GM is a piece of shit company - a mockery of Capitalism. A GM bankrupcy will ensure other companies will not make the same mistakes.
That's b.s. and you know it. GM's problem is the same problem as the airlines, the MTA in NY, and any large corp. that has been around since the 50's: Legacy costs brought about by UNIONS. read some of the posts about the MTA strike in Chit Chat http://www.elitetrader.com/vb/showthread.php?s=&threadid=60510&perpage=6&pagenumber=1 if it were not for unions' unrealistic demands, these industries wouldn't be in bankruptcy court all the time. Mockery of capitalism, my ass. UNIONS are a mockery of capitalism. Paying someone while they are working is fine, continuing to pay them after they've retired seems absurd. Bloomie should bust the union and fire everyone who went on strike, just like Ron Reagan. Then he should run for President. And for gods sake, get the bronx subway crowd off the metro north. You should see the scared look on the Scarsdale crowd's faces If this crap keeps up, I'm done trading. I'm moving to the midwest and i'm going to raise Alpacas. Sorry to change the subject. [/rant]
lol first, pot-bellied pigs, then emus, now llllllamas! a few people have them around here. definite money-making deal there!
It's too bad for GM. But they had it coming. They are a victim of their own success. And that success has led to --- COMPLACENCY Which means, essentially, they failed to change with the times. UNIONS only helped bring it on. They are more resistant to change than GM. --- The smart company learns from its own mistakes (It may be too late for GM), but the smarter company learns from other companies' mistakes. Merry Christmas
=========== Had to get a better mortgage rate than GMac would go also. Still like my GM old 1995 Oldsmobile; what were GM execs thinking when they cut Oldsmopboile out??????? Not a stock tip, but Autozone put a non GM part[head light in my GM Oldsmobile], for free.