Government Motors

It looks like the bondholders of General Motors totaling $27 Billion will end up with 10% of the reorganized auto company. The U.S. which has $15 Billion at risk will get 50% of the reorganized auto company and the UAW will get 39% of the reorganized auto company. Bottom line: The auto company will be run by the government and the unions.

What other large part of the economy is run the same way? Why education, of course! How has that worked for us? Here in Portland only 50% of the kids beginning high school graduate. They don’t meet standards of No Child Left Behind, in fact, I don’t think the teachers want any part of some national way of testing to see if our children are learning critical skills: the three Rs.

Then there are the government regulations that restrict thinking outside the box to teach our kids and the extra costs to meet regulations. Finally, we have no warranty that is good for the first five years for our kids that will in some way correct the lack of education and loss of income.

Can you see that the future of the domestic car industry is headed the way of education? Will 50% of the cars that come off the assembly line function for any length of time? And the government is going to be the last stop for the warranties. My God, paying to fix bad cars could mean the payments for autos will never end.

3 Responses to “Government Motors”

  1. It is mind boggling, Mike….

  2. If you thought the Yugo was a good car you’re going to love the future GM products.

  3. I’m not that much of a internet reader to be honest but your sites
    really nice, keep it up! I’ll go ahead and bookmark your site to
    come back later on. All the best

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