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.
The result?
- 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?
My Bay City Wikipedia Say Anything YouTube h/t Speedunque
11 comments:
General Motor a great American Icon his co-owned by Brazilian and Chinese private interest. It's been so since GM was put up for sale by The Obama Administration of whom sold the remain American owned A1 shares to the Chinese interest for a song and a dance. So yes, you idiots just bailout GM at a tune of $80 Billion and nothing to show for it. But hey, this his old news where the hell have you been? Protesting with the rest of the dumb arse uneducated, illiterate Occupy idiots?
Here's one just off the press for you, RIT CAPITAL PARTNERS a Rothschild Interest Capital Group as just acquired a 37% equity interest in an other Iconic American institution, the Rockefeller Financial Services, Inc.
It seems to me that the United States of Hypocrisy his being sold off to who so ever has invested interest in the break down of a once great nation.
Thanks for your input, hoser lol
You just gotta love them commies ... the one in the White House and the ones across the sea.
At least the Chinese are out of the closet!
China's probably just holding GM as collateral against all those loans.
Or, we're hoping they buy enough Volts to cripple their own economy!
Too bad Reagan ain't still around...
But Republicans also need to realize the entire war strategy of the Bushes and Clintons is aimed at building the kind of global village that allows international corporations to send jobs to the lowest bidder.
If Reagan had been president after 9/11. Iraq would either be the 51st state or it would be glass. Afghanistan would have been parceled out to its neighbors. Our troops would have been home in three months and protecting our borders.
I can't believe Republicans were stupid enough to fall for the old cold war lines of "This is a new kind of war, a new kind of enemy" "we just have to be patient" "we are winning the hearts and minds of our enemies" "They just want democracy like we do but they are also a culture of death"
Bush betrayed Republicanism and Romney will do the same. The Republicans have enough to start impeachment on Obama but they won't do it because deep down they admire his ability to expand government power. Deep down they are salivating to get back in power and take the reins Obama has fashioned for them. Big government conservatives aren't any better than big government liberals.
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General Motors is an old hand at treason. You see Herr General Motors and Ford built factories in Nazi Germany supposedly for civilian purposes. But low and behold those dirty Nazis started uning those very same plants to make Messerschmidt fighters and Panzer tanks. BUT WAIT THERE'S MORE! You see boys and girls duging the war American B-17 and B-34 strategic bombers bombed those very same factories and Ford and General Motors sued the Federal Government for damages-AND WON! Don't belive me?!? Read this article by Washingto Post writer Michael Dobbs. http://www.washingtonpost.com/wp-srv/national/daily/nov98/nazicars30.htm
Great thinking Proof, ha!
And agree with most Jay- but what I'm getting at is the campaign debate of Romney saying TARP was a mistake and Obsama telling every UAW worker how they would have been toast if he hadn't been there to save them... does anybody actaually think we got our EIGHTY BILLION worth now?
And MD, those Ford factories are still in Germany... have been for 85 yrs.
Hey, Ford is building a business in China too, and that's fine with me... they didn't take any bailout from the US taxpayer to do it, and that's the only point here... Obama should have required them to keep jobs here with taxpayer $, doncha think?
A thought: only one hope for Michigan- make it a RIGHT TO WORK state
Other than that, forget it...
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