Quote:
Originally Posted by finnbow
I hear ya. However, the pragmatic part of me says that if we can ultimately sell GM stock and make a profit on the deal while saving hundreds of thousands of jobs, all is good. However, the stock price of GM may need to head a bit north for my pragmatic dream to pan out.
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I'll admit, I have no illusions about multinationals. Of course, GM has always held the perception of being the "American Corporation", even while they were building vehicles for Hitler. Of course, Standard Oil was selling him high octane gas for his FE109's. And we wouldn't want to forget Henry Ford.
Now I'm not too sure as to exactly what happened in the GM bailout. I understand the bondholders just got screwed. I do remember Barry saying something to the effect of, "We don't need investors to build automobiles, we need workers."
I suspect that the GM bailout was nothing more than another way to shovel more money to the bankers.
And I don't care if the only way GM can balance the books is by selling melamine Buicks to the Chinamen. I just fear that they'll wind up importing them back over here and destroying what is left of the domestic auto manufacturing base.
And what are they doing in North America? Producing the Volt, a dud that no one wants and trying to sell it for twice what it's worth to boot. And they even admit they'll lose money on every one.
Now I understand how a loss leader works, but they ain't selling green beans for 50 cents a can at the A&P.
Looks to me that the taxpayer is on the hook for a lot of buxs, and GM is still playing the old sausage game.
It's just not working out like it's supposed to.
Just some simple thoughts from a simple person.
Chas