Farago was all over GM’s self-destruction years before the MSM picked up on it.
Russians also talk about the good ole days when the Soviets were still in power and Stalin was killing millions. Go figure.
Just as the banks were pressured and sued to make bad loans, and vilified if they didn't, so GM et al. were more and more obliged to engage in doomed business practices. Where else on earth would one have to pay 90% of full pay to someone who was laid off or furloughed? Who expects a business to survive when Congress requires it to build cars people don't want?
Among the many things contributing to what may be the demise of the Big Three is creeping socialism.
Good column. Everyone should follow the link and read the whole thing!!!
Good article until the four-letter-word. That’s where I parted company with the author.
GM, by its collaboration with the DemonRats and Watermelons, is disgracefully doing to the auto industry and potential car buyers exactly what Smith & Wesson tried to do to the firearms industry and gun owners by its horrible settlement with the Clintonoids. If this horrible bailout/voluntary nationalization of GM goes through, GM should be boycotted as completely as S&W was, with the same consequences. We must all remember that the ultimate purpose of the bailout/nationalization is to make it impossible for Detroit to make the kind of cars consumers want and to enable nationalization of the rest of the auto industry.
Interesting that Farago doesn’t seem to share his outrage over GM management with the UAW for its part in the mess.
Just sayin’...
- JP