General Motors: Bailout vs. Buyout
My latest at Examiner.com, on the unprecedented move by Barack Obama to request the resignation of Rick Wagoner.
Thanks to everyone who has been clicking over (it’s how I get paid) - I have finally become one of the “Top Examiners”!
A Honda Civic would cost $50,000 and be built overseas if GM, Chrysler, the UAW/CAW, Ford and the ‘job protecting’ politicians they own got their way.
But they would give you a deal on a K-Car, Pinto or Chevy Vega for $45,000!
None of these people are friends of the taxpaying consumer. Screw them, let them fail.
ps. Obama is a corporate fascist.
Comment by Philanthropist — April 1, 2009 @ 1:11 am
Who in her/his right mind would buy a product from an Obama managed company? Regardless of price or value, if one cares about one’s money, one will never buy a GM automobile as long as Team Obama figures in company decision-making.
Additionally, who would invest a dollar he/she cared about in a company in which Obama had control?
By intervening and not allowing GM to take Chapter 11, Obama preserved current executive pay as well as the UAW contracts. Both of these need to be re-evaluated in Bankruptcy Court. Instead, Obama is going to have to come back to the taxpayers to shell out billions to keep the UAW workers paid - even though no one will be buying their cars.
Comment by MAS1916 — April 1, 2009 @ 3:21 pm
Temovate…
My latest at Examiner.com on the unprecedented move by Barack Obama to request the resignation of Ri [...]…
Trackback by Temovate — September 2, 2009 @ 4:06 pm