In response to:

GM Goes From Bad to Worse Despite Obama Bailout

RodT Wrote: Aug 23, 2012 4:01 PM
GM was never to big to fail. So it failed. Just because wizards in our government decided the tax payers would go ahead and bail out the UAW so they would continue their bleeding of GM and allow a few cars to be produced, that didn’t solve the GM problem, it just prolonged the agony. A normal bankruptcy would have saved tax payers $80 Billion and GM would either be profitable now, although non-union, or gone. Either way would have been a lot better then Barry’s great scam. Barry’s a proven loser, not an investor genius.
RodT Wrote: Aug 23, 2012 4:05 PM
It’s a sad story, the demise of GM, but their fatal ailment is paying people not to work.

It’s a shared ailment that is hitting all across the land, where ever unions control the pols.
It doesn’t take a financial wizard to understand you can not pay people not to work and stay profitable, or in the case of local govts, able to live within your revenues.

This problem is union caused and until politicians are sent packing that live off of their union’s largess, it will just get worse.

GM will probably go the way of Nash and Studebaker etc.
When you are not profitable you have to end the bleeding.
loadstar Wrote: Aug 23, 2012 4:34 PM
Well said all around, Rod...so few laymen get all of this...and Obama and the Left keep telling them the Big Lies.

Hitler said, always tell BIG lies-- they are more likely to be swallowed.
WinstonSmith1 Wrote: Aug 26, 2012 7:48 PM
Uh, Hitler never said that.

It was Goebbels.

Typical right-wing idiot. FACTS... are useless.
Readers with long memories may recall that Charles E. Wilson, president of General Motors and nominee for secretary of defense, got into trouble when he told a Senate committee, "What is good for the country is good for General Motors, and what's good for General Motors is good for the country."

That was in 1953, and Wilson was trying to make the point that General Motors was such a big company -- it sold about half the cars in the U.S. back then -- that its interests were inevitably aligned with those of the country as a whole.

Things are different...