Friday, November 12, 2010

GE to peddle influence -- buying cars from the government

Talk about apple-polishing. General Electric wants to look its best when it seeks more government contracts. Okay. That's good. But this time the grooming depends on buying overpriced cars from Government Motors. Not good. Stockholders should speak up.

GE to buy 25K electric fleet vehicles

GE said Thursday it will buy 25,000 electric vehicles for its fleet through 2015 in the largest-ever purchase of electric cars.

GE will begin with an initial purchase of 12,000 vehicles from General Motor Co., starting with Chevy Volt in 2011. The conglomerate said it "will add other vehicles as manufacturers expand their electric vehicle profiles."

The first Chevrolet Volt is expected to roll off production lines later this month.

GM confirmed the announcement with CNN

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Blogger SNAKE HUNTERS said...

Just more fruitless spending to pump up Gubmint Motors, praise be to our Messiah-In-Chief (all praises be to his precious name).

Since the tax-payer funded GM now owns a 61% equity, risky stock options are available.

What's next? Am I misinformed?

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4:12 PM  

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