June 01, 2009

Another step towards complete government control.

Well itís official. Iím never buying a GM product again. General Motors Files for Bankruptcy Protection.

The plan is for the federal government to take a 60 percent ownership stake in the new GM. The Canadian government would take 12.5 percent, with the United Auto Workers getting a 17.5 percent share and unsecured bondholders receiving 10 percent. Existing GM shareholders are expected to be wiped out.

Chrysler did this back in April, and when they did I was annoyed that the government feels the need to own and operate businesses. I vowed at that time to never own a Chrysler product again, but that wasnít a big deal because I vowed that when I was in college and Iíve never seriously looked at buying anything ever made by Chrysler.

Iíve owned Fords and GM products, and other than Ford cars, Iíve been happy with them. Iíll never own another Ford car after the catastrophes that were the two previous ones I owned. Now I know some of my readers will throw magazine reviews and statistics compiled by ďindependentĒ sources, but honestly my experiences with the Ford car division and others that I know that own them pretty trump what ever I read in a magazine from a person I donít know. Ford trucks Iíll swear by, theyíre a good sturdy truck.

With GM now out of the running, when it comes time to get replace either my truck or Ktrevaís van, I know it wonít be with a vehicle made by GM or Chrysler. Iím not buying a vehicle from a government owned company. Oh, and now that they are partially owned by the Canadian Government as well, Iím definitely not buying from a foreign government.

Fortunately it will be years before I have to buy a new vehicle.

Posted by Contagion in Things that make me go, "GUH?!?!" at June 1, 2009 08:28 AM | TrackBack

No more Government Motors for me, either. And our family has been GM for years...

Posted by: T1G at June 1, 2009 04:31 PM

I may be out of it but what is the Canadian government doing helping with a US company? I see no good that will come of this!

Posted by: Bruce at June 2, 2009 10:10 AM

I'm 100 percent with you-I have owned many GM vehicles but never another new one with this crap going on. Chrysler also.

Posted by: Matt B at June 3, 2009 12:56 AM

I'm with you on the ford trucks. I can say this: I have rented many a Mercury Mistake and Ford Taurus (The new one, not the old one) and I can say I likke both those cars very much. As to their long term quality I cannot comment. The new Taurus (the old 500) is a CHECKER CAB on the inside. I can easily ride comfortably in the back seat for long distances. More back seat room than the Explorer, by far.

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