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May 18th, 2010 at 2:04 pm
David – If losing $80 billion in 4 years can not make GM go under, what would? Answer….nothing…and GM knows this and will take full advantage of it in the future. Honestly, who wouldn’t???
The unintended consequences, moral hazards, and other hidden variables are what worry me…along with a society in which everyone gets a trophy, losers or winners. GM "was" a loser, who got a very large trophy instead of bankruptcy at the expense of our kids and grandkids. In the process, IMHO, it virtually guarantees they will not learn from their mistakes as repeat and rinse the process again in 10-20 years. I believe it will be short term good, long term bad…
Disclaimer: As a contract product design engineer…having worked on "fixing" the H2…I know more than I should, and have definately been jaded by the experience of peeking behind the curtain. To be honest, I even own a GM product…because I like fixing things…=)