^^^Don't forget that bondholders were never paid, dealer contracts that GM reneged on, the $40 Billion in taxes that were forgiven and assorted other loans and "free money" GM received but never paid back, not to mention that the US taxpayer owns stock that still isn't worth anywhere near what was paid for it. Without looking up all the details, there probably still remains around $100B that GM would otherwise have owed. Wouldn't be surprised if it added up to $150B.

 

On the flip side imagine what we'd have paid (and still be paying) in unemployment benefits for all the idled workers, not just at GM but also all the parts supliers, local merchants, etc. And the employees still wouldn't be getting their full pensions or retirement benefits. Principles aside, the bailout was a bargain on a lot of levels.

 

Agreed.

My point is, GM is solvent and paying off debt, due to government largesse and corporate welfare, not because GM is competent or makes good product.

 

I'm sorry, what?

Since when am I trust fund kid? I have no trust fund.

Am I the first person to say that my parents have been generous, sure, but they certainly haven't set me up for life.

I got scholarships for college, my company paid for my MBA, and I go to work 5 days a week like everybody else.

I just happen to have used my good grades, connections (not my parents, my own) and my sparkling personality to get a well paying job in finance.

I'm actually pretty offended that you would call me a trust fund kid without knowing anything about my background.

I work for what I have, save money by fixing the stuff myself, and have good saving discipline to delay gratification.

 

Well, by your own admission, as you've said before, your parents have been "generous". That implies that you've been able to afford to buy things, such as cars, that you would otherwise not be able to, had you not been blessed with parents that subsidized your expenses.

Generally speaking, most 28 year olds are not able to afford $70K cars without some largesse from a rich parent. I am assuming that had your parents not helped you out with other things, you'd not have a 993TT at such a tender age.

Semantics aside, if your parents have ever given you any assistance in any financial endeavor at all, then you're not self-made by definition. Therefore, you'd not be in a position to offer any advice to others regarding self-sufficiency.

 

Bingo!

 

Yes, generous. Did they pay my personal expenses? no of course not. I haven't receive parental financial support since college.

Most 28 year olds are not...I am, for a number of reasons. The fact that I don't have student loans to pay, the fact that I saved a lot when I was younger instead of wasting money, the fact that I've made some very wise investments, and the fact that my car was $20k less than the figure you quote.

I'm not saying I'm self made, but its not like my parents write check for my expenses. Like I've said, I pay for my house, my cars, and my living expenses based on my income.

P.S. You may not be very familiar with what finance positions pay high quality talent for bonuses. While mine are not top tier due to where I work, I can assure you that affording a $50k 993 turbo is not at all unusual.

 

Hi Alex,
Good to see you watch Australia TV, the clip above is off our National TV Broadcaster.


Hi Resident Sicko,
Regarding loans on toys, I don't believe in this concept, but we are all different and all have different priorities.

But congradulations on paying off your car, it is a great achievement..

Plus you are far better than some other Americans that have created this world financial crisis, by not paying off their loans, Thank you....

 

Hi Neil,

I hope to be in Oz next winter (your summer) to visit family. I'll be on the Gold Coast. Do you need anything brought over?

 

Yes, Ollie. My point is, many haven't had parental financial assistance EVER. So, by that reasoning, you had a long head-start over others. All, due to your parents "generosity".

Also, this precludes you, in my opinion, from being an expert on self-sufficiency. So, I might amend your previous statement to read "I work for what I have, save money by fixing the stuff myself, and have good saving discipline to delay gratification. Also, it helps to have generous parents that offer financial support all the way into one's college years".

It matters not how/where/to what use that "generosity" was put to use. The bottom line is, minus that generosity, you may not have had the means to purchase things that you were able to. You didn't earn it all on your own.

Trust me when I tell you that it takes more to start from nothing and make $20 million on your own than to take $20 million that someone gives you and make it into $200 million.

As for the bonuses paid in the financial sector, yes, I am well aware of them; though given the shell game corruption and shenanigans that have occurred, I'm sure I could never use "high quality talent" and "financial sector" in the same sentence.

 

Ok, if you want to discount my ideas and opinions because I receive some financial support from my parents into college, then do so. Let's be clear...this in no way amounts to being a trust funder.

Further, it seems you like to focus on extremes. Sure some people never got a dime from their parents and others we're showered with cash. Most people, myself included, received some help during their younger years and added to that with part time jobs and the like.

As to your little dig at the financial industry, think what you'd like...you won't bait me on that. My conscience about what I do for a living is clear

 

On a separate note that is more relevant...had I not been able to afford a 993tt with cash I wouldn't have bought one...but rather a 964 or nb 993. Point being I won't take a loan for a car

 

 

Nothing anymore...I should have known better...done witht his one.

Congrats on paying off your car sicko