BofA argues GM, Ford, and Stellantis either face a future of funding continued losses in China or they can redeploy resources to finally become competitive with Tesla. But they can’t do both.
I assume the $6 billion refers to their recent stock buyback? Stock buybacks should be illegal, but I don’t see where that’s ripping off the government. It’s actually notable that the government took a massive ownership stake in GM in exchange for the COVID bailout.
You know that American car makers are heavily subsidized right? Didn’t we just post a story about GM fleecing the government of 6 billion.
It’s amazing how Americans have zero self-awareness.
See my other reply to a similar comment.
I assume the $6 billion refers to their recent stock buyback? Stock buybacks should be illegal, but I don’t see where that’s ripping off the government. It’s actually notable that the government took a massive ownership stake in GM in exchange for the COVID bailout.
Here’s the story https://lazysoci.al/post/14658610