GM president Charles Wilson said this years ago. GM recently reported record losses and may go bankrupt. I know in this global economy foreign car makers produce a lot of autos in the US. I also know that GM has not had the best management and during the 70’s and part of the 80’s their cars were subpar in terms of reliability.
I still find it deeply unsettling that GM may go bankrupt. I’m not sure why, maybe it’s status as an American iconic brand and the thought that it may disappear. It may not affect the economy that much, but I feel like something important that is American will be lost.
I’m not usually in favor of government bailouts, but should something be done to secure GMs future. I’m usually a free market, minimal government kinda guy, though the thought of GM disappearing somehow feels wrong and bad for the country. We are bailing out Freddie Mac and Fannie Mae. Why not GM?
Wondering what others think…