The Sector Formerly Known as Private

In January, when the heads of GM, Chrysler, and Ford return to Washington on their corporate jets, Democrats in Congress and President Obama will be more than happy to give them money. But, like the Godfather, the Democrats will ask Detroit for a favor in return. That favor may be boardroom seats, preferred stock, or strict regulations governing what type of cars Detroit can make, how they make them, and at what price they sell them. Instead of one CEO, GM will have as many as 535. Does anyone seriously believe that this will improve the company's fortunes?