"It does not have to be formally 'nationalized' to be under government ownership and/or control. The government continues to hold enough GM stock to overrule any decision proposed by the board to to force he board to do anything it wants. The management serves at the pleasure of the President and can be fired by the President at a moment's notice."Yes, you are correct. The government did receive temporary partial ownership as a part of the reorganization, however the form of ownership is preferred stock which has no voting rights and thus has no voice in how the business is run. It therefore has not been nationalized.
It does not have to be formally 'nationalized' to be under government ownership and/or control. The government continues to hold enough GM stock to overrule any decision proposed by the board to to force he board to do anything it wants. The management serves at the pleasure of the President and can be fired by the President at a moment's notice.
That doesn't square at all with your statement that the government owns no part of General Motors.
It does square with you either not having a clue what you are talking about or swallowing hook, line, and sinker propaganda from some pro-Obama, pro-Marxist socialist site.
Please explain. The government holds not-voting preferred stock. How is the government going to overrule management if they have no vote in the operations of the company.
I'll simply refer you back to the links I posted earlier. The U.S. government is the majority stockholder in General Motors and the CEO serves at the pleasure of the President of the USA who can fire him at any time.
Dispute that from any credible source if you can.