It is ludicrous to think a company that has lost $80 billion dollars in the last 3 years while the economy was not bad can suddenly turn around when the economy is in the tank.
This is a company whose survival depends on car sales. Hello! Is any one at home?
Is there anything left?
So far we are on the hook for $17 billion and GM is asking for an additional $13 billion. Will we get this back when they file for protection from creditors? How long does it take to repay $30 billion when you are loosing, $10-$20 billion a year? I’m not a mathematician but I don’t think you can work that one out.
As a country, we really don’t need shares or part ownership or to be a creditor of a company that was run into the ground by people who only cared about their personal income. We do not want to loan someone money who will use it to pay for labor that is overpriced and living in the past. We really don’t want to loan money to a company who has no vision, no American spirit and no sense of innovation, pride or accomplish.
GM ran up the white flag long ago. Stop proping it up with green backs.
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