I thought he was the POTUS but now he's the CEO of GM.
He canned Rick Wagoner.
Named his replacement.
Prompted selection of a new Bd. of Directors.
Rejected GM's reorganization plan.
Set ANOTHER deadline for a new plan.
All the while saying with a straight face: " The U.S. government has no interest in running GM ." Well, I guess he isn't as long as he doesn't bother with the cafeteria menu or the decor in the Ladie's Lounge.
In actuality, of course, Obama IS running GM with TAXPAYER money rather than permit nature to take its course i.e. Chapter 11. The fact that he collected lavish contributions from the U.A.W. is OF COURSE not connected to this silliness. Let's keep it real and avoid petty partisan sniping.
As I pointed out last year, one reason GM is being propped up is to enable it to market the Volt. A vehicle whose main purpose is to please several hundred automotive engineers currently serving in the U.S. Congress. Again, the fact that Congress has voted a $7500 tax credit for purchasers of such cars clearly demonstrates that their expertise is not limited to automotive engineering and manufacturing but also includes marketing.
They MUST know something that everyone else does not. GM earns the lion's share of its profits from selling SUV's, trucks and pickups which "Barack and the Obamanations" have determined is contrary to actual consumer preferences for smaller and less crashworthy vehicles. For some reason they are ignoring plunging sales of hybrids ( W.S. J. 12/9/08 & L.A. Times 3/17/09).
Perhaps they want GM to be more like Toyota which in February, 2009 sold 13,600 Tundra and Tacoma pickups and a whopping 7,232 Priuses. Toyota sells Priuses at a loss. They make tons of money selling pickups, SUV's and Lexuses. So do Ford and GM whose best selling and most profitable models happen to be vehicles that Americans want to buy. They simply don't want the vehicles that the proponents of industrial policy want them to want. The solution is obvious: Obama, Michelle and the kids have to do car commercials. And Pelosi, Waxman and Reid have to spend less time in Washington and more time in Detroit at the drawing boards and on the test tracks. It's a Win - Win - Win.



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