Consolation is both Chrysler and GM will probably go out of business in spite of this.
I am sure that is another auto manufacturer who will be glad to sell them cars.
Run by the government is the kiss of death.
New CEO of GM admits he knows nothing about the auto industry. Enough said.
Study up on Ed Whitacre. He was CEO and Chairman of the Board for Southwestern Bell; which incidentally went on to purchase Pacific Bell, Bellsouth, and finally the old AT&T. Under his guidance all of these heavily regulated entities were driven to profitability. Something that GM never learned. Business is business, and shareholder value is important. By the way, Mr. Whitacre moved the SBC headquarters from Missouri to Texas over onerous government taxes.
“Consolation is both Chrysler and GM will probably go out of business in spite of this.
I am sure that is another auto manufacturer who will be glad to sell them cars.”
You know, in a weird way, I think you are on to something. Many of the dealers that just got screwed by the government might be thanking the government in a few years. There may be enough of a market out there in for other manufacturers that that they can pick up another line and stay in business. Then when Government Motors and 0bama Motors go belly up (which they will do), these dealers will be in a position to pick up the market share in the other brands. Meanwhile, the Government Motors and 0bama Motors dealers will not be able to pick up an alternate brand, and will be left out in the cold.
Yes, and now they are turning to the medical field. I hope there are enough in Congress to oppose any government take over.