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Old Three, is a vast retirement home with a small money-losing auto subsidiary

Mark Steyn: We're in the fast lane to Bailoutistan
Besides Detroit, California and New York are in sad shape.
Mark Steyn
Syndicated columnist
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"See the USA in your Chevrolet!" trilled Dinah Shore week after week on TV.

Can you still see the USA in your Chevrolet? Through a windscreen darkly.

General Motors now has a market v More..aluation about a third of Bed, Bath & Beyond, and no one says your Swash 700 Elongated Biscuit Toilet Seat Bidet is too big to fail. GM has a market capitalization of about $2.4 billion. For purposes of comparison, Toyota's market cap is $100 billion and change (the change being bigger than the whole of GM). General Motors, like the other two geezers of the Old Three, is a vast retirement home with a small money-losing auto subsidiary. The UAW is AARP in an Edsel: It has three times as many

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Added: Dec-23-2008 
By: _Byron_
In:
News
Tags: auto big3, bailout, UAW
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