Remember that (GM's) old corporate leadership said it would never need government money, then flew into Washington to beg for government money on a private jet, then got sent home to ponder their own stupidity, then drove from Michigan to Washington in the equivalent of the Joad family pick-up, then telling its bond-holders that it was too bad they were going to get approximately nothing for their paper, then selling a 60 percent stake to the U.S. government … after all that, and with a new leadership team, they still lost $4.3 billion. ...And that's the good news.
-Rich Galen
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