Congratulations…
Congratulations to all Americans! GM has been delisted as a public company on the DOW (replaced by Cisco Systems) and the American Taxpayer now owns 60% of the new company. Cause for celebration…I dunno? If GM (under the governments watchful eye) is able to emerge from bankruptcy stronger and better positioned to compete…maybe? BUT…as a friend of mine pointed out today, GM is not going to come back producing the $40,000 Chevy Volt. So…what to do with GM now that they are mostly owned by the government? Make cars for every American free of charge? Not likely. Use factory capacity to build “green” infrastructure (trains etc)? Not likely again. Only time will tell if the once iconic GM can pull itself up by the boot straps and be relevant in today’s world.
A side note, I recently had the opportunity to see T. Boone Pickens. Boone was asked “are the big three ready and able to produce cars that run on natural gas”…his response surprised the crowd. Boone responded “GM already has 19 models that run on natural gas, they just aren’t available in America.” WHAT? If you find this even remotely aggravating, read “Taken for a Ride” and “War on the Middle Class”, it might spur you to run for office.
PS- I’m game to find out how closing 19 factories and moving the jobs to Mexico, and China is going to help the new owners (us). I’m willing to guess our representatives in Washington are willing to tell us!
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