What has government done for GM?

The federal government owns a 26 percent stake in General Motors and would take a huge loss if it were sold today: http://www.ask.com/wiki/General_Motors

In addition to the GM bond holders and dealers who got the shaft in the reorganization of GM, the salaried employees at GM's Delphi unit lost their pensions thanks to Treasury Secretary Tim Geithner, but the UAW employees didn't have to sacrifice a penny. http://www.tribune-chronicle.com/page/content.detail/id/575082/Delphi-retirees-claim-unfair-influence. html? nav=5003

GE's Jeffery Immelt made a deal with the Obama administration to buy 12,000 of GM's planned Volt and other electric vehicles production. This is the same GE that paid no federal income taxes.

Cash for Clunkers and the Japanese tsunami goosed domestic auto sales for a while, but now those effects have subsided and the government increased its purchases of GM cars, trucks and SUV's by 79 percent in June - just in time to boost GM's bottom line earnings for the quarter.

Now President Obama says he wants to do for other industries what he's done for GM.

Fred Hubler

Cedar Rapids