a share of GM common stock or a spark plug for a Chevrolet? My father would never believe it but GM closed at $1.81 today after the auditors questioned its ability to continue as a going concern. Heck, it's lost money for years now, it has a negative net worth and it's running out of cash. It doesn't look like salvation is around the corner. A spark plug is more expensive than a share of GM stock.
Ed Glaeser has an excellent article as to why we should stop pouring money into the Big Three. Trying to save an industry whose day has passed (at least in its current form) is not a good thing. Ask Japan, Ask Europe. We need innovation to effectively compete today and that is seldom found in behemoths. It's the little guy with the big idea we need today.
As I said last month. 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.
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