Two months ago, the “new” General Motors made possible by government bailouts, theft of shareholders’ equity for forced re-distribution to unions, and managerial change at government’s gunpoint, was held up as shining example of success – it was even repaying its debt to Uncle Sam early.
But the week of the Independence Day, GM announced its urgent need to borrow five billion dollars, to use in re-paying debt (ie. paying its VISA bill with a new MasterCard) and as cash reserves to counter anticipated slumping sales.
As Arte Johnson used to say on “Laugh-In:” v-e-r-y interesting.
If you...












The Flight of the Money: Where Has It Gone?