TOLD YOU SO: Is This Really A Surprise?

Posted on May 27, 2009 by LCT Magazine

GM's SELF-INFLICTED DEBACLE: Remember how GM panicked and begged last fall amid mea culpa pledges to shape up? If only they could get billions of our taxpayer dollars, they could survive and keep thousands of jobs, while providing plenty of consumer and fleet vehicles? There's no delight in GM's impending bankruptcy -- just a vindication of everyone who properly understood the dynamics of the private sector that pointed to a much needed bankruptcy filing last fall. And here's another prediction: With majority government-union ownership, look for GM to become more like the DMV or the U.S. Postal Service. Consumers will avoid their vehicles as unions stymie quality reforms and the government forces GM to provide light, tight green vehicles that sensible consumers and chauffeured clients will avoid. For the sake of chauffeured transportation and the market for luxury vehicles, GM should spin off Cadillac now into its own viable independent brand. -- M.R. 

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