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 ...
Since I now own stock in GM, will I get an annual stock dividend? Certainly we’re going to share in the profits as this company is turned around under the brilliant managment of Obama, won’t we????????
The new GM will fail. Nobody with a lick of sense is going to buy roller skates when they can drive a real car.
What these idiots in Washington do not realize that we the people make this economy run. If we don’t like what you build we will not buy!
Will I get a GM car at discount?? Will I get a choice in what kind of car that GM builds????
My next car will be a Toyota - so I can drive it for the next 20 years like my current one.
I’m going to do my part. I’m never going to buy a GM or Chrysler product again. EVER!!! Do you here me, B. Hussein Obama—you illegitimate ahole—you’re a communist; you’re creating a communistic system in this country, and not one red cent of mine is going to directly finance your workers’ revolution.
You are a bastard for destorying America capitalism. Something has to be done and soon to put a stop to this crap!
I HOPE it fails.
You hope it fails? What about hope and change?
I bet that idiotic comidienne, Wanda Sykes, would tell you that she hopes your kidneys fail, if you hope that Obama’s GM (government motors) fails.
“My next car will be a Toyota - so I can drive it for the next 20 years like my current one”
Me too. Obamachev is going to have to remove all competition. No one in their right mind would buy an Obama motors car.
In ten years, America roadways is going to look like Havana. All, old pre Obama motors cars.
Its not a car company. Its a money pit. Its never going to be profitable again, and we're going to have to keep shoveling money into it indefinitely.
GM should die..
Oh yes,we must keep those union folks employed. After look at all the good they have done for our economy and quality of life. Amen.
Just like the folks in Massachusetts have the option of not buying health insurance...?
This guy never stops running and is a ward of the party. Question is who pulls his strings not proven yet.
It’s the beginning of steering the population where zero want it to go,later on it will be mandatory of course,if he lasts.
Thank you for the great post. I hope a nation-wide boycott drives GM into the ground. I don’t think that’ll ever happen, but wishes don’t cost anything, so...
Thank you for the great post. I hope a nation-wide boycott drives GM into the ground. I don’t think that’ll ever happen, but wishes don’t cost anything, so...
When they tax gas up to $7/gallon, set the national speed limit at 50 mph, and provide tax breaks for buyers of Government Motors products but not the other car companies, you’ll buy them.
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