Great news for Chevrolet and the global automotive industry: Chevy has sold nearly 1.3 million vehicles worldwide in the second quarter of 2012, up 2.3% from last year!
If you invested more than $100 in a company, would you be happy if your shares were worth only $36? By anyone’s definition that investment would have been a terrible failure.
Yet, that is how the federal government’s investment in General Motors looks. The federal government has put in well over $100 billion into shoring up General Motors, but the entire company, not just what the government owns, was worth only $36 billion on Tuesday
Now this is almost a couple months old, but I doubt there is much change.
The Economist was reporting that the auto market in Europe is so poor that both GM and Ford are debating shutting down operations there. GM needs to work on the Chinese and Indian market.
Thomas Sowell: There are no solutions, just trade-offs.
