TTAC In NYT: GM "Taking Taxpayers For A Ride"
December 2nd, 2009 5:18 PM
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No, General Motors is not paying back the taxpayers, nor will it ever fully… it’s more like a partial refund. That’s not exactly fresh news around here, but the Grey Lady called wanting the breakdown. So here it is. Just don’t ask how they misspelled the byline.
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And 2 weeks later Obama declares the US taxpayer will lose $30 BILLION DOLLARS in this debacle. Remember when he declared that this was an excellent investment for the taxpayers and that we'd get all our money back? It's gonna be a real hoot when the feds sink their fangs into the healthcare industry. I'm sure their financial projections for those costs are much, much more reliable than they were for the auto bailout.
The Big Three had nearly a 70 year 100% market share. They had nearly 40 years to react to competition when it materialized and could not respond (or refused to). Thats OK when it was their and their shareholders equity, at least you can dump a companies stock if you are displeased with its performance. The taxpayers are stuck with this white Elephant now. Most disturbing is that the Corporate culture at GM has not changed one iota.
The Big Three had nearly a 70 year 100% market share. They had nearly 40 years to react to competition when it materialized and could not respond (or refused to). Thats OK when it was their and their shareholders equity, at least you can dump a companies stock if you are displeased with its performance. The taxpayers are stuck with this white Elephant now. Most disturbing is that the Corporate culture at GM has not changed one iota.
The Big Three had nearly a 70 year 100% market share. They had nearly 40 years to react to competition when it materialized and could not respond (or refused to). Thats OK when it was their and their shareholders equity, at least you can dump a companies stock if you are displeased with its performance. The taxpayers are stuck with this white Elephant now. Most disturbing is that the Corporate culture at GM has not changed one iota.