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November 18, 2008
Before bailing out the Big Three
William D. Zeranski
Let's get this straight. GM desperately needs a bailout by the American taxpayer. They say so, the Democrats say so, and so does the MSM.
General Motors, America's biggest cars group, warned last night that it could run out of cash early next year without a government bail-out, a merger or asset sales.
But interestingly enough, GM's global sales rose 19% in the last ten years. And in the third quarter of 2008, 61% of sales came from outside North America.
Reported today, GM is showing-off a Buick Enclave SUV, a Chevrolet Cruze sedan and a CTS-V to keep an edge it already has in the Chinese automobile market. It's this unveiling, which is considered necessary to provide GM with a strong comeback in the United States.
Maybe it's time -- way past time to stop, look and listen to what is really going on before shelling out more tax dollars. Ford also has large overseas operations, while almost 20% of Chrysler is owned by Daimler Benz. There is much more to these companies than just the American market.
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