But the gov't didn't take full control, buy up majority stake, limit pay limits, tell depters (who get paid first in any other bankruptcy) that they can basically take stock worth $0.10 on the dollar or nothing at all. That was also before the Japanese makers had a stronghold and decent size market share. What's happening now is no different than how Hugo Chevez took over the oil companies in Venezuela. How ironic that now that the gov't owns majority in the company that it now doesn't have to pay back the loans... huh, how about that. I said this would happen back when they first gave em the money. I support GM for the history, the love of cars, the engineering and design teams. Not for the politics which will drive it into ground.
Not saying I won't buy another GM vehicle, my next daily driver may be a Cobalt SS. I'll still give em til the end of the year to see what is really going to come out of this. I do NOT want GM to get driven into the ground, I also do not want to see Camaro, Corvette, GM performance devision or any other niche/specialty vehicle or progam to get axed because of an administrations unproven theory on global warming or using the "bad use of taxpayer money" excuse. The Hot Rod Power Tours stop at the Tech Center this year has been cancelled because of the use of "tax payer money" to set it up.......thanks Obbie admin!! Yes I was looking forward to it and was going to drive up there on June 9th. I'm also worried as to what will happen for the Woodward Dreamcruise in August also.
I always make purchase decisions based on product, that is why I can tell you that when GM starts importing Buicks from China, I will NOT be buying one.
There's a difference between being "involved" and "taking over"