Thursday, November 18, 2010

General Motors Bounces Back, Bounces Wall Street as Well

I've never understood the conservative aversion to the automotive bailout by the government. Letting GM fail would have probably turned our Great Recession into the Great Depression II. Instead, GM went from hemorrhaging money to getting back in the black. On top of that, over a million people got to keep their jobs, and the United States still has a automobile industry.  So, it seems to have worked out for just about everybody, and barring something as yet unseen, America will get its money back and have a whole new fleet of suddenly very attractive Chevrolets, GMCs, Buicks and Cadillacs.

Seriously, a few years ago, there wasn't a car in the whole GM fleet (which used to include the deceased Pontiac and Saturn) that got me remotely excited. Now, there isn't a Chevy that doesn't look great. Even the teeny-tiny new Aveo looks kinda cute.  I'm less excited about their other lines, but plenty of people seem to like them. Years ago, the Carter administration bailed out Chrysler, and put them on a whole new path. It looks like it's happening again.  So why are conservatives such sourpusses about it?

[Excerpt]

GM gains in return to New York Stock Exchange



General Motors Co., which went bankrupt last year after almost a century on the New York Stock Exchange, advanced in its return Thursday to public trading after an initial public offering that raised more than $20 billion. . .


Read more at: SFGate

5 comments:

  1. More than likely their opposition was because, if successful, it would make Obama and the Dems look good. Topped off by the fact that most of the workers affected were those dastardly Union type.

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  2. Yeah, I guess I kinda knew that. But it's odd, for all the "America, F*ck Yeah!" talk from the right, you'd think they'd be happy when something goes well for the country.

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  3. GM and her Unions made itself an enemy of the country.
    Many kleptocrats made themselves rich, while cheating GM stockholders and 'we the people'.
    Collectivist Unions were exposed as violent stealing thugs.
    Only corrupt government contracts keep the GM cesspool open.

    America remembers.
    .

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  4. Boy, and people think I'M a glass half empty guy. Sofa, I think you need a refill.

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  5. Compared to most of Sofa's stuff, that's a fairly upbeat post.

    ReplyDelete

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