GM's work 'totally irrelevant'

Sunday, January 13, 2013
 | 
Chris Woodward (OneNewsNow.com)

Two critics of the auto bailout agree with the predictions that General Motors will not be improving its U.S. market share this year.

Motley, SetonBloomberg's survey of five analysts found that GM may end this year with 17.9 percent U.S. market share. Seton Motley, president of Less Government, points out that is in line with 2012 and the lowest market share for GM since before the Great Depression.

"Well, it just shows what we've been saying all along, which is when General Motors became 'Government Motors' it stopped being a for-profit car company and started evolving into a left-wing ideological entity," Motley submits.

"No company on the planet -- car company or otherwise -- in 2010 had more green energy patents than GM, which has little to nothing to do with making and manufacturing cars that people actually want to purchase."

He explains that the automotive industry is long-term, so what a company does in one year impacts business for the next few years.

Celia

Dan Celia, analyst and host of American Family Radio's Financial Issues, finds the news troubling. He adds, however, that it may not even matter.

"You have execs at General Motors making tons of money. You have ownership of GM, partially by the unions, and you have a situation where everything they do is totally irrelevant," Celia contends.

"Their bottom line is irrelevant. Their market share is irrelevant, because we already created the moral hazard with GM, with the banks. They are free, once again, to make poor management decisions in the way that they operate."

GM's 17.9 percent market share still remains as the biggest market share, followed by Ford, Toyota and Chrysler, respectively. Still, GM held 31 percent of the market in 1997.

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