May I ask why in the world that General Motors is being attacked now in the middle of a major reorganization? Well, could it be that the Union having negotiated with the company to reduce health care benefits, which is bleeding the company dry, now wants to change their mind? Delphi just filed bankruptcy, Ford announces 250 plus million dollar losses in the third quarter and General Motors has considered dumping GMAC and all of this ought to be a sign to folks that in fact things are tough in the United States Automaker sector. The Securities and Exchange Commission has upgraded its two investigations of GMs under funded pension accounting practices and its relationship with auto parts supplier Delphi Corp. I thought we had an ongoing saying in the automotive industry, what is good for GM is good for America? Well, what happened? It seems as if we have a huge fight going on and instead of working it out for all concerned, we now have damn regulators knocking on the door, further hurting shareholders value and scaring the industry? It is obvious that the regulatory bodies in this country have only one objective in life and that is to destroy our economic engine and replace it with socialism. What makes the government think that jumping into the problem is going to help? They cannot do anything right, as all they are, is a giant inefficient bureaucracy of epic proportions. Since the SEC is now investigating GM, I believe we ought to up the predictions of a bankruptcy filing from 30% to 55%. Wow, let us destroy even last industry that America has why dont we? It seems the Feds are attacking retail, Airlines, Oil, housing, energy and transportation. Gee who is going to hold us up when Atlas shrugs? You know the funny part about all this is now that we have massive Federal Government Debt and these morons cannot keep spending, now we will have an economic downturn that the citizens with higher taxes will have dig the country out of. Why is it every time the government messes up we get the bill? Think on that? |
