GM has been Government Motors since 2009. From Eric Peters at ericpetersautos.com:
Two big announcements this week and one of them has nothing to do with the pending indictment and frog-marching of the Orange Man.
Here’s the other:
GM has just officially announced the end of the line for Camaro – again.
This has of, course, happened before. Most recently in 2002, after which there was no Camaro for the next eight years – until a reboot in 2010. And prior to that, in 1975, when there was almost no Camaro because there was no Z28 for the next two years, until 1977 – when the Z28 returned.
But this time, the end is likely to be forever.
At least insofar as what the Camaro is – and has been. The name will apparently be rebooted and affixed to – God help us – an electric crossover SUV, a la the Ford Mach e “Mustang.” But unlike Ford, which just launched an all-new Mustang that is defiantly not battery powered, GM intends to launch nothing except battery-powered appliances going forward.
This is what comes of getting “bailed out” by the government. It means getting bought out by the government.
It means getting owned.
That’s what GM has been since the bankruptcy-bailouts of 2009. Yes, the loans were paid back. But there was interest, so to speak. It came in the form of changing the company’s priorities as well as its management. In a free-market schema these would be salutary palliatives, much like someone obese confronted by the early symptoms of diabetes taking the decision to stop eating too much of the wrong foods.