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Sadly in the end none of it will matter... So-called Americans have proved time and time again they will NOT support their own country. Anything foreign is good and domestic is considered bad. And I'm not hating on foreign cars, I'm just saying have some pride and support your own for a change people. GM could pay back that loan ten times over and haters will still call them Government Motors! Chrysler... well just when it became American again they sold out... again! And Ford is doing well but it's a shadow of its former self; down to just two divisions. I'm a proud American and I'll buy American... Even if the only thing left to buy is used!
It is hard to look at a GM or Chrysler car without thinking of the billions of dollars lost by old GM and Chrysler stock holders and creditors. Labor was treated favorably by the bankruptcy even though they helped drive the corporation into bankruptcy. Investors and creditors lost practically everything, while I don’t think that the unions actually had any capitol invested in the old GM and Chrysler. Now the government gets to tell GM what cars to make. Thank goodness Ford is making good cars and prospering without government support.
I would have 0 problem buying Japanese imports if our trade balance wasn't so hugely unfair... in short if they buy something from us it has to be the best and at the cheapest price. However like many who have posted we will gladly gobble up their tin can sleds and call them superior.
The Big 3 has come along way... leave your 90's and 80's rehetoric for simpletons and for those who depend on foreign companies for a living.
With the bankruptcy a lot of the legacy costs were handed over to be managed by the UAW and no longer show on the GM balance sheet. This is the main reason for the new GM profitability even though sales are still low compared to 4-5 years ago.
Deadeye111 Fair enough! " What I dont get is: "tax payer has to pay for the mistake"
Where was all this passion for Taxpayyers when billions were bing given to Toyota and Nissan to build their auto plants here in Tenn and Ky? GOP Senator Shelby ranted about the GM bailout, but he supported giving billions to Toyota when they built their plant in his state... GA gave KIA an estimated 4 billion in incentives. How many billions did BMW get to build in South Carolina?
I am tired of people bashing America. If we can give BILLIONS to foriegn car makers, why are we angry to do it for US car makers. We cant continue this bashing of America. Peace!