Posted on 06/02/2009 3:30:16 AM PDT by Scanian
Get ready, folks. America has bought a car company. As of Monday, we, the taxpayers, own a majority stake in General Motors Corp. Whether the company will be formally renamed Government Motors remains to be seen. But that's what it will be.
GM filed for bankruptcy Monday. Instead of putting the failed car enterprise into bankruptcy six months ago - where Carl Icahn or Wilbur Ross could have bought it - the Bush administration chose Bailout Nation. Under Team Obama, that bailout has morphed into full-scale government ownership. Twenty billion dollars of Troubled Asset Relief Program money is already invested in GM, with another $50 billion on the way. And that number could easily double unless GM car sales miraculously climb back to 14 million this year. That's highly unlikely, with sales presently hovering around 9 million a year.
In other words, taxpayers won't get their money back. Yes, we the people will be left holding the bag for the mistakes of GM's management and labor leaders over the past four decades.
And with CAFE mileage standards ratcheting up - all while GM is going down - Team Obama's green vision for the economy will soon be crystal clear. With President Obama in the driver's seat, we will get little green two-door cars that most folks won't want to buy.
Even worse, United Auto Workers chief Ron Gettelfinger has made it plain that his powerful union won't let these cars be manufactured in low-cost nonunion plants overseas. The result? Mr. Obama's little green cars will be unprofitable, as well.
It's the bigger picture that has me most concerned. What does Government Motors say about the direction of the United States? Historically, we don't own car companies - or banks or insurance firms. But we do now.
(Excerpt) Read more at washingtontimes.com ...
I will NEVER buy an Obamamobile from Government Motors!
The UAW has been screwing the American consumer for decades....now they are screwing us again.
They will when Obama raises the gas tax and it's $6 a gallon. Obama will even print up more money and subsidize the purchase. And of course government employees who drive low mpg cars will not get raises.
GM will proper. People will buy the very popular Malibu and new Equinox (30 MPG+). The 2009 and 2010 Corvettes are beautiful affordable machines.
GM is going to succeed and I hope it does. Too many real families will be hurt if it fails. They have GREAT PRODUCT, if you think otherwise, you’re ignorant.
You may not agree with what is happening, I certainly don’t, but GM will survive with or without you.
Soon we will be told that it’s unpatriotic not to drive an Obamacar. Of course that strategy will sink like a stone since Obmaa’s base basically drives non-union Hondas and Toyotas.
It’s the bigger picture that has me most concerned. What does Government Motors say about the direction of the United States? Historically, we don’t own car companies - or banks or insurance firms. But we do now.
What it says is Obama is suceeding in his desire to destroy what was America and remake it in the image he and the liberals have long desired. European Union Lite.
B-b-but Zero SAID he didn’t WANT to own GM and wouldn’t be making the decisions for them.......he SAID so. Honest![s/]
So I am GM and I think its a great idea to have a line of SUV hybrids....big ole honkin things....wonder how that will fly? [Not wondering long....]
I swear, I don’t know if Zero is an idiot and believes the crap he spews during his bouts of oral diarhea or if he thinks we are stupid dolts.
Either way, he and his band of clowns make my ears bleed everytime they open their mouths.
You haven't seen mismanagement YET!
BTW, Corvettes suck!
(GM will proper. People will buy the very popular Malibu and new Equinox (30 MPG+). The 2009 and 2010 Corvettes are beautiful affordable machines.)
I HAD A MALIBU AND IT WAS AN ABSOLUTE PIECE OF CRAP. AS TO THE CORVETTES BEING AFFORDABLE YOU ARE NOT AS FUNNY AS YOU THINK.
Hey, it is good enough for government!
A lot of people I have talked to said they WILL NOT buy a GM product again.
It will be federally mandated to survive. If it could survive on it’s own we would not be discussing this.
(You may not agree with what is happening, I certainly don’t, but GM will survive with or without you.)
REALLY? NAME THE COMPANY THAT HAS SUCEEDED WITHOUT CUSTOMERS.
WITHOUT ME, WITHOUT OTHER CITIZENS WILLING TO BUY THE PRODUCT THEY WILL NOT SURVIVE. BEING SUBSIDIZED BY CITIZENS TAX DOLLARS IS NOT SURVIVING.
Apparently GM HAS survived AND with hefty help from everybody who pays taxes. And yes, GM has made some great cars. Unfortunately these aren't the cars that Uncle Sugar has decided we SHOULD be driving. I wonder how many more years we the people are going to have to ensure that "GM will survive". In reality what we the people are really being required to do is pay the cost of organized labor. The Gov't's been doing that for years of course with California probably the best example of what happens when people find out they can vote themselves pay raises.
America has bought a car company. As of Monday, we, the taxpayers, own a majority stake in General Motors Corp.
The article undoubtedly is good. The problem is that we-the-people can no longer accept the identification of ourselves with the government. "We" don't own GM. The government does.It is sloppy thinking to indicate otherwise.
FORD
Its not going to be a matter of if we want to buy them. The idea is that they will be soo subsidized by the tax payer, doesn’t matter if they turn a profit or not.
All the greens will bow down and worship the messiah.
The elephant was a mouse designed by a government committee, as the saying goes.
I'll keep driving GM products, but the newest of those was made nearly 20 years ago, and my daily driver is 34...
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