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Jul 10, 2009 - Hold The Cigars

Today is the day GM is going to emerge from bankruptcy and I expect there will be a lot of crowing from certain quarters about what a wonderful thing has been done to save an American company.

I wouldn't be handing out cigars just yet.

Given the government's reputation for efficiently running things and considering that the bailout money we threw at GM that was supposed to keep them out of bankruptcy seems to have been thrown down a hole and buried, any instant claim of success has to taken in with more than a grain of salt.

Edmunds Editor-in-Chief Karl Brauer sizes up the situation pretty well...

“It’s impressive that they got through bankruptcy that quickly. “But … when it takes you three or four decades to tear down a car company’s image, it takes more than 39 days to bring it back.”

The egg has been laid. It's hatching. Whether it turns out to be a turkey remains to be seen.

Read more at toledoblade.com

2:57 am | Categories: automotive news, gm Permalink | Alert Administrator

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