Thursday, December 11, 2008

"Earlier in the day, G.M. confirmed that it had legal advisors — including Harvey R. Miller of the firm Weil Gotshal & Manges —to consider a possible bankruptcy, which the company until now has said would be cataclysmic not just for G.M. but for Chrysler and Ford as well. The rescue plan approved by the House on Wednesday by a vote of 237 to 170 would have extended $14 billion in loans to the troubled automakers and required them to submit to broad government oversight directed by a car czar to be named by Mr. Bush."- AP NY Times
Tsk, tsk GM. Not selling too many tanks these days, huh? Too bad thousands of people will lose jobs because a few at the top were greedy and ran the company into the ground. Perhaps in the context of everything else, they couldn't forecast a great, unprecedented economic melt down. Or maybe they're just trying to get their "get out of jail free" card. Who knows. All I know is, I put in $19 at the pump today and filled my little japanese car. At least they've got the right idea.

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