Quote:
Originally Posted by dkb
I continually read statements on these boards like "... now the gov needs GM to be profitable."
The government and their close ally the UAW now own the company. (more than 90% including the canadian gov)
Private shareholders have been wiped out entirely. If they make a profit they'll be paying themselves and the gov has no need for a few billion in revenue from GM. They've already got trillions in tax dollars from us.
The gov does have an agenda though, it just doesn't involve making a profit.
The gov wants to make little green cars and pay off the UAW.
And the UAW has an agenda ... secure union jobs at all costs ... hence not allowing GM to bring the small cars it already makes in Europe and China over here ...
And there's the future of GM ... major decisions based on politics.
btw - It's tough to enforce a ban on politics when we're discussing a company ... which is now owned by politicians .... seems to me ....
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Please don't test me. Everyone has done just fine up until this point. It is a forum rule not my personal vendetta against political debate. All the mods uphold this.
Now, I don't dispute the relationships you maintain. Everyone wants to siphon off some leverage/contol/profitability here. And I tend to agree that letting GM go bankrupt last year was the better choice IMO. I didn't feel that way then but I do know. My personal contention now is that if GM went through Chap 11 whithout fed loans. They could get out of the union choke hold and start over. Maybe even move to right to work states where they don't have to have unions....
FWIW.