Tuesday, June 09, 2009
Government at Work - What a Deal
I think the only thing "big" about GM is it's number of union members...
At Townhall.com George Will doesn't think much of their bailout:
"Washington's 'rescue' of GM began because GM is 'too big to fail,' and bankruptcy is (well, was) 'unthinkable.' Big? GM's market capitalization, $375.8 million on Wednesday, is about the size of California Pizza Kitchen's ($340 million) -- is it too big to fail? -- and one-eleventh that of Harley-Davidson ($4.3 billion). Fail? If GM has not already failed, New Coke was a success.
The administration is determined to prop up GM as a jobs program for the UAW and Midwestern states rich in electoral votes. This frenzy will intensify as the administration's decisions deepen the debacle."
