What it looks like when a government owned company talks to it’s shareholders the way it talks to voters.
Still Government Motors - Forbes.com
Shikha Dalmia, 04.23.10, 03:40 PM EDTGM is paying back Uncle Sam to shake him down for more money.
GM CEO Ed Whitacre announced in a Wall Street Journalcolumn Wednesday that his company has paid back its government bailout
loan "in full, with interest, years ahead of schedule." He is even running TV ads on all major networks to that effect--a needless expense given that a credulous media is only too happy to parrot his claims for free. Detroit Free Press' Mike Thompson, for example, advises bailout proponents to start "warming up their vocal chords" to jeer their opponents with chants of "I told you so."
But before belting out their victory aria, GM-boosters ought to hear the whole story--not just the fairytale version about Government Motors' grand comeback that Mr. Whitacre is feeding them.
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