Comments on: Report: White House to Send GM into Bankruptcy Next Week

By: Bob G

Bob G — Tue, 26 May 2009 21:11:17 +0000

#168 Jmac Says, “…I’m tired of our Billions of tax dollars being wasted to save a company that arrogantly would not transform their thinking, use creativity & innovation & retool to build vehicles that people actually want to buy! Last time I checked we live in a Capitalistic society, where survival & thriving of the fittest is what makes our economy go round. Not socialism at its finest! Let’s face it more americans buy Toyota, Honda, & Hyundai then they do GM’s.”

I think you have socialism and capitalism confused. GM *has* been making the cars that the market has demanded. Maybe SUVs don’t fit your tastes, but they have been very popular.

Meanwhile, Toyota and Honda have used their protected domestic market and direct government subsidies to give them a huge advantage, especially in the small car market.

By: Jmac

Jmac — Tue, 26 May 2009 01:36:44 +0000

Let them go Bankrupt! I’m tired of our Billions of tax dollars being wasted to save a company that arrogantly would not transform their thinking, use creativity & innovation & retool to build vehicles that people actually want to buy! Last time I checked we live in a Capitalistic society, where survival & thriving of the fittest is what makes our economy go round. Not socialism at its finest! Let’s face it more americans buy Toyota, Honda, & Hyundai then they do GM’s. Just walk around a parking lot at the mall & count how many jap & foreign cars there are, and then how many GM, Chrysler, and Ford’s there are. It’s Obvious! Let Ford be the last american car company standing, Oh & by the way keep an eye on them. They have been stated as being as competitive & comparative with Honda & Toyota.

By: BobbyG

BobbyG — Sun, 24 May 2009 03:39:37 +0000

If the bondholders are willing to put up an additional $45 billion then GM would be willing to give them an additional 50% ownership as well. The last money in, when the company is worst off gets the largest share of the pie.

By: KenEE

KenEE — Sun, 24 May 2009 03:31:33 +0000

Laws? Obama don’t need no stinking laws!

By: Preseli

Preseli — Sun, 24 May 2009 02:52:05 +0000

Rather than “reinventing” the ownership experience, I suspect that stock and bond holders alike are *repenting* of the ownership experience. I will not purchase a car (or anything else) from an agency that is 50% owned by the State.

BTW, what does “lift Chrysler out of bankruptcy” mean?

As for #108 Victor, did the government give $170 billion to its friends in AIG? How about Fannie Mae? Freddie Mac? And how many cars has the government made and sold successfully anyway?

Schills to the State!