Further proof that our government bailing out GM worked beyond expectations was seen in April's sales figures. In fact, all three automakers in Detroit showed faster growth than Toyota and other Japanese brands. High gas prices helped GM which sold more of its hybrid vehicles.
In April, GM sold 18 percent more vehicles than Ford. GM's market share through four months this year is 19.6 percent, up from 18.7 percent last year while Ford's market share has fallen to 16.2 percent from 16.7 percent. Toyota's share is 14.1 percent, from 15.4 percent a year ago.
In addition to all of this good news for GM, the company has begun to hire back thousands of employees that it laid off with plans for expansion on the horizon. Check out this video.
Listen to the stories of the people in this piece. Not only does this demonstrate the remarkable comeback of GM but it shows why we did it in the first place. People's lives would've been ruined in an industry with so many interlocking mechanisms, not to mention that GM (from a PR standpoint) is the United States, that ordinary bankruptcy would've been colossally devastating. Considering that GM's GNI/Revenues rank higher than several countries in the world, bailing them out was a very smart thing to do.
And we see every day that it was an epic success.
7 comments:
The earthquake and nuclear disaster might have had a little to do with a down month for Japanese automakers...
Shut your filthy hole anonymous!
>People's lives would've been ruined in an industry with so many interlocking mechanisms,
Let me guess - you still don't have a way to measure that interconnectedness, do you? (At least, not one you're willing to share with the rest of us benighted plebes.)
>that ordinary bankruptcy would've been colossally devastating
Any evidence for this beyond your fond wishes? As you have been reminded of many times, backruptcy does not = destruction.
I do think you have a business opportunity here Mark. I think many corporations would love to know how to ensure that they can rely on taxpayers to bail them out of bad business decisions. You seem to believe it's something other than political pull; if so, you could easily sell that knowledge. What do you say?
Funny how the only jobs Obama is interested in saving seems to be government jobs and union jobs.
Perhaps even "Dizzy with Success"? Then again, there's all those pesky details that mar the Hollywood "happy ending".
Well, anonymous, he seems to be doing a pretty crappy job of it with the high number of private sector jobs being added since he started and a high number of public sector jobs being lost so I don't really understand what you are talking about.
on Jobs success:
http://bit.ly/j7obCX
On GM success:
http://bit.ly/lwJZEe
Seems you don't know what you are talking about, M - as usual.
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