The Oil Drum | Credit investors ponder GM-sized hole in universe

89 comments on Credit investors ponder GM-sized hole in universe

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GJ on March 29, 2006 - 10:06am

The comment, from the CEO of GM in the 1950's was: "What's good for GM is good for America". The remark was in relation to some discussion among senators that GM should be broken up, ie. it was getting too big and powerful in the US car industry. How times have changed.

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PaulusP on March 29, 2006 - 10:34am

Thanks for clearing that one.

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Don Sailorman on March 29, 2006 - 10:45am

My recollection of what "Engine Charlie" Wilson said is:

"What's good for America is good for General Motors, and vice versa."

Then his remarks were twisted for politcal purposes to suggest that what he said was:
"What is good for GM is good for America!"

But he never said that.

Does anyone have access to a transcript of the exact words?

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The Interloafer on March 29, 2006 - 1:26pm

Whatever the wording, it's not even true. What's good for G.M. is lax CAFE standards, tax loopholes that encourage SUV ownership and high-ridership streetcars replaced with GM buses. What's good for America is the opposite of all that.

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89 comments on Credit investors ponder GM-sized hole in universe

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