As a junior in high school in 1970 I bought my first car, a 64’ Pontiac GTO. It will always be my favorite. Since then I’ve owned many General Motors vehicles, including a 1975 Chevy Camaro, a 1985 Chevy 1/2 ton Scottsdale, a 1990 GMC 4-wheel drive Sierra, a 2003 GMC 4-wheel drive Canyon, and most recently a 2008 GMC 4-wheel drive crew cab Sierra. My wife has also owned several GM vehicles over the years.
It’s sad to say but my 2008 Sierra will be my last GM vehicle. I don’t believe the federal government should be in the business of making cars. I don’t believe they should be in any kind of business at all. They’re not good at making practical business decisions. They’re only good at injecting politics into business decisions and spending (wasting) taxpayer money on these businesses (bailouts). In the case of Chrysler, giving unions priority over bondholders and a majority stake in the new company is a perfect example. The union is now both management AND labor. Is that going to work? NO.
How does Ford now compete with Government Motors? Ford files its corporate taxes with the federal government and must comply with government rules and regulations. As such, the government will have a distinct advantage in knowing its competitors inner workings. The government can then dictate to Ford policies that will make Ford less competitive, and force them into bankruptcy protection (government involvement). It sets a dangerous precedence when the government becomes your competitor. Whole industries will soon be under direct government control.
How do we stop this government takeover of the private sector? We start by not participating. I bought my last GM vehicle last year—I’m now a FORD man.