2 thoughts on “Day Care at the Autos

  1. In 1995 the CEO of General Motors announced “we are a finance company, not an auto company” or something to that effect. That accelerated the downtrend of the US automobile industry more than anything else, since the other two had to follow suit. GMAC got involved in home mortgages too. I’ve seen their TV ads.

    What does all this mean?

    The concentration on making a quick buck, the annualized rate of return on a leased car is 42% give or take, the entire industry, made logical decisions impossible.

    By the way, if the government bails them out isn’t that socialism? Like Germany propping up Krupp, or Russia Mikoyan/Guryevich?

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