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Apr 1 2014 03:04pm
http://www.cbc.ca/news/business/gm-boss-mary-barra-grilled-by-congress-over-recalls-1.2593930

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The newly appointed chief executive is on the hot seat after recalling 2.6 million small cars made since 2004 because of defective ignition switches that turn off while the car is being driven.


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Particularly damning was an internal GM memo dating from 2005, examining problems with the Cobalt ignition switches but opting against a recall.

“Tooling costs and piece price was too high and none of the solutions present a suitable business case,” the memo read in part.


as usual good business sense prevails in the dilemma over absorbing the cost of a recall vs saving lives

what we need to do is get pesky regulators out of the way and let the free market decide where to set acceptable levels of loss of life in the production of goods and services

any car company that produces low quality cars that kill people would naturally be driven out of business as people flock to companies that are less likely to cause serious harm or injury with their products
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Apr 1 2014 04:11pm
Something bad happened.
We better implement even more oppressive and economically disastrous regulations on top of the countless ones we already have.
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Apr 1 2014 04:55pm
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Apr 1 2014 05:00pm
Quote (duffman316 @ 1 Apr 2014 16:04)
http://www.cbc.ca/news/business/gm-boss-mary-barra-grilled-by-congress-over-recalls-1.2593930





as usual good business sense prevails in the dilemma over absorbing the cost of a recall vs saving lives

what we need to do is get pesky regulators out of the way and let the free market decide where to set acceptable levels of loss of life in the production of goods and services

any car company that produces low quality cars that kill people would naturally be driven out of business as people flock to companies that are less likely to cause serious harm or injury with their products


If you're trying to argue that the government isn't involved in businesses enough, I don't think you want to show GM not being allowed to go bankrupt in a negative light.
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Apr 1 2014 05:07pm
Quote (Cellmat @ Apr 1 2014 07:00pm)
If you're trying to argue that the government isn't involved in businesses enough, I don't think you want to show GM not being allowed to go bankrupt in a negative light.


Yeah thats the other angle i was going to take. A company that did all these bad things was propped up by a massive government bailout and competition stifling regulations.
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Apr 1 2014 05:39pm
Quote (Cellmat @ Apr 1 2014 06:00pm)
If you're trying to argue that the government isn't involved in businesses enough, I don't think you want to show GM not being allowed to go bankrupt in a negative light.


not at all what i'm saying though i do believed they're very much involved in the wrong way, the scandal with hsbc being the best example
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Apr 1 2014 06:05pm
Quote (cambovenzi @ Apr 1 2014 02:11pm)
Something bad happened.
We better implement even more oppressive and economically disastrous regulations on top of the countless ones we already have.


Yes, because safety regulations are oppressive and economically disastrous.
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Apr 1 2014 11:09pm
Toyota's case with the faulty accelerator coverup

Quote (thundercock @ Apr 2 2014 11:05am)
Yes, because safety regulations are oppressive and economically disastrous.


Vouch
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Apr 1 2014 11:12pm
Quote (thundercock @ Apr 1 2014 08:05pm)
Yes, because safety regulations are oppressive and economically disastrous.


Even the tiniest bit of research on the subject would tell you that the unbelievably long list of regulations we already have prevents citizens from doing all kinds of peaceful things and adds huge costs to business that could have been spent differently improving people's lives. This effect compounds as time goes on as more and more wealth that would have been created can not be built off of.
According to one study in the Journal of Economic Growth our annual output is "28 percent of what it would have been had regulation remained at its 1949 level."
Adding more and more and more regulations in an effort to completely stamp out all perceived wrongdoing will just worsen the effects.

But hey lets have a police state where you cant even open a lemonade stand or buy a lightbulb or take a dump without government approval from expensive bureaucrats.
After all, we have to stop all 'crime'. Don't we?

This post was edited by cambovenzi on Apr 1 2014 11:13pm
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Apr 2 2014 12:54pm
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