After receiving $20 Billion in taxpayer money, General Motors filed for bankruptcy protection yesterday and the new plan is for the Government to add another $30 Billion of taxpayer money into the deal. Sadly, millions of families are hurting because of this failure. I feel the worst for those who work for the suppliers of GM (as well as Chrysler) who will inevitably fall into bankruptcy as well. Why the government feels it is such a great position to succeed when the management of the largest US automaker failed is anyone's guess. It is likely rooted in the political desire to prevent the inevitable. It's as if the Obama Administration believes it can prevent gravity from pulling down a financial albatross incapable of flying any longer. ...here's the operative quote: 'When underdogs choose not to play by Goliath's rules, they win.'
Jack Uldrich in "How the IP Can Win" Join the discussion