Well itÂ’s official. IÂ’m never buying a GM product again. General Motors Files for Bankruptcy Protection.

The plan is for the federal government to take a 60 percent ownership stake in the new GM. The Canadian government would take 12.5 percent, with the United Auto Workers getting a 17.5 percent share and unsecured bondholders receiving 10 percent. Existing GM shareholders are expected to be wiped out.

Chrysler did this back in April, and when they did I was annoyed that the government feels the need to own and operate businesses. I vowed at that time to never own a Chrysler product again, but that wasnÂ’t a big deal because I vowed that when I was in college and IÂ’ve never seriously looked at buying anything ever made by Chrysler.

I’ve owned Fords and GM products, and other than Ford cars, I’ve been happy with them. I’ll never own another Ford car after the catastrophes that were the two previous ones I owned. Now I know some of my readers will throw magazine reviews and statistics compiled by “independent” sources, but honestly my experiences with the Ford car division and others that I know that own them pretty trump what ever I read in a magazine from a person I don’t know. Ford trucks I’ll swear by, they’re a good sturdy truck.

With GM now out of the running, when it comes time to get replace either my truck or KtrevaÂ’s van, I know it wonÂ’t be with a vehicle made by GM or Chrysler. IÂ’m not buying a vehicle from a government owned company. Oh, and now that they are partially owned by the Canadian Government as well, IÂ’m definitely not buying from a foreign government.

Fortunately it will be years before I have to buy a new vehicle.

Posted by: Contagion at 08:28 AM | No Comments | Add Comment
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