GM Bankruptcy
Today General Motors has filed for bankruptcy. After the American taxpayer has given them billions a pond billions of dollars. So now GM will be known has Government Motors and we as shareholders will not see anything in return for our investment.
The UAW has secured their future. The UAW along with Mr Gettlefinger will have 6 members on the board of GM to make decisions. As for the union worker, many of the plants will be closing down without any sign of them to ever re-open. I guess most of them won’t mind since it’s written in their contract that they will receive 80% of their salary while they’re out of work. Too bad all Americans can’t have that arrangement, stay home and do nothing and make at least $50,000 a year.
How is the company to ever get back on track and get the government out of it’s business if money is being handed out in such a manner?
The saddest part of this bankruptcy, is that none of the plants in foreign counties will be closing. If President Obama is trying to help America, then why isn’t he (since he is the CEO) closing those plants? The Mexico plants are going to be building the American cars for the American people. I presently own two GM vehicles and I don’t plan to buy another one when I trade them in. One of them (Pontiac Grand Prix) is no longer being built at all. AS for that matter, no more Pontiac will be built. The name is going by way of Hudson and Studebaker.
If anyone still feels that Obama is looking to help America, please seeking psychiatric treatment. Obama has no intention to help anyone except his friends who helped get him elected. The decisions he’s made in this matter of the GM bankruptcy, shows us exactly that.
Tags: America, Government, investment, Obama
