This may or may not be true. Lets, for the sake of the conversation, say they did pay that "loan" back to the gov. While GM is in the process of paying back the billions in tax payer dollars, the same federal government who doled out the loan was laying a 16 MILLION dollar fine against Toyota!
Reward the company that has failed miserably at business, and punish the one who has done pretty damn good.
It makes perfect sense to me! That's how all companies should be treated. I hate business that produce a consistent and reliable product. Punish them!!!
I totally agree that General Motors should not have received bailout money. They should have gone out of business just like any private business that can not pay their bills.
ReplyDeleteToyota is being punished because they tried to hide the gas pedal defect from the public by saying it was a problem of floor mat interference. I really do believe that Toyota should pay the 16 million in fines and have since changed my mind about them being a "consistent and reliable product".
Just my thoughts.
Charlie,
ReplyDeleteThanks for the comment, keep them coming!
Of course Toyota should be punished for their dubious actions regarding their various safety issues and defects, but I think they should be punished for real by the myriad of furious once loyal consumers. The sales of new Toyota's have plummeted as a result of their actions, and as a result they are going to make massive changes or fail. I doubt they would get a 50 bil. bailout.
Why does the Nanny State have to be in charge of punishing companies that suck and/or do sucky things?
You changing your mind about them being a "consistent and reliable product" should go to show you that word of mouth is a vicious punisher.