U.S. Expected to Own 70% of Restructured G.M.

U.S. Expected to Own 70% of Restructured G.M.

www.nytimes.com

DETROIT — In better times, many employees of General Motors called their company “Generous Motors” because of its rich benefits.

Now G.M. may stand for something else: Government Motors.

The latest plan for the troubled automaker, which is expected to file for bankruptcy by Monday, calls for the Treasury Department to receive about 70 percent of a restructured G.M.

(visit the link for the full news article)

The Obama power grab is dangerous.

This is fascism at it's worst. There's no way a President should be running private companies and controlling advertising budgets.

He's now talking about a Cyber Security Czar. Will they take over Google or Yahoo?

This is out of control but I'm afraid people will not see this until it's too late. It's obvious that Obama is playing out of the Saul Alinksy playbook and in a year you will not recognize this country.

www.nytimes.com
(visit the link for the full news article)

Yup, and this comes after they chose to force out several hundreds of there dealerships over the US.

(AOL Autos) Chrysler will close 789 dealers, leaving them with approximately 2400 stores in the U.S. General Motors announced the closing of 1,100 dealers and hopes to be at a size of 3,600 dealers at the end of 2010. Link

[edit on 26-5-2009 by Piranha]