I t gives the government 60% controlling stake , It is one of the largest peacetime Naturalisations.,with the road ahead uncertain, heavy potential conflicts and many risks to tax payers.The only thing it makes clear is that the government is firmly in the business of running companies using Taxpayer Dollars(.I am quoting from the news and bloomberg) ..pretty scary all round in my humble opinion... each day there is another happening to put thye nail in the proverbial coffin, wait till VAT begins Value Added Tax at 25% you havent lived with that.... we'll be lucky if we can afford a motor scooter....
Yeah, I do not like the idea of the Government running GM. But what choice do I or anyone else have. Also, even though they are going into Bancruptcy; the Government is still going to give $32 billion to GM to restructure the automaker. Yeah, we will not ever really know where this money goes just like the other $20 billion we gave to them to help GM not go into bancruptcy. I am sure that it mostly goes to the unions not directly to building cars or to help the company get on it feet. Just my opinion.
I think you are right about the Unions,I see Hummer is going aswell.
The government saved this great car company that, unfortunately, didn't pay attention to what many of their customers wanted. Of course that is why this great company was going downhill in the first place. If they would have produced hybrid vehicles only a couple of years ago, then they would be doing okay right now and wouldn't have needed the government to save them.
I see it this way: the government is investing in the future of this country by saving GM.
Well now I was in the car business for almost 10 years before I got sick. GM had a hybird 2 years before Toyota or Honda, and the gov't paid them not to produce it..that was during the Clinton years...and then when Toyota came out with the Pruis and Honda the Insight, Gm ws too late on the technology. So maybe people should study things a little better to know what they are talking about. This President wants the gov't to own private companies and noone is going to tell me any different, it is called SOCIALISM... and when the gov't owns private companies that is what you have..period
"So maybe people should study things a little better to know what they are talking about."
I think I follow the news better than most Americans. Since you think I need to study more.... can you give me a credible link to back up your statement that GM had invented a hybrid vehicle 2 years before Toyota or Honda ? And how the government paid them not to produce it ?