A Very Sad Day; Good Bye Chevrolet

GM Files for Bankruptcy:

In bankruptcy, the auto maker will split apart into two companies: a leaner new GM and a so-called old GM, which will include the pieces that will be wound down. GM intends to accomplish the split through a Section 363 sale, which would transfer the new GM assets to an entity owned by the U.S. and Canadian governments, the United Auto Workers union and the company's unsecured creditors. GM's restructuring has been carefully planned by the company itself and the Treasury Department, but it faces some uncertainty now that its fate is in the hands of a bankruptcy judge. The judge chosen to handle the case will have a major impact on the outcome of the case, especially if dissident bondholders mount a legal challenge to the restructuring. GM hopes to counter its image as a maker of gas guzzlers with the 2010 introduction of the electric-powered Chevrolet Volt. Full article here: http://online.wsj.com/article/SB124385428627671889.html

The American Car industry is dead. Soon there will be nothing left to drive but these tiny scrap metal death traps. For God's Sake if I want to buy a gas guzzler I should be able to. As a matter of fact I have to have a gas guzzler for my work. Fascism is alive and well in America, wake up people.

Some may ask "why do you have a picture of the Mercury Dime up on this post." Notice the back of the dime. This dime was first minted in 1916 (who was President then?) and on the back we find the fasces. This is an ancient Roman symbol that was used by Benito Mussolini and gave us the word "Fascism." Could never happen in America? Well guess what it has been happening for a hundred years.