Mismanagement at the Big Three - Mises Economics Blog

"It was a dead heat. General Motors sold 9.37 million vehicles worldwide in 2007 and lost $38.7 billion. Toyota sold 9.37 million vehicles in 2007 and made $17.1 billion.

That was the second best sales total in GM's 100-year history and the biggest loss ever for any automaker in the world.

For Toyota, that was roughly $1,800 in profit for every vehicle sold. For GM, it was an average loss of $4,100 for every vehicle sold."(Emphasis Mine.)

Bail these companies out? Bail out a company that after a century still hasn't figured out a way to not lose 16% on every sale? Isn't this rewarding total--and I mean, total--stupidity?