I am reading about Chrysler about to come out of bankruptcy after only about 6 weeks, with the Fiat buyout and more government money. GM just went into bankruptcy with the Obama Administration promising to push them through quickly with another $30+ Billion dollars of aid.
I don’t get it. Delphi, the parts maker that was spun off of GM and has GM as its largest customer, has been in bankruptcy for 4 years. Why doesn’t the government help them out and speed their process.
I have to say I am very disappointed with the way Obama is handling this. I am glad a new Chairman has been named for GM, but I seriously doubt an AT&T executive can understand the car business. Is this better or worse. O.K., it can’t be worse, the current leadership at GM is clueless on how to make cars people really want. They only know how to cut costs and give rebates to get people to buy their cars. I hope the ex-AT&T executive can figure out how to make cars.
It just rubs my grain that the government is taking such a large stake in this… while clearly showing favoritism to the companies that hold the most voters. How much easier does it have to be to see Obama is just protecting his re-election.
