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Article: The public's stake in GM.(Editorials)(Restore company to profitability, private ownership)(Editorial)
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- June 2, 2009
CopyrightCOPYRIGHT 2009 The Register Guard. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: The Register-Guard
Now that American taxpayers own 60 percent of General Motors Corp., "Engine Charlie" Wilson's words have taken on an added layer of meaning: Testifying in 1953 at Senate hearings for his confirmation as secretary of defense, GM's president said that "for years I thought that what was good for our country was good for General Motors, and vice versa."
What's good for General Motors as it enters bankruptcy can be summed up in one word: survival. The country's interests are parallel - it's in the public interest to have the nation's largest automaker, which directly and through its suppliers employs 1 million Americans, emerge as ...