With Chrysler and GM due to emerge from bankruptcy as leaner, meaner, presumably greener machines, it will be fascinating to see if the companies' main stockholder, the United States government, benefits financially in the long run.
I own two Japanese cars, but I'm rooting for the Amerikan yonrisha seizousha here.
I think they need to get rid of all of their brands, sell just one car....one only....and call themselves, "Specific Motors".
ReplyDeleteLet's talk about bad investments for a second. GM has an outstanding debt of 90+ billion. ( after the first government bailout, and the bankruptcy filings ) The US government is giving them another 30 billion, dropping the overall debt to about $60 billion.
We, the U.S. Taxpayer, now own 60% of that negative $60 billion.
I didn't choose that investment. If I had to pick from a menu list of investments, that one WOULDN'T BE ONE I WOULD CHOOSE!!!
Let 'em die. We talk about the American Dream, well, there's also the American Failure. Capitalism allows for that. If we are truly Capitalist, then GM should die.
I think, and I should look this up, that we now own a 60 percent stake in GM, which we then could sell off sometime. I don't see the company going under while we own it, so I hesitate to count that debt against us. But I can envision us selling the 60 percent stake for a profit... if things turn around... and look at them wings on Wilbur!
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