Get Trucking: What’s Detroit’s Real Plan?
General Motors has offered a similar message [to Ford's], staking its green reputation on the Chevy Volt, as well as more fuel-efficient traditional cars. But if Detroit really has had its Damascus moment, why is the American public getting such a different message than Congress? asks Rod Adams at Atomic Insight. Football fans over the Thanksgiving weekend were inundated with commercials for big pickup trucks, just the kind of gas-guzzling product Detroit ... Full Story »
Posted by Beth Wellington
Reporters covering this story need to go deeper than the surface quotes from the different sides. For example, the automakers claim the taxpayer is protected since the gov. gets senior status -- stocks, warrants etc -- they can exercise. Also they claim the loan agreement would call for milestones to be made or the gov could "call the loan." Well, have you ever tried calling a loan to someone who is broke? Good luck with that. And that senior stock... what will that be worth if the gov exercises it and tries to selll it? Reporters need to be more skeptical. If we wanted stenographers Washington is full of them.