[h/t to Gator] The Jurassic Press is missing much in their reporting on the $50 billion bailout of General Motors (GM). The Press is open channeling for President Barack Obama - allowing him to frame the bailout exactly as he wishes in the 2012 Presidential election.
The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.” And the Press is acting as his stenographers. An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt. The Press is at every turn covering up - rather than covering - the serial failures of President Obama’s signature vehicle.
The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention.
GM and the Administration don’t know. And the Press ain’t breaking their necks trying to find out.
In more recent news, the Press has almost as one hailed the June Volt sales increase.
The Press has for the most part failed to mention how pathetic this “second-best sales month” actually is. And even when one Dinosaur does, the unwarranted enthusiasm is palpable.
Wow. Huge number.
The Press also fails to put this pathetic tally in perspective.
The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery. Which makes it $17,000, rather than the Volt’s $41,000.
Chevy in June sold 18,983 Cruzes - more than ten times the number of Volts. And that’s down 1/3 from last June’s 24,648.
But that feeble Volt tally has the Press all revved up.
And speaking of the Volt’s ridiculous $41,000 sticker price:
According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped.
Get that? GM makes “little or no profit” on the Volt.