General Motors is just one among many of the biggest companies in America that is suffering from lack of sales and looking for bailouts or restructure.
Isn’t it ironic that GM closed so many of its factories here and laid off their workers as they outsourced much of their production, leaving the people here with no jobs and therefore no money to purchase the GM products? So did Ford, all the television manufacturers, electronics, etc.
This can be carried over into just about all products, e.g., heavy equipment being built overseas means layoffs in the U.S. — cutting tax revenue and causing cities and states to curtail road building and other infrastructure jobs — so no heavy equipment is being used.
Why is it that these overpaid CEOs and their advisers are so out of touch?
I don’t have a degree in finance or business, but even I can see where a lot of our problem lies.