In addition to dealing with the bogus “payback” of government loans by Government/General Motors (also see Update below), the column notes:
- The seriousness of Chrysler’s situation (including negative working capital of over $6 billion).
- The Associated Press’s pathetic poll portrayed as a boost to “buy American” which really shows a “buy Ford and avoid GM” trend.
- How the government’s accelerated emissions standards rules seem to give GM and Chrysler unwarranted breaks.
The bottom line in the industry right now is that despite government and media assistance, GM and Chrysler can only pretend to be performing well, while Ford and Toyota really are.
The column will go up here at BizzyBlog on Sunday morning (link won’t won’t work until then) under the title “Contrasts in Carland” after the blackout expires.
UPDATE: Instapundit has linked to the PJM column and writes (internal link was in original):
When I talked with Mark Tapscott yesterday, he called those GM bailout-payback commercials the most dishonest claims he’s seen in 30 years of covering politics and the auto industry. “It is a lie.”
That it is. And shame on the Wall Street Journal for letting GM’s Ed Whitacre get away with his op-ed column’s horse manure headline: “The GM Bailout: Paid Back in Full.” No it’s not.