Oh good, the taxpayers of the United States are now the proud owners of GM and a 31 year old with no business experience is the de-facto CEO via his government job. Let's see...there must be some example of the government running something that should be private and making it profitable. Medicare? No, bad example. TVA? No, bad example and one I am quite familiar with as a TVA retiree. Postal Service? Oops, those stamp prices just went up again! Amtrak? No, and Amtrak is perhaps the worst example of them all. Hmmm. I am stumped.
Well, as proud owners of an automotive giant, shall we all celebrate? I'm with you, Dave, I've never known of anything the government has touched that has prospered. Social Security, um, no. IRS, well, they're doing a great job. What is our national debt now? Hmmm, I can't count that high.
What are we going to call our new Chrysler company? Dodge-it, Chryat, Fidochry, Damdidn'tdoit, Fiatcy, Fiachry, can't think of a good one.
It is profound to think that the mighty GM, once the largest corporation in the country, is being booted from the Dow next week (along with Citibank) and a 1st grader could buy a share of GM stock with his lunch money.
I can't believe I left social security off my list.
Any bets on who will buy the Hummer line? I'm betting on one of the OPEC nations, probably Dubai. There will surely be a HUGE trickle down effect. Will the tax payers end up owning the part companies as well? They're laying off over 35,000 people. How is that helping the economy? How about those that have retired, are they going to pull their pensions? This is a total travesty of mismanagement, and that's an understatement. Have all their shares of common stock become junk rating?