Ten years ago GM spun off its auto parts division into Delphi Corp. If you think things haven't gone well for GM, Delphi has fared far worse; they have been operating under bankruptcy protection for over three years, despite having been subsidized by GM for almost its entire life. Now, GM wants to bring Delphi back into the fold. Why? So that Delphi can, as part of GM, get some of the taxpayers' money. Our leaders have already committed $13.4 billion to the GM dinosaur, but it's still hungry for more taxpayer money.
Millennia ago, the dinosaurs may have been thought too big to fail, but they did and the world moved on. It was a different world, but it absorbed the loss. Some species throve because there were no more dinosaurs.
1 comment:
You're last paragraph was an astute observation, even though many GM employees mightn't agree. Unfortunately, blue collar workers are inevitably the victims of their white collar bosses' ineptitude. Inept management, at all levels, is the biggest threat to the American economy today.
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