Quote of the Day: "We've Been Very Clear That Companies Needed to Be Run Commercially, Rather Than Politically."

Robert Farago
by Robert Farago

As you’ve no doubt guessed, the above quote comes courtesy of an Obama administration official. Showing infinite reserves of credulity and restraint, the Detroit News straight-up reports that “Larry Summers, the White House’s chief economic adviser, said in an interview that Congress shouldn’t interfere in the running GM and Chrysler . . . ‘We’ve been very clear that companies needed to be run commercially, rather than politically.'” Although I was recently, correctly admonished by several of our Best and Brightest for profanity, I’m going to use my last expletive here: that’s fucking awesome.

Summers was responding to H.R. 2743, “A House bill to hamstring GM’s plans to terminate franchise agreements with nearly 1,400 dealers, and seeking to reopen 789 Chrysler dealerships that closed last week.” Apparently, it now has 132 cosponsors, including House Majority Leader Steny Hoyer and House Financial Services Committee chairman Barney Frank, D-Mass.”

Our sources inside GM tell us that H.R. 2743 has the bankrupt automaker’s execs in full panic mode, like nothing before it. Good to see they still have a pulse.

Robert Farago
Robert Farago

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  • David C. Holzman David C. Holzman on Jun 17, 2009

    That's Larry.

  • GS650G GS650G on Jun 17, 2009

    All this infighting over companies no one wants to invest in and few want to buy from.

  • ZoomZoom ZoomZoom on Jun 17, 2009

    Lawrence Summers has been incompetent since the Clinton administration. I wouldn't believe him as far as I could throw him. psarhjinian : Expletives are the new italics. Haha, I like that! Lorenzo : That may have been your last overt expletive, Mr. Farago, but I suspect you have some euphemisms at the ready. Allow me to suggest one of my favorites, “stucco”, as in “when the stucco hits the fan”, “in deep stucco” and my favorite expression of futility, “shoveling stucco against the tide”. But shit is not really a swear word, is it? I always thought it was merely a noun; a statement of fact, if you will. Like "don't step in that shit." I've actually had to use that one a few times...

  • Runfromcheney Runfromcheney on Jun 17, 2009

    lw: Remember that post a while ago saying that Alan Mulally regularly reads this site? This is why: so after a stressful day at Ford, he can sit back and laugh at the stupidity of GM, Chrysler, and the government.