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.
The one city where Americans on average can? Washington DC!
We are just beginning to get the story on why vehicles were not recalled to GM when they should have been. That the vehicles involved might have shown the government sponsored car manufacturer in a bad light had nothing to do with the slow response of course.
GM at this point should be GMC, Corvette, and Cadillac. These make make sense. There are customers for them and the quality of the cars is nearly that of Japanese and German autos. Cadillac particularly has made tremendous strides. It’s no Mercedes Benz or even BMW, but it has gotten consistently better over the last 10 years. The bumpers don’t fall off anymore. (Remember the Coupe Deville?)
I have to admit, I once bought a new car. I was in my mid-20s. I had no children. I still didn’t know the fun of a mortgage. The car was blisteringly fast and I like cars which go fast. So I bought one fresh and new. I shouldn’t have.
The bailouts were worked for the politically important United Auto Workers. For pretty much everyone else it wasn’t such a good deal.
Earlier this year the Treasury decided to sell off the remaining position it (and the taxpayers) had in Government Motors at a $10 billion loss.