Is GM Finished?

Glancing at the Wall Street Journal today, I couldn’t avoid seeing these projections about the new ownership composition of General Motors:

US Government – 50%
United Auto Workers – 39%
Everyone Else – 11%

Can you imagine a company majority-owned by Government bureaucrats and the UAW?   It almost sounds like an Orwell novel…  I’ll bet you’re just rushing to go out and purchase a new Pontiac…  err Saturn…  I mean Hummer.  Never mind.

I can’t see this being a positive move for GM or the auto industry.

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