NGMCO, Inc, replaces General Motors Corporation, but who minds the store?

NGMCO, Inc, replaces General Motors Corporation, but who minds the store?

 
July 6, 8:09 AM · John Matras – Auto Review Examiner

GM logoNow that the federal bankruptcy judge approved the sale of substantially all of General Motors Corporation’s assets to NGMCO, Inc, the future of that carmaker depends on the (almost) three-quarters government ownership plus the UAW Retiree Medical Benefits Trust that owns 17.5 percent of NGMCO. And that future depends on whether the ownership allows NGMCO to operate as a profit-seeking organization or one with a primary goals of job creation and production of environmentally correct products.

The irony is that if jobs and green cars are in the forefront, the company will not create a profit and would continue to exist only as a ward of the state requiring continued financial life support. GM jobs would be workfare, and cars produced based not on demand but government ukase would clog the lots of the surviving GM dealers..
 
On the other hand, a company unfettered by political control and allowed to make product and personnel choices with a goal of making income for its owners is more likely to be around to provide productive jobs and make cars, including green ones, without being a drag on the U.S. economy and the bane of the American taxpayer.
 
Share
Seniority Lists
Recent Posts!
Bargaining Committee

Chairman
Mike Herron
President
Tim Stannard
Zone at Large – 1st
Danny Taylor
Zone at Large – 2nd
Mark Wilkerson
Committeepersons
Joe McClure
Chad Poynor
Steve Roberts
Derek Lewis
Bill Cundiff
Kirk Zebbs
Don Numinen
Jay Minella
Danny Bragg
Chris Hill
Rashad Thomas
Keith Oswald
Chris Brown

1853 Officers

President
Tim Stannard
Chairman
Mike Herron
Vice President
Darrell DeJean
Financial Secretary
Mark Wunderlin
Recording Secretary
Peggy Mullins
Trustee (3)
Jay Lowe
Dave Clements
Dave Spare
Sgt. at Arms
David C Spare
Guide
Ashley Holloway
E-Board at Large (2)
David Ryder
Steve Roberts
GM Unit Chair
Mike Herron
Voith Unit Chair
Larry Poole
Ryder Unit Chair
Patrick Linck
AFV Unit Chair
Neil Osborne
Retiree Chair
Mike Martinez

Get Text Alerts



asdasdsd

*Standard text messaging rates may apply from your carrier