Monday, June 01, 2009
GM down
Polistra has said before that a well-organized bankruptcy would be a good thing for GM. Remains to be seen whether this particular bankruptcy will be more like Studebaker (competent car men took over, company thrived) or more like Willys (idiot bean-counters took over, company failed).
One big question remains: If the bankruptcy was going to happen anyway, why did we pour 20 Billion into a black hole? Wouldn't the same 20 Bil have done more good in the form of a "defense contract" to build high-speed rail equipment? ¶ 7:11 AM
Polistra has said before that a well-organized bankruptcy would be a good thing for GM. Remains to be seen whether this particular bankruptcy will be more like Studebaker (competent car men took over, company thrived) or more like Willys (idiot bean-counters took over, company failed).
One big question remains: If the bankruptcy was going to happen anyway, why did we pour 20 Billion into a black hole? Wouldn't the same 20 Bil have done more good in the form of a "defense contract" to build high-speed rail equipment? ¶ 7:11 AM
