I can't believe the news today. Now I know your about my age if that made you sing the U2 song Sunday bloody Sunday, one of my favorites of all time. Anyway, I read that the car company GM is now 50% owned by the Federal Government and 39% owned by the UAW or United Auto Workers Union. Now, I have had a lot of bad ideas in my day but this is the worst idea I have ever heard of!
We have a government that has no idea how to make a profit or do anything that takes customer service, think of the last time you went to the DMV or called the IRS with a question. Now partner that with the people who negotiated an $87 dollar an hour average rate for all blue collar workers and had no idea that this would make the cars to expensive and not competitive to foreign models. So, who cares, they will just be out of buisness right? Well there is the big problem, they have already taken billions from the taxpayers and my guess is they will continue to do so every time they need more. Once again can you say bad idea!
Now contrast this with Ford who took no money from the taxpayers. Founder Henry Ford I consider to be one of the great Capitalist in American history. The Ford Foundation is a charity set up and funded by the Ford family and was given enough money to go on in perpituity. Ford’s stock hit a low of $1.01 and closed today at $5.19.
Ford makes a great product, I sold my 1997 Ford Winstar this year, it had over 200,000 miles on it and never neded any major work and got a 2007 Ford F250 diesel truck. But talk about an uphill battle, not only do they have the usual foreign competition that doen’t have to pay near as much labor costs, but now they have to compete against a company with an endless supply of our tax dollars. I urge you to buy a Ford and support this great company for two reasons. First to show that Capitalism is still alive and works much better than Socialism and second, because the US needs a world class manufacturer to keep our great country healthy and strong.
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