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 thats 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. Thats 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 GMs management and labor leaders over the last four decades.
And with CAFE mileage standards ratcheting up all while GM is going down Team Obamas green vision for the economy will soon be crystal clear. With President Obama in the drivers seat, were going to get little green two-door cars that most folks wont want to buy.
Even worse, UAW chief Ron Gettelfinger has made it plain that his powerful union wont let these cars be manufactured in low-cost non-union plants overseas. The result? Obamas little green cars are going to be unprofitable as well.
But its 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 ...
That’s a real Toyota. It must therefore be better than my Town Car in all ways.
Ah. A Russian tow truck. Long time since I’ve seen one of those.
"I will NEVER buy their brand."
I bet you do, whether you want to or not. You forget how much power the new owner has.
Government Motors will supply ALL the cars for the US gov't fleet. They will build all (or most) vehicles for the military. I suspect that at this moment state, county, and city officials are being advised that their fire, police, and other official vehicles had better come from GM, or they will have trouble with Washington. Highway funds, education grants, welfare payments - any form of federal aid could be cut off.
Looking into the future, I see the whiz kids at GM coming up with a new gadget, probably of dubious value to car owners but "Great for the Environment". Suddenly you can't buy or sell a car in the US without it, and it's only available from GM.
Far-fetched? Not to me. Obama will bull it (or something like it) through. It's the Chicago way.
Totally not necessary. When the American people see the POS green cars coming out of GM they simply won't buy them and the company will tank.
I am sure that our political betters have a plan to do away with Ford or at least take it over too.
I am not sure what the plan could be, but I am sure they won't allow any competition to Government Motors.
Related thread:
What to do if you own a GM car [After the bankruptcy]
http://www.freerepublic.com/focus/f-news/2260933/posts
Oh, yeah?
Come on down to the ACORN office, white boy. We want to talk to you.
[If you think I'm kidding -- that is literally how things were done in Chicago by the old bosses, 120 years ago.]
It won't just be our tax dollars going directly to GM,
It will include special finance incentives for those wanting a little green car and can't afford it. The cars will be subsidized to those who can't get the loan from the bank. Recall that lady during the campaign filling her gas tank, buying her car, house etc. Yeah...campaign promise kept?
[My next car will be a Toyota]
My next car will be another GM! Pre 1960 (a 1950 pickup). I have a ‘67 Camaro and a ‘57 Bel Air. GM WAS a good car company, and when I buy old classixcs I avoid buying Little Green Obamamobiles.
Government Motors is all headed to disaster. By November 2010 it will be sputtering and by November 2012 it will be spiraling in.
[In ten years, America roadways is going to look like Havana. All, old pre Obama motors cars.]
See my post just above. I think you are close to the truth, why should I buy a $40,000 green car that will last 5 yeasrs and devalue?
Hey, those Trabants are actually kind of cool. Phenolyic resin fenders!
No chance buddy.
The Baraqqis will have the “mother of all incentives” to move Government/Gettelfinger Motors cars thanks to your tax funding.
Most people will buy on price not principle.
Look at all the stuff from China now.
Very very unlikely.
They will pass laws massively racheting up licensing fees for older vehicles in the name of "green". I believe in Japan there are very few cars on the road over 10 yrs old. The Baraqqis have a similar plan.
“..in Japan there are very few cars on the road over 10 yrs old. The Baraqqis have a similar plan.”
We’ll. Charlie don’t surf.
In other words, I don’t think Japanese have the same relation to cars as Americans. For sure, ObaMugabe will have to ratchet up regulation, but I think it is likely that opposition will grow geometrically to his attempts to shoe horn us into green cars.
For some reason I don’t think you like the Messiah. (sarcasm)
I need that sticker.
Revolution ?
And there's no such thing as Quality
Inside a union factory
Only organized crime.
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