NYT: GM reports first annual profit since 2004

[Lief 🗽]

http://www.nytimes.com/2011/02/25/business/25auto.html?_r=2&hp

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Well, would you look at that. I guess government and unions can work fruitfully with business for the betterment of all involved. Too bad the Republicans will ignore this and pretend it never happened.

[King]

We would've created far more jobs by letting this company with 210,000 employees liquidate and then give tax breaks to their former executives, Lief.

[Landslide Lyndon]

http://wonkroom.thinkprogress.org/2010/11/18/gm-flashbac/

Rep. John Boehner (R-OH): “Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multi-national corporation to economic viability?”

RNC Chairman Michael Steele (I miss him!): “No matter how much the President spins GM’s bankruptcy as good for the economy, it is nothing more than another government grab of a private company and another handout to the union cronies who helped bankroll his presidential campaign.”

Rep. Trent Franks (R-AZ): When government gets involved in a company, “the disaster that follows is predictable.”

[Franzl]

The GM bailout was successful. Pretty hard to deny that, but I think it's important to stress that it was an absolute exception and that it's now responsible for itself.

I'm pretty sick of poor business practices leading to bailouts for everything.

[bullmoose88]

Leaving out the possibility of funny numbers (mere reclassifications, fraud or otherwise) I'm glad GM is doing better than it has in some time, that said I wholeheartedly agree with the statement below:

The GM bailout was successful. Pretty hard to deny that, but I think it's important to stress that it was an absolute exception and that it's now responsible for itself.

I'm pretty sick of poor business practices leading to bailouts for everything.

[King]

Although I do agree with the GOP on thing: we shouldn't have helped Chrysler.  They've been a failure of a car company their entire existence with their only contribution to society being the introduction of unnecessary Jeeps off road vehicles, Dodge trucks and crap minivans to hockey mom types.

[memphis]

Surprising. I don't know anybody who drives an American car. I've heard they're big in China though.

[opebo]

Although I do agree with the GOP on thing: we shouldn't have helped Chrysler.  They've been a failure of a car company their entire existence...

Have you no soul?  Have you never seen the Blues Brothers?





Dodge, Plymouth and Chrysler have made many impressive and useful vehicles.  Like GM and to a lesser extent Ford they have been responsible for allowing a mass working class a decent life - a full sized V8 car in the garage, a boat to tow behind it, and so forth.  Don't malign them just because all cars have become bad over the last couple of decades.

[True Federalist (진정한 연방 주의자)]

V-8's are no match for a good inline-6 or a V-12.  Their only virtue is being cheaper (not less expensive, cheaper) than a V-12 and taking less space than an inline-6.