The big three automakers have been telling a rather convoluted sob story for the past few weeks, spending an unknown amount of money on a campaign to convince the people and policymakers of the U.S. that they desperately need money or they will collapse, bringing down the economy and creating a ripple effect destroying the livelihood of countless people. Now that the UAW and Republicans in Congress have successfully broken the deal, perhaps their money would have been better spent elsewhere.
At the same time, they’ve been trying to convince their shareholders that they will bounce back, with or without the federal bailout, and that they’re going to return to profitability and that they are a sound investment.
Note that GM CEO Rick Wagoner says he’s looking forward to reading all comments to this YouTube video. Comments, however, are disabled.
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