I think I’ll make a stop at the Chevy dealer on the way home. You know, just to see if I get a shareholder’s discount or something

Under the proposed restructuring, about 60 percent of the new GM would be owned by the United States, about 12 percent by the governments of Canada and Ontario, a union health trust would own 17.5 percent, and the company’s current bondholders would get 10 percent.The United States will invest another $30 billion during and after the GM bankruptcy process, officials said last night, bringing the U.S. commitment to $50 billion.

Following that infusion, “the U.S. Treasury does not believe or anticipate that any additional assistance to GM will be required,” a senior administration official said last night, calling the restructuring a “permanent” solution.

Ah, the beginning of massive nationalization. This should end well, right? I mean, we’ve all witnessed the wonderful ability of the federal government to manage business, keep plans on budget, hold management accountable, and create smoother, more effective processes.

Take note of how the unions will own 7.5% more of the new company than the bondholders, despite the fact that bondholders held more of GM’s debt than the unions. The new era of hope, change, union control, and nationalization is upon us.