“President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again.” Sounds like our august founder, Robert Farago, sounding off about
American Leyland the New GM. Nope, it’s Forbes this time, and they come to bury the General, not to praise him.
Louis Woodhill’s article pulls no punches. Using TTAC’s Winterkorn Meets The i30 article as evidence, combined with Car and Driver‘s decision to rank the 2012 Passat first in a family-sedan test (and the Malibu last), Woodhill states
Uh-oh. While Dan Akerson is busy rearranging the deck chairs on GM’s Titanic, Martin Winterkorn is leading VW to world domination via technical excellence.
Your humble author would suggest that it is Toyota, not Volkswagen, that has its foot on the General’s throat, but that’s a minor point.
The Forbes article rustled enough jimmies on Wednesday that the publication decided to run a counterpoint today, entitled “For GM, Bankruptcy Talk Is Its Own Fault”. The author, Micheline Maynard, argues that GM has a good cash position — sounds familiar — and plenty of ability to borrow more — which they’ve done in the past. When the best argument your defenders can make against bankruptcy is that you can borrow more money, you’re in bad shape. My AMEX is supposedly ready to charge a Lamborghini Aventador but that doesn’t mean I can pay for… hmm. Okay, I’m going to wrap this up. In unrelated news, TTAC may have a review tomorrow of the Lamborghini Aventador.