| Yesterday General Motors fired the CEO, Rick | | | | Later" plan. The government oversight committee |
| Wagoner. He is being replaced with longtime GM | | | | should have stopped the press conference in mid |
| exec Fritz Henderson. Yesterday President Barack | | | | stream today. If the US government was |
| Obama promised the American consumer that | | | | complacent in the deal, they are knowingly |
| the US government (you) would provide the | | | | committing taxpayer funds in later years to fund |
| warranty for all GM cars. He also said that GM | | | | sales now. Congress should step in and stop the |
| would be reorganized (chapter 11 bankruptcy) in | | | | madness. Where are taxpayer groups? |
| 60 days. What was the new chairman's first order | | | | Is it arrogant to pledge things you do not have? |
| of business? He committed fund from your | | | | If your are being forced into bankruptcy because |
| checking account for the next five years. The | | | | you operated on credit all of your career, how |
| details he promised you would pay: | | | | prudent is it to pledge the good will of the |
| * 5 Year / 100,000 mile warranty | | | | American people? |
| * Payment protection for unemployed buyers for | | | | Americans want cars of exceptional value that |
| up to nine $500 payments, or $4,500 | | | | are well made, sold at a fair price and retain their |
| * Equity protection on your vehicle. | | | | value. They will buy them all day in great numbers. |
| When President Obama said the American people | | | | The US has tried to help GM survive. What GM |
| would stand behind the warranties of GM, he | | | | did this morning was similar to a homeless person |
| clearly did not assume that the warranties would | | | | receiving a gift from a stranger he could never |
| be extended the NEXT DAY! This cost combined | | | | pay back, and leveraging it into a loan that the |
| with the unemployment payment adjustment | | | | donor will have to pay for the for the next 5 |
| could represent possibly $20,000 per vehicle. It is | | | | years. Incredible! |
| the ultimate "Buy Now / Let the Taxpayer Pay | | | | |