Sunday, March 29, 2009

General Motors = Obama Motors

It seems that President Obama has forced GM's CEO to resign. Obama, who has never run any business, much less a big business, seems to think he knows what's best for American industry. We should have let GM go into Chapter 11 and come out leaner, meaner, and unburdened by those stupid union contracts with which it is stuck. Instead, we threw billions of dollars we don't have at the problem, with predictable results - nothing.

The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.

General Motors issued a vague statement Sunday night that did not officially confirm Wagoner's departure.

"We are anticipating an announcement soon from the Administration regarding the restructuring of the U.S. auto industry. We continue to work closely with members of the Task Force and it would not be appropriate for us to speculate on the content of any announcement," the company said.

The surprise announcement about the classically iconic American corporation is perhaps the most vivid sign yet of the tectonic change in the relationship between business and government in this era of subsidies and bailouts.

Tectonic change = government control of the means of production. This is not Capitalism. This is not the America we grew up in, nor is it the America we want. This is madness, and we have to put a stop to this.

No comments:

Post a Comment