General Motors is a Zombie Company

in the house and in his cabinet are not going to do what's right where GM or anything else is concerned. It is Obama's goal & intent to weaken our economy and our national security; shred our constitution, destroy the traditional family, our republic, any remnant of morality & ethics......
EVERYTHING provided by our forfathers and maintained by our military and grab every ounce of power that is to be had. None of his shenannigans are happenstance. They are all intentional and designed to destroy us. And he's going to be successful if we don't stop merely talking, get on our feet and DO SOMETHING. I for one, am waiting anxiously for that giant tea party to occure in DC. The government has gotten so big for it's britches; so out of control, that the only chance we have, with God's help, is to revolt and take our country back.

Sorry if I blew right past your topic of GM; just so twitchy about whether or not we're going to salvage what we've had or let commiebama take it all away from us. We are in such deep deep doo-doo. God help us. Good post Joe.

We have several hundred INCOMPETENTS in Congress, a bunch in the WH, and the Grand Poobah of incompetence as president. And they expect to tell all of these bailed-out corporations how/what they should do? Absolutely assinine. I can't imagine any small business owner willing to let this bunch of crooked politicians run their hot dog cart or fruit stand - much less GM and AIG. THEY are the problem and THEY were the root cause of much of the economic screwups. We simply MUST get some sanity back in Congress and the WH.

don't want to save GM. They want to save the UAW. Two different animals, and different set of tactics. Great post.

Things are not good, it's true. Actions speak louder than words, as you say. But don't let your worries overcome you Even in the darkest times there is a truth that trancends it all. That is the truth that God is sovereign and in control of our destiny. So continue to put your faith in Him and change your worry to determination. That is, the determination to continue working for what is good and right. Our job is to work in the light of faith in Him. He will take care of the outcome.

Until we change the addresses of a majority of the Congress and the POTUS, we are stuck in the same position as the kid trying to plug up the hole in the dyke to keep the ocean from flooding in. It's an ocean of debt, immigrants, and socialism.

The Dems will simply be delaying the inevitable demise of GM with a continuing avalanche of borrowed bailout money.. By saving the UAW, they might be able to maintain their power for one more election cycle. After that election, they'll try to come up with something else. There's always the possibility of another crisis.

I wonder what happened to chapter 11? I know they were afraid of a bad name marking GM if that occurred, but many other companies have filled chapter 11, such as specific airlines, and are back in business. Throwing money at them won't help, especially in a recession. great post.

...and remember. Maybe you can help. At some point back in the 80's or early 90's I believe, rumors were flying that Ross Perot would do possibly a hostile takeover of GM. It never happened. Instead he decided to get involved in politics. The biggest mistake of his life. Had he opted for GM I believe they'd be a healthy company now. DD

Yes, and we might well have dodged the Bill Clinton bullet if Perot had stayed out of politics.

As far as GM is concerned, he sold Electronic Data Systems to GM in the '80s for 2.55 billion and later sold out his GM stock for 700 million dollars. The departure of Perot from GM was due to a clash of cultures between the two corporations, GM and EDS. I don't think Perot ever wanted to take over GM. Check out this interesting 1989 NY Times magazine article about GM and Perot: http://www.nytimes.com/1989/03/26/magazine/gm-vs-ross-pero t-breaking-up-is-hard-to-do.html

I personally went through two bankrupcies as an employee at TWA. They were prepackaged and I never missed a day of work. Why can't GM do the same? I haven't heard any good arguments against it.

for one simple reason...the UAW. As Mr. White points out, without the UAW, GM might not be in these straits. Of course with UAW and other union support, Obama might not be President. We have one failure bailing out the other with someone else’s money.

I will definitely NOT even consider a GM product, nor a Ford or Chrysler one. I'd rather buy a car from a company that employs Americans but will still be around a couple of years from now to honor the warranties and build spare parts...like Hyundai, Nissan, Honda....