Monday, June 1

What Could Possibly Go Wrong?

"You just better have a damn good conductor." -- Sebastian Cobb

From the indispensible Hot Air. Original article from the NYTimes:
31 year old grad student now in charge of GM (Government Motors)

The money quote:
"...I’m not terribly sanguine about the prospects of GM prospering under the guidance of someone who hasn’t ever met a payroll or sold a car."

Oh yeah, this will work.


  1. We need to run Businesses more like a Government!

    Hey, wait a minute,... that doesn't sound right.

  2. I couldn't figure out how to make a profile, so I am "anonymous".
    Phil saw an economic professor on the finanical news that assessed the profitablity of the "new" GM. Based on rosey (and unrealistic) predictions, they should become worth $27 billion, which is a long way from the $50 billion the tax payers have "invested". (Not counting the Wall Street Journal note that it is actually $65B because of the money given to GMAC.) In order for GM to ever earn back the $50B, they would have to be as profitable as Toyota on every car, every year. Uh, huh.

    On a semi-related note: Geitner went to China and told the audience that the US was going to keep the dollar strong and stable and the group BROKE OUT LAUGHING. That does not bode well for the future of the dollar.

    The big question is Ford. If the government is now deciding which cars to produce and which ones we will have to buy (or be taxed to death on), what about Ford who did not take Bail-out money? Who will get the big government car fleet contracts? It is a relief to know that we can count on our President to steer us down the road of recovery. If he gets into anything too complicated, he can always ask the smartest woman in the world--Hillary. Wait, where is she these days? Nicaragua?