The slap fight between Donald Trump and Elon Musk has highlighted the absurdity of keeping so much of our space program and satellite internet infrastructure in the hands of a single oligarch.
The GM situation was a more than a bailout, they took complete control of the company, took it private, liquidated some assets, then sold it off in a new IPO.
It’s not all that different from a private equity firm doing the same thing, the major difference is the legal protections the US had (e.g. it got priority over all other creditors). If the US wanted to keep it and run it, it could’ve.
The GM situation was a more than a bailout, they took complete control of the company, took it private, liquidated some assets, then sold it off in a new IPO.
It’s not all that different from a private equity firm doing the same thing, the major difference is the legal protections the US had (e.g. it got priority over all other creditors). If the US wanted to keep it and run it, it could’ve.