I’m no Bernanke, but I do understand what balance sheet means. And GM’s balance sheet as of June, 2008…. well… SUCKS:
This company’s balance sheet NEGATIVE $58 BILLION dollars. To me that company’s worthless…
This company that needs to die. Just like homeowners who are under water (i.e. owe more than what the house is worth) foreclose, this company needs to declare bankruptcy. Screw the pensions! Why tax us hard working people so we can fund the pension plans of others?
President Obama, let inefficient companies like this die and let natural markets take its course. Don’t bail them out! (Again!)
I get so riled up. Ok.. BREEEATHE….
Related posts:
Kinda blurry towards the bottom of the image.
Yeah, its a black hole and the unions are naive in thinking their stranglehold over this company would never catch up with them. But don’t forget the US government is left holding the bag on the pension liabilities due to our stupid pension insurance scheme. So you’re on the hook for a lot of that.