OT: Buying GM Stock, a steal at $2?

[Jaxonalden]

Originally Posted by Fred Demara

that's the point...the reason GM needs a bailout is because no one was purchasing the "widget". In capitalism, we vote on a companies success with our dollars. Overwhelmingly, Americans, and the world have voted GM out of the car making business. And in a capitalist system, when you file chapter 11, your pension is done. No rights, no wrong, no moral judgements - it's just the set of rules that define a fair market.

When the fed steps in and (against the majority of Americas wishes) MAKES us responsible for GM's success, when they have failed miserably, that is called communism.

The reason Americans aren't buying their "widget's"? Simple, GM has had their arms twisted by the UAW and have been paying their "ransom" for years. That money could have been reinvested back into the company for better R&D and materials to make a better product. Instead they have had to used cheap materials and old technology. Take the throttle body fuel injection for example, GM just stopped using that late 70's early 80's crap while the rest of the world has moved on and accelerated into direct injection. Also, has anyone pushed in on a fender lately? I swear a beer can is thicker!

Why don't I buy American cars? I'm NOT going to pad the pockets of UAW or the workers that really have the golden parachute pensions and benefit packages. As an American I have the freedom to make this choice, thank God.