Obama and his magic fairies need to keep their hands off and let established law and market forces work.
If they had done so four years ago, would they not be well along the road to recovery today?
I used to think GM's biggest problem was having a work force adding to under 100,000 trying to suppoert a retired force approaching 1,000,000. The rounding may be off, but the ratios tell a story. Has any of this changed after the bail out?
That is what should have happened a couple years ago instead of a taxpayer bailout of GM’s unions that screwed its secured creditors. Obama kept a company together that didn’t make sense and he also kept their unsustainable cost structure in place. Now, instead of having several smaller parts that are in a position to compete and grow, we have the same monstrosity we had before that eventually will fail again.
What, GM losing money? How is this possible? It wasn’t too long ago that they paid all their union members “bonuses” because of their high “profits”. Could those high numbers have been because they sold most of their output to the government?