Post whatever is on your mind!!

[5.4MarkVIII]

I think it’s probably just Liberal math. It’s hard to understand sometimes. Like Justin today with the carbon tax anouncments. “We are going to return 90% of the carbon tax received as rebates so effectively most people will actually get back more than the tax costs them.

Some sort of magic money multiplier

[92redragtop]

I read they sold at approx $35 and are now priced at approx $32. Don’t know bout prices at the time of sale.

$32 per share of GM beats $0.00 per share of Chrysler/Fiat

Prices today are not relevant - It appears both Federal and Provincial level bailed out primarily for jobs versus "investment" or breakeven, knowing they would take a loss so it was a taxpayer bailout from the start (it appears the Feds sold Chrysler shares before GM shares so settled for a lower price - not sure why). Too bad they can't be transparent about it. Other news outlets (not just CBC) reported similar stories back about 3-5 years ago, using info from the A-G at the time. Also appears some of the bailout funds ($4B) went to shoring up the pension fund deficits of both entities....som something of a black hole.


Globe and Mail from 2015:


Shares of GM closed Monday at $36.66 (U.S.). At that price, the shares would be worth $2.69-billion, or about $3.4-billion (Canadian).

Even if Ottawa sold at the current market price, it likely would not be able to book all of that as an improvement to its bottom line. The government had already booked $1.5-billion in expected revenue for 2015-16 from asset sales. In its 2013 fall fiscal update, it said examples of such asset sales could include the GM shares.

By waiting to sell the shares after April 1, which is the start of the fiscal year, the government is likely able to record the gains as revenue in the 2015-16 fiscal year – which is when it has promised to return to a balanced budget.

Mr. Oliver announced in January that he would be delaying the release of the 2015 budget until at least April in order to gauge the economic impact of lower oil prices.

The governments of Canada and Ontario purchased the shares of GM and Chrysler during the financial crisis that hit in late 2008. The U.S. government also purchased automotive shares at the time. The government of Ontario sold its remaining shares in February and Ottawa had previously sold all of its shares in Chrysler. The gains from the sale are not expected to fully recoup the cost of purchasing the shares during the recession.

The two governments have argued the unprecedented decision to step in was worth it because it prevented a much greater loss of Canadian auto-sector jobs.

Auditor-General Michael Ferguson reported last November that Ontario and Ottawa had recovered $5.4-billion of the $13.7-billion they contributed as part of the bailout to save Chrysler and General Motors.


GREG KEENAN AUTO, STEEL AND AIRLINE INDUSTRIES
PUBLISHED APRIL 7, 2015
Canadian taxpayers will fall about $3.5-billion short of breaking even on the money the federal and Ontario governments invested in the bailouts of Chrysler Group LLC and General Motors Co. in 2009.

The federal government's sale of the remaining 73.389 million common shares it held in GM will close the book on the investment and the auto maker's period of being derided as "Government Motors."

[92redragtop]

I think it’s probably just Liberal math. It’s hard to understand sometimes. Like Justin today with the carbon tax anouncments. “We are going to return 90% of the carbon tax received as rebates so effectively most people will actually get back more than the tax costs them.

Some sort of magic money multiplier

If they're rebating 90% of the tax collected then won't people get back less than they paid? 90%<100%?

Did you mean magic money discounter?

[5.4MarkVIII]

Nope Trudeau himself said most people would get back more than it costs them becasie there are directly refunding 90% of what they get.

Makes no sense I though the money raised was suppose to go to green stuff to make things less polution

[RedSN]

I feel like this is the Liberal's way of teaching us "core math".

We pay extra in goods and services, the feds collect "carbon tax" from companies, then gives us money back. And all of this at 90% efficiency? Yeah right.
If the feds give back 90% of the carbon tax collected, they are going to lose money. And guess who pays for that? LOL. It's one big giant shell game.

[ZR]

Watching Trudope explain it on the news, wanted to hurt myself.

[92redragtop]

Nope Trudeau himself said most people would get back more than it costs them becasie there are directly refunding 90% of what they get.

Makes no sense I though the money raised was suppose to go to green stuff to make things less polution

Sounds like Trudeau speak then. I believe the carbon tax was supposed to be revenue neutral so money collected would be rebated for behavioural modification.

[ZR]

Only thing that twat needs................

[mavrrrick]

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Getting Mavrrrick’s bed ready.


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[mavrrrick]

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