This is what your Federal Government can do for your company:
From 6/01/2004 to 6/01/2009 GM has fallen from $46.22 to $0.87. This is directly attributable to our government's energy policies resulting from a marriage of statism and corporatism. Our President has turned into a gravedigger.
You want to blame all of this on George Bush. I will grant you that he is culpable for going along with the beginnings of this. This is the beginning of the end of the U.S. Auto industry. This President says that he doesn't want to run GM and then he states how the company is going to be managed. This country owns 60% of GM stock (Canada owns 12% and the UAW will have seats on the board of directors). The Federal Government will continue running this company into the ground, while continuing to prop it up with taxpayer money.
President Bush should have enforced bankruptcy late last year. It should have been a corporate bankruptcy and none of our tax money should have ever been given to support this sham. We "the Real Government" have no culpable role in the dismantling of our manufacturing industry. The elected officials and bureaucrats moved forward with plans that were never well thought out. Everything they have done has backfired. They have put shackles on American Ingenuity, because they do not understand that they cannot control and direct the marketplace that inspires innovation.
President Obama states that this was decades in the making. How can that be when GM was trading at $38.20 a share on 10/01/2007. That is 21 months ago. The reason why this company fell is because of our governments irrational expectations and actions when it comes to energy. $3 to $4 gasoline is what led to these consequences and how is that issue being addressed. We need more than a dream policy to bridge us to alternative energies and this President has done nothing to lay the foundation of that bridge. Once again, elected officials and this President have let us down.
We still have Ford. That is the last auto manufacturer left in this country and the only one that I would think of purchasing a car from, at this time. Most people don't understand the history of the automotive industry. The automobile was first developed in Europe, but Henry Ford was the man that made the automobile available to the common man. He did this without government help or intervention. Let's hope that Ford can be kept out of the grips of this succubus Federal government.
This country will not solve its issues until it begins to get back to basics. The further we go down this bailout road; the further we enslave future generations. Dealing with current issues, the way we are, are not going to relieve the burdens we are laying for them. We have been lied to from the get-go on this automobile issue and all of the bailouts. We were told that there would be no bankruptcy for GM. We were told that the Financial bailouts weren't going to cost us a penny, that we would get our money back and make a profit.
At what point in time does this become the current President's issue? Will he ever be held accountable for anything? It sure seems he takes us into a lot of situations without thinking of the unintended consequences. I don't see things looking to get any better anytime soon. What about all of the people who have lost their life's savings on these deals? Where is the compassion? It's time to get real people. It is time for some REALITY!!!
4 comments:
I love ya Hound, but GM didn't die because of a federal energy policy. You and others have a right to be angry, but there's no easy scapegoat here.
There is no one thing that caused GM to get to this point, but the $3 to $4 price of gasoline was definitely the tipping point -- The straw that broke the camels back.
Legacy costs that overpriced the car market was a big issue. When these two issues collided with an incompetent federal bureaucracy, then we had the perfect storm. Dealing with the energy issue would have bought more time.
Of course certain factions of this country won't deal with real issues until they become disasters. What the federal government is doing is wrong and as the next few months go by and the storms continue to batter Economic Principles, then I hate to think of the consequences.
It will be no consolation to say I told you so.
Gearheads know that most of the GM line, excluding Corvette and some Cadillac products, have been dogs for 30 years or more. The mating of government and GM should be a perfect match.
Hummers and Saturns weren't too bad. That's the obvious reason they were scrapped. So you can see that I get your point.
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