Government to own 70% of GM

[Lemaitre]

President Obama has made it clear he is absolutely committed to the survival of GM which needs billions of dollars immediately to keep operating. Since the private sector has not seen fit to take advantage of this investment opportunity represented by GM, it is now up to the Government whether GM lives or dies. The Obama Administration seems to believe it can justify the risk of lending billions of more dollars to GM by taking a 70% ownership stake in the company. I really do not see how this can work. The U.S. Government is not set up to operate private corporations and has no experience in it and now it plans to take ownership of the largest and most complicated manufacturing company in the country. I do not see how this can end well.

[jeepkid]

ORIGINAL: Lemaitre

I do not see how this can end well.

I totally agree.

[Fieldmouse]

ORIGINAL: jeepkid

I totally agree.

It dosen't. GM is done now because it didn't file sooner. Bush F'ed up giving them the first bailout but Obama bought them with big daddy power. How many of you out there are willing to buy a chunck of steel that you already paid for without your input?

Screw them, by FORD!

[Doe Dumper]

Only opportunity I see with GM is a chance to lose your investment. Government car companies dont work.. government anything excursions into the private sector definitely dont work.. Even though I just bought a new Dpdge Ram this winter which is a nice ride and I have zero complaints with it. I am DONE with GM and Dodge. No mas!

[Champlain Islander]

I got a letter from the VP of GM the other day saying they were still the car company to buy and that even though times are difficult nothing has changed. It almost made me puke. I wonder how much those letters cost just to keep their client base. I plan to get out from under my 2007 Silverado in the fall.I doubt that I will get another GM and certainly will never own another Chrysler.