Posted on 05/30/2009 4:24:08 PM PDT by reaganaut1
Get ready, folks: America is about to own a car company. As of Monday, we the taxpayers will own more than 70 percent of GM. Whether the company will be formally renamed Government Motors remains to be seen. But that’s what it will be.
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 TARP 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 car sales now hovering around 9 million a year.
In other words, taxpayers are not going to 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 last 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’re going to get little green two-door cars that most folks won’t want to buy.
Even worse, UAW chief Ron Gettelfinger has made it plain that his powerful union won’t let these cars be manufactured in low-cost non-union plants overseas. The result? Obama’s little green cars are going to be unprofitable as well.
But it’s the bigger picture that has me most concerned. What does Government Motors say about the direction of the United States?
(Excerpt) Read more at article.nationalreview.com ...
Unless the government passes some sort of law, other companies will eat GM’s lunch if all they produce is crappy cars nobody wants. I they pass such a law, they will find the black market tough to beat.
I will never buy a car from a company built or partially owned by the UAW, period!
http://www.freerepublic.com/focus/f-news/2261391/posts?page=8#8
I agree they will fail....
Just one question Where in the Constitution is this authorized ? Obama has Violated his oath to Defend and protect the Constitution ,IMPEACH him!
I refuse to buy from GM or Chrysler until they are no longer owned by the government. Ford did not take the bailout money.
The taxpayers are not going to own crap. It’s all for 0bama and his pals.
Nope. You get your satisfaction from contributing to the worker’s utopia.
Well put.
Good post.
Our best bet is to tank his numbers enough so his own party will finally have to desert him or face not being reelected since 2010 will be race after race decided by who supports zero and who doesn't.
Thanks. It’s a fact. We need an official boycott of GM and Chrysler.
A month after the gov’t took ownership in Citi I refinanced my home with BBT. No more Citi for me.
I’ll be doing the same with my cars. I’ll never buy another GM car as long as the fed has its hand in it. In fact, I hope GM, Chrysler, Citi and AIG fail.
I have two Chevys. They are my last. They were made by a private company.
I will never own a Socialist Motors car. I'll walk first.
Standard equipment includes:
In-dash teleprompter for those tricky and complicated toll booth conversations;
Audio CD of The Messiah’s book “Audacity of Hope” to be played on those calm days when no hot wind is available to power your HOPEMOBILE;
Large trunk for hauling those ACORN posters – and pre-marked ballots -- to the polling place on election day;
Ayres conditioning;
AND SO MUCH MORE!
CALL 1-888-CAR-SUCKS FOR DAILY PRICE UPDATES.
Test drive one the next windy day!
Should I start making my car payment to myself???
I’m in. My wife and I own 2; my mom and dad own 2; my brother and his wife own 2. That’s the last any of us are purchasing. The only private US automaker: FORD. Have you driven a Ford lately? Sooner than later! FORD...now more than ever!
“I’m going to do my part. I’m never going to buy a GM or Chrysler product again. EVER!!!”
Amen, bro.
Grew up in a neighborhood with a Ford assembly plant, and bought American-made autos my entire life - more than 8 of ‘em. But the Chevy I bought 3 years ago will be the last domestic I’m likely to ever get.
I’m tired of paying for bloated UAW retirement plans. I’m tired of supporting feather-bedding under the guise of a “jobs bank”. Even growing up blue collar, I’m tired of paying extra for auto worker compensation plans with total costs well beyond the hourly costs for Americans working for foreign auto makers. Even as a former member of the USW and IBEW, I’m tired of supporting the Ron Gettelfingers of the world who are quite happy to bleed their companies dry in the pursuit of class warfare.
And as a native Chicagoan, I’m damn tired of supporting the chosen one’s attempt to institute the pay-for-play strategy of the city machine on a national scale.
My next car will be a rice-burner, and that’s the way it’ll be until these idiots get their gettelfingers out of our economic system.
Every member of ACORN will get a “free” (to them) car.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.