The new General Motors can’t give Saab away. They have tried three times, all without success. Now, along with the Saturn and Pontiac models, it appears headed to the market’s junkyard. Only the Hummer, that truly American car, developed from the original United States military design, has found a home. Unfortunately, that home is China. WTF!!!
Over the last few years, the American automakers have been moaning and groaning about the state of their economy. Yet for decades they have been outsourcing jobs overseas, failing to provide competitive products, and undermining their workforce at home. They have made sure, however, that the executives at the top were well taken care of. Even in the midst of the crisis, the CEO’s still enjoyed the luxury of corporate jets as they went to Washington with their hands out for bailouts. And bailouts they got!
Both General Motors and Chrysler received billions of taxpayer money to help prevent these companies from going bankrupt. And yet, they both went bankrupt! Now GM’s GMAC is getting even more money, $3 billion more! We give them money, they make empty promises. Bruce Bueno de Mesquita, in his “The Predictioneer’s Game” discusses the futility of this type of policy of giving items of substance for promises. It doesn’t work! Certainly not for us, the taxpayer.
Even the stimulus package served as a conduit for the auto industry. The so-called “Cash for Clunkers” program was pitched as a way to reduce smog and stimulate the economy. It did little of either, but it did cost the taxpayer billions. It also helped an industry that has shown that it cannot compete in the marketplace linger on.
What’s good for General Motors IS NOT good for the USA. General Motors should be demoted to PRIVATE! As they continue trying to dump Saab, they toss more of our money at their dealers to unload their remaining Pontiac and Saturn junk.
As we enter a New Year, we see the the SAME OLD! That is our true sob story!
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