Week 13 - Right to Manage

Week of April 23rd, 2009

Although we had a test this week, an article about the government being a majority shareholder of GM, and most likely banking institutions in an effort to nationalize them...concerns me greatly. As a democratic society, we have the right to life, liberty and the pursuit of happiness. For some people, this happiness is found only in running, owning, or managing a business. Granted, the government did loan GM and the banking institutions quite some money, it does not mean that they have the right to request that debt be exchanged for equity shares, and ultimately make them the majority shareholders in control of the board. This is only the beginning, and as time progesses under our current leadership (who I think has far too much power politically and socially for his own good) I think we will see more and more governmental influence and destruction of our inalienable rights.

One thing that I think GM and our entire country needs to consider is if giving up our rights is worth staying in business. I drive a Pontiac, and I'm sad to see the brand go. But it will not be the end of the world. There are other cars out there. In fact, too many cars out there. There is an economic justification for the demise of GM. They did not do good business...they did not manage their assets and growth in an effective manner. Yes, it will be devastating for society for GM to shut their doors. The unemployment rate will surely surge. However, it is not helping society today or in the future to continue to support a failing business. I don't see other businesses getting this kind of help! Seriously, what makes the government think that they can manage GM better? They can hardley manage their own business and budgets! Does this mean that they will essentially buy out the other American automakers, stop allowing imported cars to safeguard their business, issue each person their civilian car like a social security number!? Let's slow down a minute Mr. President and really think about what you're doing and how it will affect life today, and tomorrow.

I am in complete fear of the future. For our country and the world.
http://online.wsj.com/article/SB124083476254259049.html