So…General Motors declares bankruptcy (!), and the stock market heads for heaven. The Dow reached 8760 and ended at 8721, better than it’s done in quite a while.
Dang! Let’s have every corporation in the land declare bankruptcy and see if we can’t push the Dow back to 14,000.
Well, of course, this is far from the first time. Many times in the past, the Dow has shot up on news of some megacorp’s massive layoffs. But General Motors? Geez…it’s like it IS America.
Of course, I haven’t bought an American car since the last piece of junk that took up near-permanent residence at the repair shop. As a matter of fact, I believe that was a GM product: an Olds. Before that, there was the amazingly lemony 1967 Ford Fairlane—luckily, we lived within driving distance of the Ford dealership, so I could stroll to the shop, pony up another chunk of cash, go to the grocery store, have the car towed directly back to the shop, and carry the groceries home in my arms.
Dunno about you, but though I feel just terrible about all the Americans who are losing their jobs and all the American entrepreneurs who are losing a major customer, I can’t work up a lot of pity for GM itself. This is, after all, the outfit that brought us vehicles shown to be unsafe at any speed. Does anyone recall the rolling bomb called the Corvair? These are the people who told us Americans were not interested in safety, did not want seat belts, did not want better gas mileage, and were such fools for style that it didn’t MATTER that a new vehicle could be expected to start falling apart after three years, because no American worth his salt would keep a car longer than that.
I personally got real tired of being insulted by GM’s leadership and put at risk by the company’s shoddy products. The first time I bought a Toyota—almost 40 years ago—marked the last time I wanted an American car.
Yep, I sure as hell did regret not being able to buy American. But never once have I ever regretted owning a Japanese car. I can’t say that for the Fords and Chevvies I’ve owned.
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