Don’t worry, the same company that just months ago said that bankruptcy was not an option, has now emerged from bankruptcy. Of course now we’re being told that all the government loans will be paid back in full and ahead of schedule. In addition, “[The new CEO] said the U.S. government, which owns a majority stake in GM, has vowed that it would not get involved in day-to-day decisions.” It seems that Congress isn’t aware of that pledge.
A majority of House members have signed onto a bill to reverse the closing of 789 Chrysler dealerships and block General Motors Corp. from closing more than 1,300, while the full House could vote on the bill as early as next week….
“A majority of the U.S. House of Representatives, an astonishing 222 members, and a quickly growing number in the Senate, from both parties, now fully recognize what is clear to the American people: The leadership of GM and Chrysler made a horrible mistake by their arbitrary termination of profitable dealerships,” the statement said. “Detroit and the (White House’s) auto task force’s flawed business plan will lead to the direct loss of more than 169,000 good jobs and cripple the U.S. auto industry’s ability to come back from bankruptcy.”
Here’s a question, have any of you actually thought to yourself how sorry you feel for these dealerships? I know I sure as shit have not.
Anyway, the executive branch is making business decisions for GM and Chrysler and Congress has decided they have veto power over the executive branch. Perhaps the government isn’t involved in “day-to-day” decisions, but they’re most certainly involved in the biggest decisions facing the companies.
Coming soon to a dealer near you:
