Are GM Bailout Funds Being Spent Overseas?
Tags: Government Bail Outs, Make/Mine/Grow.
Click here to get Caucus of Corruption: The Truth About The New Democratic Majority by Matt Margolis and Mark Noonan.
Because whenever the government steps in, its always a good thing, right?
Here is a question: You, as a taxpayer, now own a stake in General Motors. 50 billion dollars of taxpayer money was invested in the company. Now, if the company decides it is in the best interest of their bottom line to invest some of that money overseas, would you be upset?
That’s a question being asked of GM today. GM is using some of the money floated to them by the US government to bolster its operations overseas. The upset is that part of the justification for investing tax dollars in GM was to create (or save) jobs here in America.
The company argues that they are necessarily global and boosting sales overseas helps the taxpayer, helps investors, and creates jobs. Everyone benefits from a stronger company.
Don’t work on building better cars. Don’t work on lowering domestic production costs. For cripes sake don’t even think about lowering bloated union payrolls and benefits! Just move the production overseas and generate “increased” profits by virtue of paying foreigners starvation wages. Its the story of corporate America over the last 20 years – stupidly destroying itself at home in order to make the quarterly results look good in time to pass out the bonuses.
This is what comes of both corporate and government stupidity – GM and the UAW drove GM in to bankruptcy, so along comes Uncle Sam to bail out the failed corporation…and off goes the failed corporation to look after itself rather than do something useful for the US. And don’t think the UAW will squawk much about this – as long as the generous pension benefits keep coming in and union members in the US keep the donations flowing to the Democrat party, you’ll hear nary a peep out of the UAW. There might be come pro-forma complaints, but they won’t amount to anything in reality.
Government can’t do business. Large corporations can’t do business. What we need is to encourage new, small and mid-sized companies which are in the making, mining and growing industries and then get the heck out of the way.
Thank you for visiting Blogs For Victory. If you enjoy our content, please consider making a donation to help us cover the costs of our servers.Mark Noonan is co-author (with Matt Margolis) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at Nevada News and Views. Follow Mark on Twitter.
8 Responses to “Are GM Bailout Funds Being Spent Overseas?”
Caucus of Corruption
This sounds about right for libs. I currently own a Chevy, but will not replace it with one if they still owe us money. Of course, given my usual pattern, I won’t replace the car until 2017, since I bought it in 2007.
Sounds about right.
Ok, that is scary, Sergei and I agreeing!
Relax, I was referring to Mark’s analysis. I’m not sure how boycotting their product will help us get our money back.
SA
I’m not sure how boycotting their product will help us get our money back.
Not my problem…..it shouldnt have been given to the unions….err auto mfgrs in the first place, it is a losing hand.
see if they can peddle their JUNK in samalia.
These businesses are all old and in stage four. The remedy is not a cash influx. read more
http://www.bizplanhacks.com/50226711/the_life_cycle_of_a_business.php
4. Disruption & Decline Stage: Disruption in business activity can range from increased competition, an economic downturn, a significant change in consumer demand patterns. The business si spending more than it brings in and unless something is done quickly to turn things around, it is just a matter of time until the business fails. At this stage of the business life cycle the business, the owner, and the staff need an extreme makeover. More than just strategy the focus has to shift to stabilizing the business and stop the bleeding. Then the business needs to be completely rebuilt to create a value added offering that rekindles consumer interest and demand for your products and services.
we will never “get our money back” out of GM…face it…squeeze them the unions will cry…try to pull the bail out out of them to return to the national treasurey and union lobby will scream bloody murder
I need a car and like the Malibu but won’t buy GM ever again and am selling my Silverado to buy a Ford.
The salesman at the Ford dealership said he was amazed at how many people have told him, and the sales staff in general, that they always bought GMC but after the bailout they are shifting to Ford.