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CBS' Anthony Mason prepared us for the "once-mighty General Motors Corporation" to become "the smaller General Motors Company." For an investment of $50bn, the United States Treasury will be the majority stockholder, with a 60% interest. "The administration picked the new management team. It is going to pick the new Board of Directors." GM may even change the color of its logo from blue to green "to emphasize its commitment to smaller more fuel-efficient cars." NBC's Kelly O'Donnell gave us a primer on the federal Cash for Clunkers scheme that offers $4,500 subsidies to trade in gas guzzlers for one of those greener vehicles. It turns out they must only be marginally greener--a trade-up from 18 mpg to an inefficient 22 mpg. And buyers can forget about receiving a trade-in from the dealer on top of the government's largesse. All clunkers have to be scrapped.
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