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Kudos to Obama Motors: Chevy Volt; 'Worst Car Stock, Product Flop of 2011' Winner

ALEXANDRIA, VA – General Motors stock (NYSE: GM) finished 2011 down 46.1% - the absolute worst car or car-related product stock on the board.  Besting (so to speak) the second worst by 4.5%. 

And GM’s unprofitable, unpopular, combustible electric Chevy Volt was a ‘Worst Product Flop of 2011’ winner.  Oh, and GM is moving electric vehicle development (and production?) to China – which sort of undermines the jobs “created or saved” reason for the $50 billion GM bailout.

All of which is even more terrible GM news for We the Taxpayers. 

Per the titanic GM stock price drop-off: As a result of President Barack Obama’s $30 billion in additional bailout coin, we own more than 500,000 shares of GM stock.  To break even on our “investment,” these shares must be sold at $53 per.  GM closed yesterday at $21.15.  Which if sold today would mean for us about a $16 billion loss   – just on the stock portion of the GM bailout (we’ve suffered additional huge losses on other portions thereof).

Less Government tracks the looming stock loss – and offers the solution for how we can extricate ourselves from GM – at www.BailoutCost.com.

Less Government President Seton Motley:

“From the moment the bailouts began - and General Motors became Government Motors – we have seen GM stack failure upon failure

“There’s the unprofitable, unpopular, combustible electric Chevy Volt - a ‘Worst Product Flop of 2011’ winner.  That costs We the Taxpayers $250,000 per unit sold.  GM sold in 2011 25% fewer Volts than they had planned – but is in 2012 bizarrely increasing production by 500%.  And despite all of this failure – including the inability to determine what is causing Volts to burst into flames - GM will next year begin producing an electric Cadillac and an electric Cruze

“GM in 2010 received more clean (non-energy) energy patents than any other entity - of the Solyndra, Tesla, Fisker, uber-failure variety.

And on, and on, and….

“And GM and its Obama Administration-Democrat backers ludicrously tell We the Shareholders that all of this failure is a ‘success.’ 

“Well, GM was last year the worst car stock of all - and the Chevy Volt was an award-winning flop.  So the market ain’t buying it.  And neither are We the People.”

" But as the plan of the convention aims only at a partial union or consolidation, the State governments would clearly retain all the rights of sovereignty which they before had, and which were not, by that act, EXCLUSIVELY delegated to the United States. "

-- Alexander Hamilton (Federalist No. 32, 3 January 1788)

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