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RE: Auto sales are slowing, and upheaval is next - CNN

There are a few grains of truth in that largely hogwash article. For example:

Ford IS cutting jobs. That was on the business news wires.

GM and Chrysler DID take taxpayer money to stay afloat as GM and Chrysler. But, now, tell me again who owns Chrysler? ;)

GM's stock was at about $30 about 4 years ago. It's now at - drum roll please: about $33. Have they completely paid off the debt to the U.S. taxpayers? (I haven't read their annual reports.) They should've been bought by another automaker years ago. Maybe they still will be - you read it here first.

I knew at the time that the bailout was a bad idea. It never was about saving the companies or the jobs, it was about saving the executive officers and the bondholders. Shareholders got the shaft, as usual. It would have been much better to let them flounder and be sold to another automaker, as Chrysler already has! (Actually, it's a little hilarious that a company in Italy, which is an economic basket case, bought a major U.S. automaker!)

This is the kind of warped, twisted "business" we end up with when government bureaucrats get involved. All they care about is their re-election so they can continue to funnel projects (money) to their supporters.

:)

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