"New GM" Losses Mount
 

http://media.il.edmunds-media.com/ch...4_ns_1_196.jpg Still struggling to rebuild, General Motors sees a difficult fourth quarter but elects to begin repaying government loans ahead of schedule.

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All that money to help those turkeys, down the damn drain. Stupid ass government. :argh::argh:

And you wonder why I thought it was stupid...

Let's see, for starters, it's public money and a private company - doesn't work.

It was supposed to drop Pontiac and make less brand badged vehicles - didn't happen.

They were to stop the year end fire sales to get people to buy their product - didn't happen.

Doesn't look like they learned very much and now, neither has the Canadian and USA governments... Shame on them.

GM has their head so far up their ass I don't know how they managed to stay afloat. Of all of the struggling manufacturers I've seen begging for bailouts, they managed to beg and plead just as hard as anybody else while still maintaining a level of unprecedented arrogance refusing to budge on what was essentially free money being handed to them. Although they've done some great things, purely on principle I'd like to see them cease to exist. I think the whole system just needs to reset itself.

This is almost what I told the Canadian Federal Government in a letter. They wrote me back some sort of BS like "whine, snizzle, bitch moan" but at the end of the day it was votes in Southern Ontario...

So, we have a car company now, eh, better call the mint and get them to print more C notes - we're gonna need it.:scare2:

Yeah, it's sad.. I wonder if Canada would have been better off just offering the capital to one of the other successful companies that probably would gladly have moved in....like Toyota or Nissan. Full labour force ready to work, and save us billions in (somewhat useless) bailout money.

No kidding. Say hey look MR. CAR company here's $10B, lease this empty plant, design, manufacture and sell a vehicle in Canada for Canada and the money is yours interest free, no strings attached. Instead, hey, our boat is sinking, can we borrow huge amounts of money to see if we can patch the hole with it? I've never seen a wad of $100 bills work well as fibreglass patch... The ship is still sinking...:td: