GM Has Filed Bankruptcy

Monday, June 1, 2009:

So . . . the other shoe has dropped!  GM has filed bankruptcy – while Ford has plans to ramp up production by 10%.  Sounds like good ‘ole American entrepreneurship to me.   In fact, one individual here in our office bought a Ford over the weekend – telling the dealer she planned to stay away from GM.  The same goes for me – after buying my last 10 vehicles from GM.

For months now, I’ve been saying that the American business cycle is self-correcting when left alone to do its thing.  It’s hardly been left alone lately, but still has life left in it.