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07 November, 2008

GM is running out of money... so... fucking... what?

General Motors is losing billions of dollars, and is claiming that they don't have enough cash. The government may be giving them billions to keep them afloat. This raises a lot of questions. Should the government be giving money to GM? It is true that GM is part of our financial crisis (via its GMAC financing component), but it is not just the financials that are losing money. GM is not selling cars! The fact that GM went from being an auto manufacturer, to being a company that could also loan you the money to buy your car, to being a company that can now loan you money to buy your house is another story altogether.

So I thought about this for a bit. And started to think, "Why should we bail out GM? FUCK GM! They've been making shitty cars for 25 years now, and have paid little heed to fuel efficiency. Let them go down as a result of their own poor management". But then, I realized, well the reason we probably want to bail them out is because of the fact that people will lose jobs if GM goes under. But then, I thought, "So fucking what? We're already losing 200,000 jobs a month! What's the difference if we lose another 40 or 50 thousand? It's just part of the pruning process of misapplied workforce".

So I Googled GM, to see how many people work there...

Any guesses?

As of 2008, the number was 266,000.

As of 2005, the number was 335,000. So they've already already dropped 20% of their workforce in the past 3 years (even though we weren't talking about how bad their situation was, during that time).

So, if GM goes under, that's a quarter of a million people without jobs. Is that still a "so fucking what" situation? I don't know. But why should this (non-socialist) government continue giving cash to private corporations, whose CEOs have been making big bucks. For instance, GM's CEO earned $2.2 million dollar salary this year. And apparently if Chrysler had bought GM, the CEO would stand to have made about $15 million in severance pay. How's that for a reward for running your company into the ground?

I am not opposed to socialism, as you probably know. But I would prefer that it start at the bottom and work its way up, rather than the other way around.

1 comment:

  1. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


    Susan

    http://www.car-insurance-choices.com

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