GM Says Thank You

I found the fact that GM said thank you to the American public in a holiday commercial to be classy. I appreciate the recognition, humility and hope for the future that is represented in this video clip.

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2 thoughts on “GM Says Thank You

  1. GM got a good deal. Demokrats bought votes. Taxpayers were forced to pay the cost. Sugar coat it any way one wishes, those are the facts. If GM had failed, another manufacturer would have stepped in and met market demand for vehicles. Stockholders and bondholders would have had to absorb the loss of their capital. It would have cost taxpayers nothing. The best thing to do with a failed system is to let it fail. Then, there will be a willingness to replace it with a system that will work. GM is a solid example of a failed system. Politicians buying votes with taxpayer money by propping up such a failed system only puts off till later the ultimate financial reckoning that will come. So it went for Oldsmobile, Saturn, Plymouth, Mercury and scores of other automakers. So it went for a broad range of mills and industrial plants. Forcing taxpayers to pay to keep a failed car producer in business only subsidizes failure. Ford did not require such help. If the federal govt. really wanted to do something positive, it would have supported those auto manufacturers who were not failing. GM should have been left to get up on its own, with whatever capital investors were willing to risk rather than taxpayers being forced to shoulder the burden to protect investors from facing the consequences of their own risk taking.

    • bthomas – I appreciate your comment. However, the post didn’t mention anything about the decisions that lead to GM’s move out of bankruptcy. Whether or not you agree with the government’s decision to bailout GM, I hope that you would agree that it was a classy move to say thank you for it. I haven’t heard a thank you from any other institution or business that received government intervention to stay in business.

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