I think the General Motors side of the story is one that most folks have a bad feeling over. Once you lifted them up and focused all that money into the company....they just haven’t shown that much ability to survive. This has even influenced folks to bypass the GM dealers and head to Ford or the Japanese brands. I suspect we have an entire generation of buyers who will never step foot into a GM dealership ever again....all because of Gov’t involvement.
Within the last month I had to buy a new car to replace a GM product and I refused even to look at any GM car. I bought a foreign car instead of subsidizing Obama’s Volt.
Whether your suspicions bear out or not, FWIW I will never buy a Gov'ment Motors vehicle ever again. Period. End of discussion. Which is sad, really. At one time GM, and especially Buick, made fine vehicles.
Now? Oldsmobile's gone. Pontiac?--poof. And the very name GM has been so sullied by our Community Agitator in Chief that its once proud reputation has effectively been flushed down the crapper. Thanks, Barry!
That's what amazes me about those who still support Obama and his fellow travelers: his "anti-Midas" touch turns things to sh_t (Solyndra, anyone?), and yet they continue to cheer as if his touch were the golden one.
The transfer of equity from legal bondholders to the union essentially robbed every investor, many of whom are elderly. As a result of ignoring existing bankruptcy law in favor of the union, I (and I suspect a number of other investors) refuse to consider bonds as an investment. This is especially true for any potentially troubled corporation or even U.S. Treasuries. I continue to fear Congress will attempt to take over (oversee)individual IRAs and force investment in U.S. notes and bonds. When bankruptcy follows, wealth transfer accomplished. Of course the alternative of higher taxes and inflation is just as bad. If government spending is not stopped and unions brought under control, what once was an exceptional country and beacon to the world is lost.
we have an entire generation of buyers who will never step foot into a GM dealership ever again....
Right on! In the past 50 years I have owned nothing but GM products. Today I own a 2002 Jeep and a 2010 ford. Never again will I purchase and drive a GM vehicle.