P.S.: Why is all this executive turmoil happening now? It’s very hard for an outsider to know exactly what is going on, but there are three theories. 1) GM CEO Akerson is panicking (Truth About Cars’ theory); 2) Akerson is kind of incompetent and hires people he then chases away or has to fire; 3) … I’m thinking of a third. … What’s the third? I know there’s a third. …
Well, how about: It’s really, really hard to keep a lie going?
Obama played fast and loose with the law to steal GM, stab the secured creditors and gift the proceeds of the theft to the UAW. But the real, structural problems, the unsustainable financial situation and the horrible decision-making were not addressed.
Those types of things have a way of coming back to bite you at inopportune moments.
Government Motors – the next Solyndra!