GM stiffs US
They are the job creators. The very economic engine that employs most Americans. I'm not describing the major corporations that devalue their people, I'm talking about small business heroes. Remember when General Motors was the 'Cadillac' of the stock market? What's good for GM was always what's good for America. Not so anymore, since GM is out of bankruptcy and now back in the private sector. Recently GM's CEO stated that he didn't feel the company was obligated to pay back the over 10 billion dollars in losses to the tax payers that saved the auto giant. The CEO said the employment taxes from workers covered the money losing bailout. Boy wouldn't it be nice if we all could play with other people's money like GM.
What a different world big business is from small business. Most bigwig business leaders negotiate golden parachutes, time off, and expense accounts. The small business person is a hustler. They create will others dream. Most small business leaders never take days off, they can't afford to. Government, the same that helped GM, is not a friend to small businesses. Taxes and regulations drain small companies of time and resources.
You can always tell a successful or soon to be successful small business. The owner is always available and understands the customers needs. When's the last time you went to a big box store and got great service? Could you imagine how efficient a global company would be if they had the accountability of a small business owner? We would not be losing market share to the Chinese.
Perhaps GM would be better off getting smaller instead of using our free money to make cars again. By bailing GM out and GM not feeling inclined to pay back our loses, we have set up a dangerous double standard. It's not government's job to save poorly managed businesses no matter how big they are. Government should let the market determine the winners and losers. It's the rules that every corporation
, big or small, plays by everyday.