I'm trying to understand how a car company (GM) run by the government (70%) and the union (17%) is going to out compete the other car companies run by business people who understand the car business.
How is a government bleeding trillions of dollars going to help a car company bleeding billions of dollars eventually become profitable?
I saw in a news item today that some plants that GM had previously determined needed to be closed in order for GM to survive were now going to be kept open at the union's insistence. And you tell me that the government and the union can create a profitable company.
I'm afraid GM like nationalized companies in other socialist countries is going to be a black hole into which the government keeps pooring money down never to see it come back, but that's just my opinion.
I could be wrong. I hope I'm wrong. Best of luck to them.
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