GM

I don’t know anything about cars.

Taking this job is a public service.

A business is a business, and I think I can learn about cars. I’m not that old, and I think the business principles are the same, all statement from Whitacre, the new CEO of GM, said yesterday.

Why do I see the beginning of another AMTRAK?

When the new CEO of a failed company, knows nothing about that particular business, and all of Congress and the President will have their say in how you do things, I think it is doomed to be a ward of the government forever.

Barny Frank has already over ruled a plant closure in his district. GM was going to move some operations to China to save money, and was over ruled by congress.

Seems like just yesterday Our Dear Leader said they were going to stay out of the business end.

GM is now looking at 3 plants that were on it's original list to close down. One of them will be making its New Line of Smaller More Efficient Cars. That sure sounds like something Congress would mandate.

Good for whichever plant they decide to keep open. I know the one in Spring Hill, TN has 5,000 employee's. The closing of that plant will be devastating on the local economy.

The government will not let the new GM fail. Whether they make money or not, we will be subsidizing them for ever, just like AMTRAK. Congress will not be able to stay out of the business. I see nothing but disaster written all over this.

Penske bought Saturn, they'll be made in China now.

Gm sold the Hummer line, to a company in China.

The government gave FIAT the Chrysler company. Along with billions to sweeten the deal.

Both former proud companies are taking half their dealerships away from folks who seem to be receiving no compensation. In fact, are being told they must sell off their inventory by next week, but without any discounts or factory warranties. Yeah, they can't sell them with warranties as it is. Average dealer has 50 employee's. So what, 1,500 dealers times 50 employee's, that is how many people just from dealerships that will be unemployed on next months roaster.

The stockholders got shafted, thanks to the government writing the bankruptcy law to suit what it wanted to do. They are now spinning it as they got a better deal than they would have. I seriously doubt that. The Supreme Court caved to the Administration in this illegal deal.

These companies originally were too big to fail, because they would put a 100 billion dollar hole in the economy. So far we have sunk 80 Billion into keeping them open, with no end in sight. Still losing thousands of jobs, had picked the Board of Directors with political friends, and a CEO who knows nothing about the auto industry. Yes, this is a typical government operation.

When they start regulating Ford out of business, it should come as no surprise.

But hey, the economy is turning around. At least that is what they want you to think.