Quote:
Originally Posted by trademaster
If all the stars aligned we may not have dipped into depression by letting GM fail. It is possible, but in my opinion you don't bet the house on a pair of twos. The bailout was a short-term solution to a long-term problem, but that's better than no solution at all.
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excuse me, how many other big companies failed over the last six years? GM got bailed out simply because of the union voting block..
Three things contributed to the fall:
Unions
Government
Mismanagement
by the government instituting "non-right to work" laws, they crippled the ability for GM to hire cheaper labor that would keep them competitive against other manufacturers.. the unions ate GM from the inside out by their strong arm tactics (as they do with any host they leech off of).. finally, the mismanagement of GM through union contract negotiating as well as the failure to manufacture a product that people wanted to buy.. it's quiet easy to see why they failed and I'm shocked that most people who work in the private industry doesn't see this..