Posted by VernMI on November 20, 2010 at 04:39:23 from (209.86.226.24):
In Reply to: O/T GM stock posted by 37 Chief on November 19, 2010 at 17:33:59:
Not worth a penny but they did give the UAW 20% of the New GM. The UAW got a big share of the New GM but the former stock holders, bond holders, and small business creditors got nothing. It only makes sense from a political standpoint. The taxpaying general public got screwed.
I know the argument that they employ a lot of people so we can not let them fail. If that's the answer then let's convert over to communism and then there won't be any failed companies like GM. Every company would fall under the same umbrella and would not have to worry about fiscal responsibility. Big government is the answer it seems.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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