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.

Consider Supporting Us?

The staff at Onenewsnow.com strives daily to bring you news from a biblical perspective. If you benefit from this platform and want others to know about it please consider a generous gift today.

MAKE A DONATION

Comments

We moderate all reader comments, usually within 24 hours of posting (longer on weekends). Please limit your comment to 300 words or less and ensure it addresses the article - NOT another reader's comments. Comments that contain a link (URL), an inordinate number of words in ALL CAPS, rude remarks directed at other readers, or profanity/vulgarity will not be approved. More details

SIGN UP FOR OUR DAILY NEWSBRIEF

SUBSCRIBE

VOTE IN OUR POLL

What's your feeling about the James Comey/Loretta Lynch/Hillary Clinton/email server scandal?

CAST YOUR VOTE

GET PUSH NOTIFICATIONS

SUBSCRIBE

LATEST AP HEADLINES

  NFL maintains status quo on anthem policy
Sessions defends Comey firing, ties it to Clinton email case
Trump accuses Democrat of fabricating fallen soldier story
Manhunt underway after 3 killed at Maryland office shooting
Swiss executive asks voters to reject paid paternity leave

LATEST FROM THE WEB

Gowdy: Comey needs to be in the hot seat again over Clinton
Obama WH knew about Russian bribery plot before uranium deal
Vets' lawsuit: 3 U.S. companies funded terror in Iraq
Mandalay Bay security guard resurfaces on 'Ellen DeGeneres Show'
Poll shows Roy Moore, Doug Jones neck-and-neck in Alabama Senate race

CARTOON OF THE DAY

Cartoon of the Day

REASON & COMPANY

NEXT STORY
A look at this year’s Social Security changes

An expert in retirement security is adding his two cents to thoughts on this year's changes with Social Security.