No matter what the President wishes about maintaining “hands off” management, that isn’t going to happen once the corporate constituents realize they can use all of their lobbying tools to influence corporate decisions. I hope I’m wrong about all of that.
I still hope I am wrong. But I think this is going to look more like the military attempting to close bases (and being blocked by Congress) than it is a desperate auto company trying to to regain its footing.
Once government comes into the picture, government control, and then government politics follow. This can’t be good for GM, the USA, or the auto industry in general. As long as the .gov owns controlling interest in a hobby auto company, this is only going to get worse.
Now – is the UAW going to figure out that what remains of their pension and retiree medical funds (which are largely in GM stock) are being put at risk by the government majority owners forcing an unsustainable cost structure onto the company?
It will be interesting to watch.