Yes, I know. We the People will get all of our money back. GM will make good and the ledger will be cleared. We the People bailed out the once mighty General Motors and now all is just wonderful. GM has survived, they’re selling cars, lots of jobs were saved, we avoided another major shock to the world economy, and yada yada yada.
Folks, keep this one thought in mind as we move closer to the General Motors IPO: Every time that a GM car is sold, there is a sales person from another car company that lost the chance to make that sale. We the People will be responsible for that loss. Every time a factory worker for a non-GM company has to struggle because there was not enough overtime available, or sales were down so wages were kept low– while GM had sales, We the People will be responsible. Every time GM beats its competition on price, it will be because We the People gave GM an unfair advantage by giving the company vast sums of cash that no sane financier was willing to loan them.
GM cheated its competition and We the People aided and abetted in that cheating. And this was not just the ‘fat cats’ We the People cheated. We cheated the factory workers, the sales people, the clerks, middle managers, and the janitors of every GM competitor, and every company that might have arisen in the absence of GM, but didn’t. The so called ‘foreign automakers’ build a lot of cars here in the U.S. We the People cheated them and we cheated Ford and the many budding electrical vehicle manufacturers.
Happy IPO.
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I’m not sure where you’re coming from on this one; I’m fairly certain that Japan and Germany have helped their auto manufacturers too.
What I am interested in seeing is what the capital markets will make of the IPO, since there’s been no financials that have been released yet, and there’s no mention yet of what %’s of ownership are going up for stock purchase. Given how the secured creditors got screwed with the Chrysler & GM bankruptcies, I suspect that investors will be fairly cautious on this venture.