Governments Riding in to Rescue Firms

What is a government to do when a company faces a near-death situation? In almost all cases, the right answer is to let the company go under: It is not the job of a government to prevent companies from dying. Indeed, creative destruction is central to the proper functioning of capitalism. Capitalism without failure . . . → Read More: Governments Riding in to Rescue Firms

Is GM’s Money-Back Guarantee Good News?

Last week General Motors (GM) announced their new program that further attempts to boost consumer confidence in their vehicles. The money-back guarantee states that you can return the vehicle for any reason, no questions asked, up to 60 days after purchase.

A quote from GM’s press release reads like this:

General Motors . . . → Read More: Is GM’s Money-Back Guarantee Good News?

Forced to be a Good Citizen and Buy American?

When I heard about the “big 3″ (GM, Chrysler and Ford) whining for “bail outs” I remembered Atlas Shrugged. It is long ago, I read that novel, but I remember very well, what those “honorable” industrials did to survive in spite of their obvious incompetence. They asked the government to protect them. Some things . . . → Read More: Forced to be a Good Citizen and Buy American?