A Must-Read Article For Those Enamored With Government Motors

Updates

August 25, 2012: GM to cut a third of all Opel employees in Germany; unions give in; agree to phased downsizing

Original Post

Link here. Some data points, something for everyone who is an apologist for Government Motors --

For investors: General Motors stock finished 2011 down 46.1% – the absolute worst car or car-related product stock on the board. Besting (so to speak) the second worst by 4.5%.

For investors who shorted the stock: congratulations!

For job growth: General Motors will send Volt jobs to China. Pretty much takes the wind out of the sails of those who said a bailout was necessary to save jobs.  I guess the administration was talking about saving Chinese jobs. Fool me once, shame on you; fool me twice, shame on me -- President Clinton.

For the tax payer who bailed out General Motors before it became Government Motors: all that taxpayer-subsidized R&D for electric vehicles/batteries is now going to China. For free.

For those who "believe" in the free market: the federal government now picks winners and losers (mostly losers: Solyndra, Government Motors, bio-fuel processing plants, Fisker cars).

For dealers/service centers: all 8,000 Volts on the road are being "called back" for major structural repairs to protect the batteries from exploding prior to, during, or after an accident.  The other 4,000 Volts are still in dealer show rooms and won't have to go far for the "call back," which if the company wasn't owned by the Government, would be called a "recall."

For used car dealers: would you really want to take a used Volt in trade-in?

For used car buyers: would you really want to buy a used Volt? Be sure to check the Carfax for mishap/accident history.