Your tax dollars bailed their sorry ass out of oblivion. Your tax dollars helped them develop an over-hyped second-rate hybrid vehicle no one wants. If you expected gratitude from GM after all that, you just ain’t been paying attention.
Reuters reports:
General Motors is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its bankruptcy.
…[the plaintiff] contended that her Impala suffered from faulty rear spindle rods, causing her rear tires to wear out after just 6,000 miles.
…the lawsuit demands that GM fix the rods, saying that it had done so on Impala police vehicles.
…GM noted that the cars were made by its predecessor General Motors Corp, now called Motors Liquidation Co or “Old GM,” before its 2009 bankruptcy and federal bailout.
“New GM” said it did not assume responsibility under the reorganization to fix the Impala problem…. In essence, the automaker said, [the plaintiff] sued the wrong entity.
In bankruptcies, the “old” company’s failures usually aren’t the “new” company’s problem. But GM wasn’t a “usual” bankruptcy: bankrupt companies don’t usually get taxpayer-funded blank checks from the government. Bankrupt companies don’t usually vacate claims of senior bondholders in favor of their largest union thanks to a meddling politician. GM can afford to cast the usual excuses aside for Ms. Trusky as it did for its police customers.
We see it as one more reason to never again buy a Government Motors vehicle, no matter how many times they go bankrupt.
Oop. Here’s President Obama back in 2009 announcing that the government would stand behind GM and Chrysler warranties.
– Written by Bonfire of the Absurdities
Source: Reuters
