GM Finally Dead, To Be Converted to Zombie by Voodoo Master Obama

General Motors finally died yesterday after a very long illness. I am sad to see it go although I have not bought a GM car since the 70's because of the decline in workmanship from their crack union workforce. I still like GM trucks which I have always found to be steady dependable workhorses, but I always wondered how long that could last. As Mark Steyn observed back in December, GM's condition was terminal:

General Motors now has a market valuation about a third of Bed, Bath And Beyond, and no one says your Swash 700 Elongated Biscuit Toilet Seat Bidet is too big to fail. GM has a market capitalization of just over two billion dollars. For purposes of comparison, Toyota’s market cap is one hundred billion and change (the change being bigger than the whole of GM). General Motors, like the other two geezers of the Old Three, is a vast retirement home with a small loss-making auto subsidiary. The UAW is the AARP in an Edsel: It has three times as many retirees and widows as “workers” (I use the term loosely). GM has 96,000 employees but provides health benefits to a million people.

How do you make that math add up? Not by selling cars: Honda and Nissan make a pre-tax operating profit per vehicle of around 1600 bucks; Ford, Chrysler and GM make a loss of between $500 and $1,500. That’s to say, they lose money on every vehicle they sell. Like Henry Ford said, you can get it in any color as long as it’s red.

Anyhow, GM now will get reanimated as a socialist zombie as Barack Obama brings it back to a sort of shambling life and that may even last for a few years as did the British automobile industry after it was nationalized. Since the only way to kill a zombie is by destroying its brain we can expect GM to finally get its eternal rest when the first political appointees get put in charge and start looting the company like Obama advisor Franklin Raines did at Fannie Mae.