The GM Scam - A Public Company? NOT!

So much for a company that is too big to fail. So much for pumping billions of our $$$$ into GM and Chrysler to avoid Chapter 11. We now have the privilege of pumping additional billions for the sole purpose of  protecting UAW pensions and jobs.

I sit watching the propagandist CFO of the "new GM" explain why the UAW needed protection in the scam that is being jammed down the taxpayers throats. This man reads from a well prepared list of talking points, carefully explaining the once in a lifetime opportunity to create a smaller, stronger GM.

It seems that the UAW required protection because it had sacrificed greatly as jobs were lost. This jerk neglects to mention that the bloated, legacy laden UAW contracts have placed a burden on the auto companies that guaranteed failure. The senior debt holders, to hell with them - Hail UAW, the voice of Obama (oh, I mean the voice of the people?). While the companies are certainly partially to blame for being tone deaf in the marketplace, the UAW facilitated the entry of foreign automakers into the U.S. market. This is a joke and another glaring example of the unending payback that Mr. Obama still owes the UAW. Chicago politics is alive and well in DC.

Another interesting bit of news this morning. The Hummer division has been sold to an "UNDISCLOSED" buyer. Is not GM a public company? Do the shareholders have a right to know how the company is broken up? Could the UAW or some other Left Wing entity be the new owners of Hummer? I answer Yes to all these questions.

Where is the transparency? Did the shareholders vote on this Hummer sale? Where is the rule of law? You know, the laws like Sarbanes-Oxley created to reduce clandestine and questionable accounting prosecutors.

The new GM is another power grab by the Administration. The one clear result of this action is the protection of the UAW.

One, however, can not question the innovative result of this corporate theft. The new GM will produce cars of enduring quality and design.

Now, this is the electric car I want to drive. Manufacturered by the newly minted UAW owned production facility based in Havana. The demonstrated accomplishments of the Cuban auto industry in the care and maintenance of 1950's U.S. cars made the transition to the electric vehicle a snap.