Tag: Government Motors

Amusing

Obama’s General Motors Is Becoming China Motors On The U.S. taxpayers dime!

Pass this on!

While it was the U.S. taxpayers who bailed out G.M. and kept the company afloat to the benefit of the unions and detriment of secured bondholders, the corporation is now looking more and more like a subsidiary of the communist government in China!

A recent postscript on the bailout from Joshuapundit:

The cost of the Obama Administration’s bailout of General Motors keeps rising. GM shares fell to a 2012 low of 19.57 yesterday.

If you recall, GM’s starting share price in the company’s initial public offering (IPO) after the bailout was $33 per share. Most experts estimated that the stock would have to rise to at least $52 and by some estimates as high as $103 in order for the taxpayers to just break even on the large block of shares the government was holding as ‘collateral’ for the $85 billion bailout.

Source…

Amusing

Cost To Operate A Chevy Volt

Eric Bolling (Fox Business Channel’s Follow the Money) test drove the Chevy Volt at the invitation of General Motors.

For four days in a row, the fully charged battery lasted only 25 miles before the Volt switched to the reserve gasoline engine.

Eric calculated the car got 30 mpg including the 25 miles it ran on the battery. So, the range including the 9 gallon gas tank and the 16 kwh battery is approximately 270 miles. It will take you 4 1/2 hours to drive 270 miles at 60 mph. Then add 10 hours to charge the battery and you have a total trip time of 14.5 hours. In a typical road trip your average speed (including charging time) would be 20 mph.

According to General Motors, the Volt battery holds 16 kwh of electricity. It takes a full 10 hours to charge a drained battery.

The cost for the electricity to charge the Volt is never mentioned so I looked up what I pay for electricity.

I pay approximately (it varies with amount used and the seasons) $1.16 per kwh.

16 kwh x $1.16 per kwh = $18.56 to charge the battery.

$18.56 per charge divided by 25 miles = $0.74 per mile to operate the Volt using the battery.

Compare this to a similar size car with a gasoline engine that gets 32 mpg.

$3.19 per gallon divided by 32 mpg = $0.10 per mile.

The gasoline powered car costs about $15,000 while the Volt costs $46,000.

So Obama wants us to pay 3 times as much for a car that costs more than 7 times as much to run and takes 3 times as long to drive across country.

REALLY

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