Obama may soon send GM into bankruptcy
Obama may soon send GM into bankruptcy.
The head of the executive branch of our government may soon send one of the largest and oldest companies into legal protection to mask the additional lending of billions of dollars in an attempt to salvage the company from the depths of less-than-mediocrity and insolvency. Obama's way.
Billions of dollars of your money, and don't be mistaken that it is your money, in one way or another, will go into a company that produces vehicles that you may not own, and likely, ought not to buy. Just because the company is "American."
But by the way, let's not mention that this "American" company was recently reported to be shifting "more production of vehicles bound for the U.S. market to China, Mexico, South Korea and Japan, but will keep total imports at roughly one-third of all sales here."
The percentage of sales here will remain at one-third, they say, but think about this rationally. They are increasing production abroad, but hoping to keep the number of sales domestically at the same foreign-produced percentage. That simple math requires sales domestically to increase, along, of course, with an equal increase in domestic production.
But what happens if sales don't increase domestically? Production will be cut back, and which production will be cut first? The cheap foreign production in China, or the much more expensive production domestically?
Your "American" company will become less and less American. Or, your tax dollars will support domestic production of vehicles you don't want, only to support a businesss model that shouldn't be suriviving.
So what should happen to GM? I can't give you the answer, but Obama shouldn't either.
Not as long as he's in the position of the branch of government designed to execute that law of a different branch, rather than playing puppetmaster trying to save an American institution suffering from the failure of your and my lack of "dollar votes."