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Once
upon a time, prudent behavior by investors would have demanded
that a total and clear investigation on sinking tens of billions
into a company would result in saving a company worth saving.
Over
the decades through the late 1900's, GM proved itself to be as
incompetently managed a company as you could ever
conceive. The company was so inefficiently managed and
run that it introduced brands that were half-baked or
ill-conceived on a long term strategic basis (Saturn and Hummer
respectively). Saturn had the promise of delivering a
great dealer service experience but offered some of the worst
products ever sold in the United States. Hummer, a
brand that would restore testicles to men without them (or to give
lesbians that which they craved), offered a chilling shelf life of
two years before global warming made it a scapegoat for half of
the warming we were or weren't experiencing. But
GM decided to expand this brand and took GMC trucks and rebodied
them and even was going to expand the lineup before gas prices
made such a brand a laughing stock of the thinking world.
Throughout
the 1990's and 2000's GM offered not one hint that it had a
friggin' clue how to build even an average product. It
continued to design and build some of the most mediocre products
and then produced so many that they had to offer rebates to clear
out the dealer lots that were jam-packed.
With
the collapse of the U.S. economy from bundled bad loans, giving
mortgages to satisfy social experimentation without the loan
recipients ever having any hope of paying back the loans, and a
financial system so overleveraged that it bordered on extreme
criminal conduct, the entire U.S. auto industry was stressed
beyond all hope. With the UAW being a cancer of all
cancers sucking the companies dry through extortion befit with
Organized Crime and with companies capitulating to the criminal
conduct of extortion, Detroit was prime for a collapse.
On the
eve of 2007, Ford was a laughing stock - having been such a basket
case that it was only surviving as long as its trucks could give
it profits. The rest of the lineup was
rancid. Ford had international operations that
were like step children begging for Daddy's attention and as
cooperative as the Hatfields and McCoys.
Chrysler had been ransacked by German self-righteousness with
Daimler and had been sold off to Cerebus which made Mitt Romney's
private equity firm look like it was compassionate.
Over at GM, business as usual was happening - branding was
done by marketing and there was not one piss of a difference
between a Chevrolet or a Pontiac save for plastic cladding and pig
nostrils.
Ford
rolled the dice, hired competence from Boeing in Alan Mulally, and
succumbed to reason and bet the farm on a $23 billion line of
credit that mortgaged the logo and all of the future Ford male
childrens' testicles in perpetuity. Ford might have
lucked into a way to save itself, but it was laughed and mocked
for being so foolish. GM was whistling in the
darkness toward insolvency and was off trying to show it could
build an electric vehicle with fossil fuel assist that would later
be used to save it from creditors in a significant and dishonest
bait and switch of technology and engineering. Not
often reported but totally factual, Ford, Honda, and Toyota
actually had a plan in 2008 that would have saved the suppliers -
a plan that had funds from all three automakers going into
propping up suppliers during the financial
meltdown. GM was offered to participate and they
said "fuck you" and it was clear that GM was doing what
GM always does - piss into the wind and act like they'd be saved
regardless of whether they actually acted like they wanted to live
or whether they didn't bother to get out of bed in the morning. All
the while that there was in fact a private way to finance GM's
bankruptcy as Mitt Romney factually and accurately suggested
should happen, the new Obama Administration was not concerned at
all about saving GM - it was all about paying back unions - and
this was precisely what was done - take bond and share holders and
screw them, supplant them with fake and fraudulent claims of
unions standing, and then when the dust settled, the UAW was the
only party to make money on the bailout and the funds went right
back to the Democrats through campaign contributions.
This is a crime. But who the fock cares? Little
did the fools at Obama headquarters know that the company they
were saving so that union dues could continue flowing into the DNC
wallet, that GM was not only incompetently run, but it was
criminally run. There were choices made to decline to
invest into safety of lives of owners over $2 part
costs. And this was not an isolated
instance. With hindsight being 20/20, there were
upwards of 10 million units of products that were not recalled
that would be recalled when the criminality of GM had been
exposed. Taxpayers who sank $49.5 billion in
interest and tax free contributions to an evil corporation would
never be made whole - ever - and would pay interest on the $20
billion plus that they'd never see again - and all the time the
company they saved were killing their
children! And not once - not even once -
did the Obama administration do due diligence investigating what
GM was really all about - so blind was the rush to save the UAW
over the excuse of saving jobs for a company too big to fail that
Obama became complicit in murder - vehicular homicide - because
not once did that jackass ever give a damn about anyone other than
his party and his own re-election funding. In
short, the company he saved was a company killing your kids and
then because of the bankruptcy, Obama gave GM an out - the deaths
were caused by the bankrupt GM, not by Obama Motors. Update:
Explosion of recalls of pre-bankruptcy GM products Why
is there a sudden recall in the number of pre-bankruptcy GM
products - totaling nearly 10 million vehicles?
Are we to honestly believe that suddenly Government Motors found
out that these cars catch fire or have wheels that fall off or
ignition that turns off while you are driving? I
would contend that ALL OF THESE recalls were known by GM prior to
bankruptcy and were not announced fearing that this would ruin the
bailout. And knowing that they could con incompetent
leadership like Obama into saving them (or propping them up to
save the UAW), GM dishonestly and criminally withheld recalls from
the public and from bailout attorneys long enough to get the
bailout funds. And then maybe sometime in the
future, or maybe never (!), these vehicles would be recalled when
forced to and then use the taxpayers' funds to cover the costs of
all of the recalls! We
know GM was dishonest. We know that nothing has changed at
Government Motors. So there is sufficient evidence to
ponder that the taxpayers were exploited to prop up a union to
give the Democrats campaign contributions and that recalls were
postponed or totally forgotten so that the costs could be shifted
to public funds. The
only solution now is to never buy a Government Motors product and
to allow it and the UAW to go under - pay back the Karma that
these fools have earned by shunning them and buying from more
responsible companies!
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