GM executives were left to do pretty much as they please...
You can be forgiven for thinking that the serially-incompetent Obama Administration might have placed some restraints upon the $80B TARP bailout- but they didn't.
- GM has been aggressively expanding not only sales networks but manufacturing and R-n-D work to the People's Republic of China, where Buick is their leading brand.
- Since the TARP bailout of GM, almost 70% of the auto giant's production has been outside the United States
- GM has already formed 11 joint-ventures in China
- GM has built 11 final assembly plants and 4 powertrain plants in China
- GM CEO/Chairman Daniel F Akerson told an audience in Shanghai last year 'We regard our 11 joint-ventures in China to be 11 keys to success... not just in China, but globally... Our commitment to working in China, with China, for China remains strong- and focused on the future.'
- The Chinese skillfully exploit all foreign joint ventures in order to steal as much technology and know-how as possible while dangling vague promises of 'huge profits' from China's massive market of 1.3B people. To get in, GM promised them more state-of-the-art technology than any other competitor
- CEO Akerson: 'We are now building-out the Advanced Technology Center (in China), which will bring our Research and Development that is centered largely in the United States -we're going to diversify that more into China- because we think this market is so critically important to the success of our company'
- Akerson actually refers to China as 'the crown jewel in the GM universe'
- The Cadillac brand recently sponsored a made-for-TV propaganda film on the Chinese Communist Party called 'The Birth of a Party' (!) in an apparent bid to become the black limo of choice for mafia-esque CPC officials.
- Not only is GM abandoning the US wholesale, they are also doing all they can to help China invest in US energy resources and key industrial plants. Due to this, Communist, totalitarian China's AVIC now owns the famed WWII 'Arsenal of Democracy' weapons (and later automotive) plant in Saginaw, Michigan. Among other things, Saginaw's largest employer AVIC also exports anti-ship missiles to the Islamic Republic of Iran.
right Barry the Volt-dolt?
They're getting stronger every day... so why the hell are we helping them to conquer us all?