When do I get my Hummer?
I was an Economics major and I always thought that one of the main tenents of capitalism was that the failure of money losing companies was a good thing. My guess is that the Government won’t be able to sell cars any better than anyone in Detroit. What happens if the new GM does so well that it puts all the other free standing U.S. auto companies under? I guess we’ll buy those too, which would give us a monopoly, which would finally ensure some profits!
Despite 4 years at Northwestern, I still have no idea why airline companies can’t figure out a way to make money. Competition is supposed to ensure the minimum adequate profit, not no profits whatsoever.
USA Today had a column listing the top 7 reasons why GM is going to file for bankruptcy. Number 1 was that they didn’t file for bankruptcy earlier. What? Isn’t that like saying, I’ll likely die sometime in the future because I haven’t died yet? No wonder I’m the only one in America that buys newspapers anymore.