Where’s the Presidential Debate on GM’s Crony Capitalism?

GM will always be GOVERNMENT MOTORS to me. Where’s our $10 billion? GM is a crony company through and through. Truly a boondoggle of massive proportions.

Now that is an excellent question. I can tell you the answer, but it’s still an excellent question.

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Volkswagen “Cheating” Fine Is 20 Times Higher Than GM’s For ‘Killing 174 People’

Yesterday we asked whether the EPA (or some other regulatory agency) would have gone after GM like the EPA is going after VW, had GM done what VW is alleged to have done. We argued that it likely wouldn’t have. In the back of our minds was the recent GM ignition switch scandal which the US government didn’t seem very concerned about. Well, actually the government was concerned, but not for the public. The Obama administration didn’t want to make a big stink because GM,

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Government Motors stock price now below IPO


Who knows though. Time to buy is when no one else wants something.

Still, it is gratifying to see GM, that beast of crony capitalism, struggling with its stock price. Given the option investors are choosing to put their money, even the funny money running through markets today, elsewhere.

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John Deere (and GM) says you don’t really own any vehicles bought from them, You only have “an implied license for the life of the vehicle to operate the vehicle.”

No software in this one.

That’s right. You may have paid $100,000 or more for that new tractor, but guess what? Since the software DNA, the alleged “intellectual property” of John Deere is embedded in the thing, you actually do not OWN the vehicle. It’s still John Deere’s even if the vehicle is paid off, at least the guts of the beast.

In other words if you want to mess with the code within the tractor, and GM is arguing the same thing for its cars,

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Court Lets Government Motors Keep its Liability Shield and Screw Over Crash Victims

Government Motors is a big black hole of dysfunction. People forget that prior to the 2008 Crash people referred to GM as a healthcare company which just happened to make cars. A pension crisis loomed like nobody had seen too.

Then, poof. World goes into a depression and the union workers get their healthcare and pensions taken care of. Funny how that worked.

GM should be dead and the world would be better for it. Its bailout (along with the big banks) is a disgusting chapter in American history.

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Georgia car dealer cartel tries to cut out Tesla (Because it has a better business model)

Detroit’s been killing good ideas and innovation for a long time.

Sometimes I feel there is little to like about the American auto industry. It is a crony institution from top to bottom. From senior management to the union line guy everyone has an angle. Consider why it is that the price of cars always goes up. Why don’t TVs do this? Or computers? Cars today are just rolling computers with seats, and yet every car goes up in price each year while other types of technology generally trend down over time.

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Report cites “utter incompetence”: As Recalls Mount, Was It Worth Bailing Out the ‘Old GM’?

No it was not. There are a few union members who made out like bandits and a few more senior managers who got to keep their very generous pensions. It was worth it for the president because he was able to sway Michigan and Ohio by convincing people the auto bailout was for them. But for the rest of us, the world would be better off if GM had died in 2009.

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