Quote:
Originally Posted by XfireZ51
What's an "Obamamobile"?
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Easy. That would be the
Chevy Volt!!
There are other failures in the lineup, but the VOLT is a prime example of the Obama administration's forcing a huge "green" looser onto GMs books; just another torpedo in the side of the GM's ship that is already taking on water.
According to David Menzies for MSN Autos, in order for the taxpayers to break even, the 26% of the shares we own would have to be at the $53/share level. However, last week it closed at approx $20/share, and GMs stock is still slipping.
People have written books describing what went wrong with GM, but the Chevy Volt and the administrations role in forcing it down GM's (that would be our) throat
deserves a chapter all by itself.
Bottom line: We all as taxpayers have an vested interest in GM's success. But, as taxpayers, are we going to throw more money at it, or should it go into bankruptcy in order to reorgainize and perhaps survive. Many think that is what should have been allowed to happen in the first place. Who knows...maybe GM would be pulling itself from it's ashes by now? I'd be willing to bet a ham sandwich the VOLT wouldn't be in the portfolio!
I hope GM survives, preferably on its own. I'd like to think I could look forward to driving a new ZR1, and maybe even see a mid-engine, 32 valve DOHC Corvette someday. (Well, I can dream, can't I??)
David Menzies' article...http://www.thepassinglane.ca/2012/08...13-malibu.html
p.