I’m MAD AS HELL and you should be too!
Let me show you what our politicians and corporate leaders arent showing you.
They say that these companies need a bailout, so lets look at 1 big auto manufacturers and 1 big bank.
I hope that you are sitting down.
Let’s look at GM first.
Click to look at ANNUAL Balance Sheet
Click on the link above.
This is an annual view for the last 3 years.
Assume that you are the CEO and you saw that mess building.
Wouldnt you have taken action in 2006 when you saw the liabilities were exceeding the assets?
Click to look at Quarterly Balance Sheet
Click on the link above.
This is a Quarterly view for the last 4 quarters.
Look at the cash and cash equivalents row.
See how they’ve been spening an average of 3 million per quarter in cash and how they had 16 million left as of 20 Sep 2008
See how their liabilities for the oldest two quarters exceeded their assets by 40 million each quarter?
See how their liabilities for the most recent two quarters exceeded their assets by 60 million each quarter?
Wouldnt you have taken action a long time ago if this were your business?
Now let’s look at their annual income statement.
Click to view
Pitiful isnt it ?
Look at the bottom line.
Email me if you don’t understand what you’re looking at and I will explain it to you.
Bottom line, why are we bailing out a company that is not even attempting to operate at a profit ?
Now lets look at a bank before I really get disgusted.
Forget that, I done looked and now I’m really ticked.
click to view their balance sheet
I can’t believe this.
I looked at all 3 reports on the bottom hand left menu (balance sheet, income statement, revenue) in both quarterly and annual views and everything looks pretty good all the way around except that 350 million disappeared on the 30 sep 2008 quarterly balance sheet.
I can see nowhere that they expensed it on any of the reports.
I’m pretty sure it was probably mortgage problems, but if they wouldnt be sending American jobs offshore, American’s would be able to pay their damn mortgage payments and they sure as hell don’t deserve any kind of bailout because they’re actually pretty strong even with that loss according to the reports I’m seeing here.
You need to get off of your ass and quit watching TV and start contacting your elected representatives to put an end to this mess and DEMAND that they pay us back and that our government sell all of their stock when it hits its 52 week high so that we will get our money back.
This is absolutely pitiful and I only looked at two of them.