There's been much hand-wringing over the federal government's relationship with General Motors now that Uncle Sam owns 60% of the company.
But the situation is no less troublesome for consumers, who, as taxpayers, will share in GM's fate. As owners of the company, are we obliged to buy its products to maximize the value of our investment?
Put another way, are we now hurting ourselves any time we buy non-GM vehicles? After all, if you owned 60% of Macy's, you'd be kind of foolish to do your shopping at Target.
I put these questions to drivers at several gas stations in West Los Angeles on Tuesday, a day after GM filed for bankruptcy protection and the government committed another $30 billion in taxpayer money toward keeping the automaker afloat.
The bottom line: We may own the company, but many of us don't want what it sells.
L.A. resident Gary Hawkins, 46, said he owns a 1975 Chevy Monte Carlo and loves cruising around in it. But if he had to buy a new car today, he wouldn't go anywhere near a Chevy showroom.
"I'd rather buy a Honda," Hawkins said. "They're more dependable."
I heard that a lot, especially when it came to Hondas and Toyotas -- you get more bang for your buck.
And even when I pressed people on how they could shop elsewhere when they own 60% of a company, they stuck to their guns.
"Japanese cars last longer and don't break down as much," said Lennox resident Armik Craft, 22. "People I know with Chevys and Fords make more repairs." Craft drives a 1997 Honda Accord.
"I didn't choose this investment," he said of the government's GM stake. "I don't want these cars."
There isn't a single GM car Craft would want?
He considered a moment. "Well, maybe a Saturn. That's GM, right? I like the Saturn."
Um, that's one of the brands that GM says it will either sell off or kill.
"Man," Craft replied, shaking his head, "It's hard to work with these guys."
But it wasn't all gloom and doom on the GM front. I did meet a number of drivers who either swore by their GM vehicle or were open to test driving whatever the company comes up with.
"I feel pretty good about owning GM," said Indianapolis resident Travis Boruff, 38, who was visiting L.A. with his family. "Back home, I drive a Pontiac Torrent and a Chevy Malibu." He was so enamored of the car, his rental was also a Malibu.
"But you should ask my mother," Boruff said. "She used to work for GM, and she isn't happy."
