I am a GM employee, and I am personally glad the government stepped in to assist us. If they hadn’t, I and thousands of others would likely have been out of a job very soon. There are a lot of good, hard working GM employees that would have suffered if that happened. In addition, the ripple effect of all those people being out of work would only serve to further cripple an economy that is already on the verge of collapse.
I guess I don’t understand the animosity toward GM just because the government has taken a temporary stake in the company. The government wanted something for its investment, and I don’t blame them for that. If the government had plans of keeping its ownership indefinitely, and controlling the business, I would have a problem with that too. However, the plan is for GM to buy out the government’s interest as quickly as possible. There is already a timetable being put in place for divestment. While they hold a stake in the company, their only input will be to provide oversight on major expenditures. So far, they have not objected to any of the plans GM had previously announced for new models, R&D, and new technology. Hopefully that will continue.
Now, I don’t like the fact that the government has a majority stake in the company either, but if that is what it took to help GM survive during this economic crisis, I’m all for it. For those that want to boycott GM just because the government has a temporary stake in it, I guess that their prerogative. However, please let me know who you work for, or what your business is, so I can be sure to return the favor if I get the chance.