Obama saving Chinese Jobs

[CarmelHP]

Thanks, Barry, you stupid sack of s**t



Thursday, May 14, 2009

U.S. Taxpayers Saving Chinese Jobs at GM


I'm sure glad we're giving GM all that money:

DETROIT (AP) - As thousands of General Motors workers await word on more U.S. plant closures, reports that the company plans to import Chinese-made vehicles to the U.S. have created a political problem for the automaker and the White House.

The reports, which GM will neither confirm nor deny, could mean trouble because GM is supported by $15.4 billion in U.S. government loans, largely due to the Obama administration's desire to preserve the company's 90,000 U.S. jobs.

The United Auto Workers charged last week that the Detroit automaker intends to almost double over the next five years the number of vehicles it imports to the U.S. from Mexico, South Korea, China and Japan.

"GM should not be taking taxpayers' money simply to finance the outsourcing of jobs to other countries," Alan Reuther, the union's Washington lobbyist, wrote in a letter to U.S. lawmakers.

The carmaker, which was in danger of running out of cash early this year, faces a June 1 government deadline to cut costs and complete other restructuring measures or go into Chapter 11 bankruptcy protection. It also has requested another $11.6 billion in government loans to make it through this year, and faces the prospect that the government will soon be its largest shareholder.

On Wednesday, Shanghai Securities News and other Chinese media reported that GM plans to begin exporting vehicles from China to the U.S. within two years, ramping up sales to more than 50,000 by 2014.

GM spokesman Tom Wilkinson in Detroit would not comment on the reports. The White House and Treasury Department did not immediately respond to requests for comment.

How's that for a kick in the teeth to the United Auto Workers?

And Obama also plans to give $108 billion to bail out foreign countries through the IMF. Michelle Malkin has the details.

[mettle]

I don't like reading stuff like this... it makes me... very aggravated, to say the least.

[Fletch]

EVERY government intervention into the market has unintended consequences. Looks like Obama is learning this the hard way.

[homeless]

Take a long hard look at GM and you will see the America of the future. It was a company that when things were going well they refused to shake off the leeches and the looters. They were once the industry leader; in quality, price, and market share. However they let themselves slip. They did not change with the world that they thought they had created. Now the parasites that they took in out of kindness are killing them and there is nothing they can do. The political climate changed around them and what little help they can find is a deal with the devil. And Lastly there hasn't been any real leadership in the last 30 some odd years. ( ok that isn't the america of the future, more like the past, present, and future.)

I for one will be happy to see this bloated corpse of a company die off, and hopefully they will destroy the UAW in the process.

[Fletch]

Originally Posted by homeless

I for one will be happy to see this bloated corpse of a company die off, and hopefully they will destroy the UAW in the process.

I am a fan of GM. I have 2 of their products sitting in my driveway. I've bought GM for 15 years. But I agree with you.

[leftsock]

Hey, most companies' biggest expenses are worker wages and health care.

Maybe with the cash we gave them and reducing these expenses they'll actually be able to save the organization. That's what we wanted, right?

Really now, were there any stipulations placed on the bailout pile-o-cash?

[cce1302]

Originally Posted by Fletch

EVERY government intervention into the market has unintended consequences. Looks like Obama is learning this the hard way.

You have been deceived if you believe that Obama is learning anything, or that any of this is hard for Obama.

It is we, the people, who are learning (I use the term loosely) anything the hard way.

[Fletch]

Originally Posted by cce1302

You have been deceived if you believe that Obama is learning anything, or that any of this is hard for Obama.

It is we, the people, who are learning (I use the term loosely) anything the hard way.

Sorry, I tend to think of Obama and those who voted for him as a sort of collective hive-mind. So while the individual Obama-unit might not be learning anything significant...

Oh hell with it, I'm sure you're right. When ideology trumps reality, education is probably impossible.

[IndyGunworks]

Originally Posted by Fletch

When ideology trumps reality, education is probably impossible.

And that is the problem with democrats

[CulpeperMM]