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General Motors Company Message Board

  • iffydog iffydog Nov 20, 2012 5:59 PM Flag

    Will start posting sub-prime lending tomorrow

     

    You will all be happy than. GM brought the sub-prime lender AmeriCredit and renamed it GM Financial. Cashless will be proud. Remember cashless thought it was great when 55 banks lent GM financial about 12 billion dollars. Re-po man coming! GM is lending to people with scores as low as 300. Post again cashless and I will start tonight.

    Sentiment: Strong Sell

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    • " GM brought the sub-prime lender AmeriCredit and renamed it GM Financial."

      Old news, happened in 2010.

      " Remember cashless thought it was great when 55 banks lent GM financial about 12 billion dollars."

      Are you talking about the new credit line? That's a credit line to GM, not GM Financial. Nothing to do with lending money to consumers. And you're confused about the difference between a revolving credit line and a loan. At this point, GM owes nothing to anybody on this transaction. Until, and if, they decide to exercise the credit line, it has no impact on corporate finances.

      I suppose you know, since you seem to think you know all about corporate finance, that it is replacing an existing $5.5 billion facility. I also suppose you know that this credit facility is structured in many different currencies so it can be used all over the globe for cash needs.

      BTW, GM Financial was responsible for $622 million in profit last year and $598 million thru 9 months this year.

    • go ahead diaperdog,post away bark away ,just don`t soil your shorts again?your are short again right?

 
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