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With $33.6 Billion Cash, If GM Can’t Tell the Truth They Can Give Us Our Money Back

J. Galt Wrote: Sep 17, 2012 12:46 PM
GM; as a government entity such as Fanny Mae, Freddie Mac, and the US Postal Service; no longer has operating profit or credibilty as requirements in its business plan. It is now simply a mechanism to launder taxpayer money to its unions and its political supporters. The have received more money than the company's net worth.

Over the weekend General Motors fought back against critics who have been all over the company after published reports say that the government-subsidized car company is spending as much as $90,000 to produce the “breakthrough” electric car, the Chevy Volt. The Volt retails for only $40,000.

Although the company refused to release figures regarding Volt production costs, UPI quotes the company as saying that critics have "allocated product development costs across the number of Volts sold instead of allocating across the lifetime of the program, which is how business operates."

The UPI whines that the Volt has become a...

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