GM is probably also worth more in parts than it is as a whole entity. By buying into it, if GM should face another round of bankruptcy, it could be sold off for parts easily enough.
That’s what should’ve happened the first time around.
Romney wanted to place GM into bankruptcy and only back the divisions that were competitive.
GM does some things well, like their trucks, which have excellent quality and probably the best styling on the market. They are competitive with the F150 which is the best selling vehicle in the US.
The fact is GM's never fully repaid the TAXPAYERS of this country for the loans BAILOUTS that were given to Unions when GM's rightful debtholders were F***ED by the Obama Administration.
GM's also facing bankruptcy AGAIN because they've never addressed the core issue of their debt problem: PENSION OBLIGATIONS.
I suspect Buffet knows that GM's going to have to file for bankruptcy protection, get ANOTHER TAXPAYER BAILOUT at which point the Unions will finally have to take their pension haircut, which will then mean that the only one's who'll benefit from another TAXPAYER BAILOUT will be Friends of Barry.
Anyone wanna bet me?