GM IPO: WILL "GOVERNMENT MOTORS" BECOME THE "PEOPLES' REPUBLIC OF GM?"

By Cammie

Stock market wonks and bargain-hunting investors are anticipating the "initial public offering" for the new stock in "Government Motors" (nee General Motors). And according to one report, one of the most interested potential investors is another "government motors" outfit -- China's SAIC.

So now we've "saved" GM just so a cadre of "godless communists" can get their mitts on what's left. We're a long way from the days of "Better dead than Red!"

To be fair, GM and SAIC have been "fellow travelers" for a while now.

And undoubtedly every one of GM's revolving chain of recent bosses, from Rick Wagoner to "Dial Tone" Ed to boastful IPO wonk Dan Akerson, realizes that the Peoples' Republic of China is the growth market for the future, as well as America's main financier these days. (What was that quote about "capitalists selling the commies the rope they'll hang us with?" Apparently the capitalists will make that rope on "red" credit.)

So, the "Government Motors" bureaucrats likely see an equity tie-in with a Red Chinese government carmaker as a "win/win." And neither they, nor our CINC are going to miss a tee time worrying about any negative implications.

What a mess! Isn't globalization (a/k/a the looting of America) fun?

And it just keeps getting worse and worse. Autoextremist is reporting that Chip Ganassi has blown off Ford's courtship in favor of a deal with "Government Motors" that will include a GM-badged twin-turbo V6 for Indy Car racing.

Oh joy. The Indianapolis 500 is about to become a contest between Japanese and Sino-American carmakers, fought with the horrible noise of "buzzin' half-dozen" engines.

Oh for the days when the hallowed confines of the Brickyard reverberated with the sound of turbocharged Ford V8s! How the mighty have fallen!

At least Ford will have its utter domination of NASCAR (losing) to console itself.