othershoe1030 wrote:What, no animated avatar of a guy rolling around on the ground laughing over the source of the quote?? This was a good article from the Economist explaining the GM deal.
It worked. GM is still with us.
The President had no desire to run it as a government owned company. You are full of BS on this one. Just get over it. You should be glad it worked because of all the jobs it saved in the supply line as well as those at GM.
As for the price of GM stock today I would say that is not a significant part of this since it is an ongoing situation and at this point unfinished work in progress.
Time will tell but right now it looks as if it was the right thing to do.
Given the circle of friends, associates and appointees surrounding President Barack Hussein Obama, how can you say he has no desire to run it as a government owned company? He has also taken over FANNIE MAE, FREDDIE MAC AND SALLIE MAE.
As for the jobs "saved" in the supply line, you have bought a bill of goods. Had GM gone through the legal bankruptcy process, GM would have been bought by fresh, new management and they would have continued to build cars. How many new cars would have been sold in America had GM gone through bankruptcy in the traditional manner?
The value of GM, as determined by the price of their stock is not significant? Really? In what fantasy world?