Bailouts forever - WSJ "GM to offer two choices: bankruptcy or more aid": "General Motors Corp., nearing a federally imposed deadline to present a restructuring plan, will offer the government two costly alternatives: commit billions more in bailout money to fund the company's operations, or provide financial backing as part of a bankruptcy filing, said people familiar with GM's thinking."
Between bankruptcy and restructuring versus a government-controlled entity, I choose the former. Time to cut the corporate cord.
Related - Vital promotional spending from GM. As Fark notes: "GM's problems haven't stopped them from building a 17 foot tall replica of Bumblebee for the Chicago Auto Show." That's a character from the latest Transformers movie. You know, for kids.
2 comments:
It's not so ridiculous; Bumblebee is a Camaro when he's transformed (if I remember correctly)... Not a bad way to pull youth to the new (again) Chevy pony car. And not just kids watch the transformers; they were a little late for me (I'm 40) but people even 5 years younger are into them, and people like me go see the movie with their kids. It's actually pretty decent marketing. A block-buster tie-in can't hurt...
I'll take bankruptcy for free.
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