Tuesday, March 27, 2012

Bailed Out General Motors Now Sending Jobs to Russia

Remember those General Motors commercials thanking the American taxpayer for bailing out GM. I believe the commercial was called "We All Fall Down".



Well, General Motors proves how insincere they were after taking billions of your tax dollars in the form of bailouts. The goal of the bailouts were to save American jobs, but as BBCW has reported many times, factories began moving to South Korea, China, and Mexico shortly after the bailout. Now General Motors is about to give the American taxpayer another kick in the behind.

Bloomberg reports:

General Motors Co. (GM) is planning to shift more of its production to low-cost countries including Poland, Russia, China, India, Mexico and Brazil, Der Spiegel reported, citing a company strategy paper.

As the automaker’s output is increasing, GM plans to build 80 percent of the additional units in low-cost countries, the magazine said in an e-mailed preview of its article.

By 2016, GM plans to export an additional 300,000 vehicles from factories in Mexico, Korea and China to Europe, Spiegel said.

Don't you feel the love from General Motors? By the way, why isn't Obama saying anything after pushing these bailouts through to "save American jobs"?
Posted by Bungalow Bill

2 comments:

  1. gm paid back their LOAN, not a bailout. you're an idiot and your article is spreading false notions about the automaker's intentions.

    ReplyDelete

  2. Fist off, the loans were bailouts. You are the one spreading false notions. Senator Charles Grassley stated at the first of this month that GM still owes taxpayers $28 billion.

    "As the company gives out bonuses, the Treasury Department needs to have an exit strategy for getting GM to repay the taxpayers for helping the company survive," says bailout critic Sen. Charles Grassley. The government has recouped more than $22 billion of the $50 billion it spent to rescue GM, but it still owns close to a quarter of the company. Its shares are worth $13.2 billion, and will have to more than double in price for the government to get all its money back. GM argues that the bonuses—which are being offered instead of pay raises—are necessary to prevent rivals from poaching its talent.

    ReplyDelete

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