GM is Now in Chapter 11 Bankrupts

President Obama yesterday was forced to invest taxpayer money into yet another one of our major industries to keep our economy from dropping even further then it already has to this point. Still New Mexicans will loss jobs because of this bankrupts proceedings. The American people now have a 60% share in this automaker. President Obama says that he has no interest in running an auto company.

Shareholders for the most part do not run a company but they elect the board members that then will hire the president that does run the company. It would not be unwise for the federal government to take care to see that those board members are interested in making sure that GM is run in such a way as to product the best profit for the future and for the shareholders. The people who now run GM must understand that this is not business as usual. The America people will be demanding results from their investment as would any smart shareholder in a company.

Business executives far too often only look at the short range health of a company and sometimes make poor decisions based on that short sighted view. The American people will expect a leader that is more interest on the long term health of GM. We want a company that can stand on its own without the support of the federal government to emerge out of this chapter 11 bankrupts. We want a company that will be able to provide future jobs for America’s autoworkers. GM should understand that the American people are watching.