GENERAL MOTORS FILES FOR BANKRUPTCY AND ENJOYS INSTANT KARMA

June 1, 2009

CRUCIAL BLOG # 44

General Motors files for Bankruptcy Protection, June 1st, 2009 — Business Karma at its finest.

Today, General Motors filed for bankruptcy protection to wipe-our over 170 BILLION dollars worth of debt and its stock is now worthless, being worth over $70 a share less than 10 months ago.

INSTANT BUSINESS KARMA for KILLING the ELECTRIC CAR in the 90's perhaps.

GM could have been an innovator and lead the new technologies into the world of oil independance, but instead decided to not only scrap the entire project, but confiscate all the leased electric cars which the owners wanted to buy but they were not allowed to purchase after offering millions to buy the vehicles.

NO NEGOTIATIONS. THEY FRICKEN DESTROYED and BURRIED the cars and technologies and Chevron bought the Electric Battery company just to scrap the entire project.

Then came the gas guzzling S.U.V.’s. Karma is a bitch GM.

I, as well as yourself, your parents, your children and your friends are all now unwittingly owners of this troubled car company thanks to the US and Canadian Governments. Your tax dollars not-so-hard at work and I am not sure when my bail-out package will be coming. I only applied for 12 million so it should not be a real problem. I also promised not to waste more than 10% absolutly frivously.

This seems like a case of pure business KARMA and I am wondering when all the high-level executives started selling-off their stock options and arranging their Golden Parachutes at GM.
This system of ours, built on greed is falling fast and failing amazingly and miserably. The goals of business should be to build the highest quality proiuct with the lowest impact on the environment, promote the highest morale within your staff and share in the successes EQUALLY. Do NOT take more than you need. Do NOT get rewarded for poor results, and try to do what is right for not only the company, but the world, the environment, the stock holder.
The wheels have fallen off the business model and we need to shift our collective attitudes towards business to achieve a harmonious relationship with it.

Also, Toyata, Honda, Mercedes-Benz and BMW have pretty much proven that their products are superior both in quality and fuel-efficiency.

The last time that I checked, the price for failure in business was failure. I know that this would be devastating and I hope that the ship can be righted after such a stormy ride over the last 10 months.

Good luck GM. I am now the not-so-proud owner of a car company. Cool? don't think so

By the way, all this mess was triggered significantly when the price of oil hit $150 a barrel.

Karma is a bitch and always will be. Always. But Karma is only a Bitch for those who do not live their Dharma...and big business has not been doing that.

Paul Benoit