We'll soon be joining the ranks of Greece and Iceland.
Celebrating the company’s Wednesday initial public offering, President Barack Obama last night called his government takeover of General Motors a “success story.” “American taxpayers are now positioned to recover more than my administration invested in GM,” he said. Left unsaid is the fact that ( Read more... )

This is what GM should have been doing all along and why the government should not be trying to run GM. That means you, Barney Frank! Didn't your meddling in the housing industry teach you anything?

This is good news for GM and great news for Saturn.

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Or is it spine? GM says it will sell Saturn.

Finally, some signs of intelligence at GM! Instead of just throwing assets into the trash GM is going to sell them. What a concept!

That is, unless The One sniffs his disapproval in GM's general direction. Then you'll see some furious backtracking and Saturn's fate will be the same as Pontiac's.

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Can you imagine the outcry if a group of industry executives got together and decided to "oust" President Obama because they felt that he wasn't running the country correctly? How about if they then demanded that the replacement shed various federal agencies as a requirement for obtaining their blessing ( Read more... )

Somewhere in the universe of free trade, protectionism, competition and antitrust lies the story of General Motors. The National Review ponders how GM came to this pointAntitrust, of course, is concerned about one domestic company dominating the domestic market. As Burton Folsom points out this leaves a company targeted by antitrust proponents ( Read more... )

GM CEO Rick Wagoner has decided to step down. This should be greeted as welcome news for everyone except GM's rivals. Rick Wagoner is part of the problem at GM; a generation of managers who can't see the forest for the trees.

However, the reason he stepped down is entirely wrong: the President of the United States "asked" him toIf it's one thing ( Read more... )

There are a lot of reasons why some US companies are in the state they are now regarding retirement benefits and health care costs.
DETROIT (AP) - General Motors Corp. will try to reduce its staggering employee and retiree health care liabilities in upcoming contract talks with the United Auto Workers, according to a government regulatory filing ( Read more... )