June 3, 2009
The New GM...A Negative $90 Billion Investment for All
This video, to me, is the nail in the coffin. This video is stupid. The new GM is still a horrible company. Now they aren't 8 brands; they're 4. Chevrolet, GMC, Cadillac, and Buick survive. Buick? Who's buying Buicks? Missing are Pontiac, Hummer, Saab, and Saturn. Also, I saw a video were it talked about the fact that WE now own 60% of the company after the additional $30 billion the government is giving the new GM. That still leave $90 billion in debt. So we've "invested" $50 billions in a automotive company that is still worth -$90,000,000,000.00 afterward? We have a stupid government. Oh, but enjoy this video: Just to cover myself, if GM does survive, it will most likely be because the bankruptcy allows GM to get out of the agreements with the UAW. If they can reduce the cost of making vehicles by getting out of the horrible agreements with the United Auto Workers Union, they may be able to make a profit on the vehicles the build. We shall see.