General Motors is dead.
It will undergo a government managed bankruptcy proceeding.
Which means the Obama administration will determine what kind of auto manufacturer comes out the other end.
(Let's forget that GM could have filed for bankruptcy protection months ago, and without the taxpayer billions it was given.)
The government will reform GM in its image, i.e., mandate that they build small, green cars.
Rest assured: this will be a miserable failure.
It will unprofitable, as all centrally planned enterprises are.
Which is a great opportunity for the Ford Motor Company.
They have taken no bailout funds, and so are not obligated to the dictates of the central planners in Washington.
They will be free to make the cars Americans want.
They will be free to operate under the price system and the profit motive.
Let's hope they avail themselves this of this great opportunity.
Here will be great experiment: centrally planned GM v. free market Ford.
My money is on the Blue Oval!
Separate But Equal Is Best Scenario
4 years ago