Another reason government run anything wont work

[reelop19]

http://money.cnn.com/2010/02/22/autos/gm_fritz_henderson.fortune/?section=magazines_fortune

[ALYKZANDYR]

[mar1t1me]

And, what the hell does that have to do with the government?

[Collin]

reelop, again?

[LBJefferies]

And, what the hell does that have to do with the government?

GM is 61% owned by the US Government.

[decay]

GM is 61% owned by the US Government.

so it's the government's fault that GM failed when they've been basing most of their business focus on SUVs during a time when gas prices have fluctuated wildly, and otherwise mostly selling shitboxes and rebadged daewoos/suzukis/isuzus for the two decades prior?

i see.

[z31maniac]

so it's the government's fault that GM failed when they've been basing most of their business focus on SUVs during a time when gas prices have fluctuated wildly, and otherwise mostly selling shitboxes and rebadged daewoos/suzukis/isuzus for the two decades prior?

i see.

I think it's more about one of the CEO's on board during GM's demise, being brought back as a consultant to the tune of $60,000 for a 20 hour month, or $3000/hr.

That's just what I get from READING the article posted.

[Will_318i]

[decay]

I think it's more about one of the CEO's on board during GM's demise, being brought back as a consultant to the tune of $60,000 for a 20 hour month, or $3000/hr.

That's just what I get from READING the article posted.

sure, that's a contributing factor also- but certainly not one that's unique to businesses where the gov't has their fingers involved.

both that and what i said are examples of what i think can be described as a "bad business model"...

i have no vested interest in defending the government here, but is it really their fault just because they happen to be holding the ball right now? that's the leap in logic that i'm questioning.

[ALYKZANDYR]

American cars are shitty, all plastic, and just slapped together. and on top of that, they are ( atleast nowadays) butt fucking ugly and bland. I think GM shouldve benn let fail. because they build shit cars, that no one wants to buy, so why should they have been alowed to not die. I understand if Gm died, many jobs will be lost, but GM and all american car companies out source alot of their parts so jobs are lost that way, so it is GM's management that is at fault, because they green light the ugly and bland cars no one wants for production, and decide where the parts come from, and car assembly is to happen. GM, ( and all the banks what were on edge) should;ve been allowed to die. Sink or swim mother fucker.

[E30 Wagen]

^

plus a billion gazillion thousands

our biggest companies really screwed us over by outsourcing so many jobs. It absolutely destroyed Michigan. Damn you Granholm!!

[nando]

I love GM. mostly because they're so easy to make fun of. Government Motors anyone? It's scary how well they actually embody that moniker..

[jrhaile]

American car company's fail because of the Union's which are 100% Pro-Democratic. They don't have a chance in hell to produce anything that the public wants because of their costs.

[reelop19]

Ex-CEO comes back making 3k an hour and nobody sees whats wrong with that? By the way that CEO was fired by the white house and labeled a theif after the bailouts and made to be all that is evil.

[mar1t1me]

GM is 61% owned by the US Government.

So because the people the "owners" left in charge brought back one of their old cronies, it's the "owners" fault?

To me, it simply symbolizes the inept style of management that has pervaded GM for decades. Read this book. That shit is nothing new....

The big problem is pouring money into businesses that cannot support themselves, whether they be banks, automakers or sports teams.

Britain tried to shore their auto industry much the same way. It failed.

Will we ever learn???