrolet_Corvair

The leaks were well-known, but that was due to the O-rings of the age not being able to hold up under the temperatures generated. Modern O-rings cure that issue quite well. Other than that, it was pretty innovative in many ways.

Nader insisted that the Corvair's handling was dangerously unsafe, but in reality it was little different from that of a VW Beetle, the most common car in the world. He was just wrong.

Happened to a friend of mine on a mountain road in Montana -- all four wheels...

I loved my Corvair though -- until it finally dumped all of its oil on the highway... Too expensive to keep on the road...

But at least MY wheels didn't fall off.

To give the Corvair its due -- GM fucked up the Porsche design to save money and ALL USAmerican cars were shit back then!

We shouldn't let GM dilute the taxpayers' stake in the company until everything is paid back.

+1

If GM tanks after the IPO is issued (a good possibility), then those who sold their stock at prices higher than the IPO will be making profits at the taxpayers expense. Those who sell it at lower than IPO amounts will be screwed royally. Either way, the taxpayers get it (screwed).

Nader has been talking about corporate-fascism for decades -- and warning us.

But I think even he is somewhat surprised at how far the American voters has

permitted all of this to advance without a real movement in response.

Of course, Democratic Party has been the party of NO RESPONSE -- and as Nader

pointed out, they didn't call out their supporters to demonstrate for MEDICARE FOR ALL --

and they haven't formed any comparable group to the T-baggers on the Democratic side.

T-baggers are simply a bought and paid for group by Koch Bros and run out of a PR firm.

Whereas Democratic Party could call out legitimate supporters for free!

Obviously, it's not what the Democratic leadership is interested in doing --

i.e., fighting for MEDICARE FOR ALL -- Social Security and Medicare -- and liberal values.

Agree that he is also watching this GM deal go down and warning us --

if we wake up to it!

:)

It is supported by the same mind set as Fox News fundamentalists.

They never complain about Bush and Cheney, either.

That Nader did so through stupidity and egotism rather than design is not an excuse. Without him, even Katherine Harris' mass disenfranchisement drive couldn't have taken enough votes away to stop a Gore victory. There'd have never even been a recount.

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only the very poorly informed believe that --

Nader was scapegoated by the Democratic Party which couldn't respond to his

legitimate criticism of the party -- and didn't respond at all to the stolen election.

Nor any stolen election since then!

Again -- Gore won, including in Florida -- and Bush was put into the White House

by Poppy Bush's Gang of 5 on the Supreme Court.

That was the reward for Roberts -- who helped Bush formulate his stolen election --

including the GOP-sponsored fascist rally to stop the vote counting in Miami-Dade

County -- a near riot with no police interference.

from seeing the reality of what actually went down ....

But Democrats did nothing about 2000 steal and to hide that they blamed it on Nader!

Result, election steals and computers have never been addressed -- evidently it's taboo

in Dem Party because they fear -- this is according to Thom Hartmann -- that if they

discuss it ...

"Dems will think that elections aren't honest and they won't come out to vote" -- !!!!


Nader, of course, had nothing to do with Gore's alleged "loss" -- it was a huge steal

and the last opportunity came in Congress when NO one from the Senate would join with

the USHR in protesting it!!


The alleged "win" by Bush -- before the journalistic review overturned that lie -- was

by 537 votes in Florida which moved all the Electoral votes to Bush.

The recounts mandated by the Florida State Supreme Court were stopped by the GOP-sponsored

fascist rally outside Miami-Dade Election HQs!!!


But as for the alleged 537 votes -- Buchanan took more than 3,000 votes on the illegal

butterfly ballot and no one says that Buchanan stole Florida from Gore!

Other third parties also took tens of thousands of votes in Florida --

and 300,000 "Democrats" in Florida voted for Bush!!

COMPLETELY ignored the issue at hand -- GM going public before their bailout monies are completely paid off. These guys are like Pavlov's Dog -- they see the word "Nader" and they start slobbering that he was the reason Bush was installed. Of course they've been presented with MOUNDS of evidence to the contrary for 10 years now but don't confuse them with the facts, they know what they know. :eyes:

impenetrable to reason or facts...

And somehow they think that corporatist, "conserva-dem" the 2000 version of Al Gore would have been a messiah...

:shrug:

you have any concerns about the $12 TRILLION bail outs --

one of the greatest financial coup d'etats ever pulled off by elites --

and what remains of our investment in GM ... !!???


Perhaps you've also forgotten about $3.4 TRILLION the Pentagon can't account for --


:shrug: :shrug: :shrug: :shrug:



And we can't afford MEDICARE FOR ALL --


:eyes:

Deal with it.

some evidence or links might help educate those that want to accuse Nader of Gore's weak showing.

Peace,
Tex Shelters