Monday, February 27, 2012

Auto Bailouts - #3687 - Taxpayers Will be Paying for the Auto ''Bailouts' for Decades to Come - Wall Street Journal (2) VIDEO: See the Chevy Volt Parody Ad that GM Probably Doesn't Like - The Blaze

Politicians everywhere are forming encounter groups to commemorate the great Detroit rescue of 2008-2009, and given the selection of recent economic policies to feel good about, maybe the auto bailout is the best they can do. Still, amid Michigan's GOP primary and President Obama's re-election victory lap, this $81.8 billion-odd adventure in industrial policy could stand more scrutiny.  The bailouts worked, the story goes, because General Motors and Chrysler still exist and their stocks are trading above $0. Yet existence is a lousy measure of success, given that the car makers were able to shed billions of dollars of debt and labor obligations in their government-managed and -financed bankruptcies.  And while GM, Chrysler and Ford may be out of financial danger, for now, their political liabilities continue to multiply. The Bush-Obama bailout isn't over because its terms increase the chances that one or more of the Big Three end up in trouble again. To adapt Clint Eastwood, it's halftime in Detroit.  Read more.........


See the Chevy Volt Parody Ad that GM Probably Doesn't Like - The Blaze - This video has been viewed 239,825 times.  He's spent $38 in gas - in two months! See how, and see what Bob thinks of his new Volt, his fire insurance, and what it's like to stay home most of the time! Yesterday we posted a story about a memo allegedly sent by GE Healthcare America to its employees. The memo was a corporate mandate explaining that company cars will be replaced by the Chevy Volt, and anyone who chooses to drive a gas-only car on company business will not be reimbursed for travel expenses. Today we offer a follow-up. A parody ad for the Volt titled, “Do You Smell Something?” It’s filled with plenty of cheeky comments that especially poke fun at the Volts problem with catching on fire: The video has been on YouTube for just over two weeks and comes from bailoutcost.com, a group that is promoting awareness of the real cost of the GM bailout.

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