GM posted this video on YouTube on November 16th. Have a look, with a skeptical eye:
So, if GM goes under, so does the US! it should be added that Ford & Chrysler are in on this insidious plot, as well, begging the US Government for a bailout.
But it’s all dishonest. You have to diagnose the reason GM, Ford and Chrysler are hemorrhaging cash, and it boils down to systematic mismanagement. Powerline reports from Bob Cunningham that the Big Three are $160 Billion in debt, while having assets which total around $7 billion. That’s laughably insane!
To put it in perspective, that’s like someone with a yearly post-tax income of $50,000 having loans & credit card debt of $1.1 million.
Sure, the Big 3 employ thousands of people, and affect thousands of business with parts agreements and such. We’re not asking that they collapse. What we are asking is that they change their entire business structure to run a business with some kind of profit-minded mentality! Don’t request $25-50 billion to maintain a business strategy that doesn’t work.
So, fire all management and refuse bonuses. Void the union agreements. And kill product lines that are superfluous. Trim the budget, stop the spending, and run a business like it’s supposed to be run.
Don’t threaten us with “Bail us out or else!” I like my Ford vehicle, but if you’re all going to be idiots about it, I’m going to buy Japanese next time.