In his struggles to find something positive about his time as President (that doesn’t have to do with Osama bin Laden), and to justify the massive bailout of the auto companies that happened under his watch, President Obama has begun touting GM’s supposed turnaround as a success for his administration. However, there’s more to the story than what he wants to tell us. At least | Read More »
Desperate times call for desperate measures, and the United Auto Workers’ Bob King thinks he’s just the union boss to make a go of it. With negotiations about to start with the Big Three American auto companies (two of which are UAW-owned), King is ramping up his rhetoric against the CEO of the only automaker that taxpayers did not bail out (Ford’s Mulally), while plotting | Read More »
I would have let you collapse, GM. So there’s no need to thank me for your government seizure. My no doubt naive belief in basic capitalism precludes me from fully appreciating said thanks; or, indeed, appreciating them at all. How much of MY tax money went into making this self-congratulatory paean to Italian-style fascism, by the way? Whatever it was, it was too much. Moe | Read More »
The company formally known as General Motors (informally known as Government Motors) is preparing for an initial public stock offering (IPO). However, it appears the attractiveness of the “new” GM continues to be scarred by an old curse, the United Auto Workers. While many Americans have already sworn off the buying of GM-made vehicles, investing in General Motors, alongside the United Auto Workers may be | Read More »
Cross-Posted: TobyToons
From the diaries, by Erick “Government Motors” and its new Chevy Volt is an epic fail. Taxpayer money bought a bankrupt business, which then proceeded to build cars that no one wants to buy. Friday’s New York Times offers a rare opinion that actually makes sense:
The short version? Having the government do your restructuring for you isn’t necessarily the brightest thing in the world. Particularly when there’s a variety of conflicting objectives. At least, if what you’re trying to do is actually create a better version of your company; if your goal is to use government fiat to streamline the operations of your newly government-owned automobile manufacturer it apparently works | Read More »
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