To the Editor:
Executive Editor Edward Lapham's Friday segments on Automotive News TV generally hit the mark, and I look forward to them.
But his comments on the April 23 newscast regarding "What is Normal?" were so far off the mark -- i.e., "So who cares if GM did it by robbing Peter to pay Paul?" -- I have to comment.
GM took money it had borrowed from the Troubled Asset Relief Program out of an account held in escrow and made a payment. Then it went on TV saying, "Thank you," making it seem like it was repaying the loan in full and out of earnings in order to sell product and grease the slide for its upcoming stock sale.
Sorry, Ed, no "good job" on this one.