GM sponsors U.S. Chamber 'free enterprise tour'

http://www.detroitnews.com/article/2...terprise-tour-

 

The bailing out of GM went against everything I ever believed in with regards of capitalism. It was a necessary evil.

 

I think there were other options that would have been better but this could turn in to a long argument.

 

Here in Canada, the government gave GM a huge (low interest loan) which they payed back early... but the whole deal help GM trim the extra fat off. We (I was working for GM at the time) had 30 some dealers in Vancouver with a population of around 2.5 million - there were more in Toronto. We had dealers across the street from each other - and neither were profitable. Here in Alberta we had dealers that had not updated their stores in over +15 years - giving the corporation, as a whole, a outdated image.

It was a rough time working at a dealership - friends of mine lost their jobs (at other dealers) but all of them found the same or better employment.

 

The government is not there to pick winners and losers. The economy figures this out on its own making resources available for the best productive use. When that rule is violated you get waste. In this instance it was 10s of billions in waste. If they want to be profitable they should start building 69 Cutlasses again!

 

If they ever decided to reproduce a 69 Cutlass or any older car, no one could afford to buy it.