Tuesday, November 18, 2008

GM Board Supports Useless Management Team

Last week a General Motors spokesman said, "Nothing has changed relative to the GM board's support for the GM management team during this historically difficult economic period for the U.S. auto industry." Perhaps this is why they are a failed company with failed policies which needs to declare bankruptcy. If the board supports a management team that is going to run the company out of money in a few months so that it could not possibly continue to exist afterwards unless it receives $50 billion from the federal government, then the board needs to be fired too. GM is nothing but a failure upon a failure.

Still, I'll be very surprised if the federal government didn't bail them out. If we had the same kind of government in 1900 as we have now, Walmart would be selling buggy whips even now. Well, not selling them, but offering them for sale.

In the meantime, what will those wanting to buy an American-made car do? I don't know. Perhaps they could buy a Kia, made in Birmingham, Alabama. Or a Toyota, made in Kentucky, Indiana, or Texas. They probably even have more American-made parts in them than do GM, Chrysler, or FOrd products anyway. American-owned doesn't mean American-made, and Non-American owned doesn't mean it's not American-made. Welcome to the world economy. If GM fails, that just means a larger market share for companies like Kia and Toyota, who will then have to hire even more American workers to meet the new demand for their products.
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