Re: Not my point - Saab General Bulletin Board - Saabnet.com
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Re: Not my point
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Posted by Noel [Email] (more from Noel) on Fri, 20 Jan 2012 10:36:29 Share Post by Email
In Reply to: Not my point, No Snaab, Fri, 20 Jan 2012 09:31:37
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A number of folks here have this animosity about GM because of the Saab part of the GM story. OK, we all agree GM screwed the pooch on that and it sucks. But don't take it personally. Saab or Saturn, Corvette or Caddy, they are all just iron to car executives.

But bigger picture and long view... would it really have been better to completely shut down GM? What would the impact of that be on the national economy? All GM employees out of work. All dealerships closed or open for service only. Thousands of people at parts suppliers out of work.

I don't like GM because most of their cars are boring and because they have an inept management and culture, but it terms of the economy the bailout made sense. I don't know if GM will pay back more of what they owe or not, but in terms of the greater good the bailout was probably the right thing to do. The longer term cost of providing unemployment and social services to tens of thousands of ex-GM people would seem much greater than the cost of the bailout.

FWIW, I don't feel the same way about Chrysler as it was a privately held company. But still, the unemployment effects would have been horrific. Now Fiat is benefiting, which I don't think is right. But life goes on.

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