Governments around the world are being sucked into GM's financial situation. As GM wolfes down government (your) money, government leaders are learning how hard it is to be investors. "As we await the likely General Motors bankruptcy," says Edward Harrison of the site Credit Writedowns. "I think it bears discussing how political this process has been and will continue to be."
"General Motors is a monster company employing a quarter million people worldwide. It sells $150 billion in cars – or at least it used to. It is not just a producer of vehicles. It is also a supplier. It has been through several joint ventures and has owned a number of foreign manufacturers, Isuzu and Opel being but two. In short, the company is a very big player, financially, economically and politically. Yet, somehow you get the impression that many in the financial media think we could just turn the lights out and go home. This is just not the best option." Watch Edward explain this further:
Showing posts with label GM Bankruptcy government private equity. Show all posts
Showing posts with label GM Bankruptcy government private equity. Show all posts
May 29, 2009
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