That’s Government Motors for you. But this needs to be fought.
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.
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,
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.
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,
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.
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.
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.
It never stopped being Government Motors. But the “partnership” seems to be strengthening again as the ignition switch scandal continues.
For the companies which make parts for car manufacturers Government Motors now ranks as the worst with which to do business. GM even beat out Chrysler which has traditionally occupied this particular basement.
Always will be.
No biggie. $11 billion here. $11 billion there. And because Treasury sold the shares back to GM, even though it was at a loss, the move took the restrictions off of executive pay. So that’s nice for the executives.
We’ve said multiple times that GM is a company which deserved and deserves to die. It is a shame that this company still treads the earth along with the rest of the herd of bailout dinosaurs.