I posted on an earlier story about media bias. However the main point of the story was missed in the bias stuff; the fact that the US government lost $1.3 billion.
THAT is a lot of money.
Never to be seen again.
But the government bailing out the auto industry was a good idea, right?
The Union would have you believe that they have a product you wanna buy:
DETROIT – General Motors Co. should be “solidly profitable” when demand for new cars and trucks rebounds to normal levels…
“Anything remotely resembling normal industry demand, we should be solidly profitable.”
Except, just down the road, Ford is kickin’ ass and takin’ names.
My favorite insight:
…chairman and interim CEO Ed Whitacre Jr., who said GM could be profitable this year although it would depend on economic factors.
Right. So, put that statement into a pot, bring to a boil and simmer for 20 minutes. Ya know what ya get?
“We could be profitable if we are able to spend less money than we make.” Not one thing that they control will result in either spending or making. We’ll see if they make money.