this post was submitted on 14 Jun 2024
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Automotive Industry

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GM had $6 billion to spend on EVs, chose stock buybacks (electrek.co)
submitted 5 months ago by [email protected] to c/[email protected]
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[–] [email protected] 36 points 5 months ago (2 children)

Fun fact: The US Gov't never broke even on that bailout https://www.nbcnews.com/businessmain/u-s-exits-gm-stake-taxpayers-lose-10-5-billion-2D11716261

[–] [email protected] 19 points 5 months ago* (last edited 5 months ago)

Of course not.

Just like Cash for Clunkers only lined the pockets of auto manufacturers.

You can't make more of something and somehow reduce energy and materials consumption.

[–] [email protected] 6 points 5 months ago (2 children)

Was it supposed to? The government isn't a company.

[–] [email protected] 6 points 5 months ago

Exactly so they shouldn’t have bailed anyone out in the first place.

[–] PunnyName 0 points 5 months ago

Um. Always has been [a business].