An American auto bailout – for France?

General Motors (still 25% taxpayer owned) last week bought a 7 percent stake in PSA Peugeot Citroenmore for more than $400 million. “…auto industry analysts find the deal mystifying.” Perhaps the crony capitalists at GM just need a new supply of cronies.

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

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  • LeCar was made by Renault.

    Ville du Quebec was one of the places we went on our honeymoon. It looked like half of the cars in that city were LeCars.

  • This reminds me of the old business school joke where the manufacturer admits he's selling each unit for less than it costs to make, but insists he can make it up in volume. When a bankrupt company buys shares in a bankrupt company, that's fodder for a new business school joke.