GM Sends Bailout Money Overseas while Planning American Layoffs
Posted by The MaryHunter on moonbattery.com -
Remember that $50.2 bazillion bailout that GM received earlier this year, turning it into Government Motors (a federally supported subsidiary of the UAW)? And how that bailout was supposed to ultimately save American jobs and keep that vital automotive sector alive?
Fast forward about half a year to this, your tax dollars at work in Latin America:
For example, "Government Motors" is spending your tax dollars in Brazil. According to the president of GM Brazil-Mercosur, Jaime Ardila, the $1 billion to "complete the renovation of the line of products up to 2012" will come from the $50.2 billion bailout GM received earlier this year. Yet at the same time, GM says it intends to eliminate 21,000 U.S. jobs by the end of 2010.
I'm sure they'll only be firing marketing and publicity personnel, since they'll have the Obama Administration to handle all of that now. But wait, let's not forget our bailout-worthy friends just across the border:
GM plans new investments in Mexico of $1.2 billion through 2011.
...and don't even think about forgetting our environmentally sensitive friends half way around the globe:
[GM] has promised to "continue to invest heavily" in China and to roll out at least five new brands there before the end of the year.
But wait: What about our European allies, most of which just love our new New Dear Leader so very much? OK, why not:
And last Thursday, General Motors Chief Executive Officer Fritz Henderson said the company could tap some U.S. government aid to help restructure the company's European Opel unit. According to GM statements, "as a matter of principle, [the U.S. authorities] are not opposed to GM making investments in its foreign operations."
When "a matter of principle" stands in apparent contradiction to the whole presumed point of the government takeover of GM -- to save American jobs, prop up a (decaying but yet somehow vitally important) American industry, and thereby boost the American economy -- then foreign investment seems a little counterproductive.
The "Free Market" isn't "Free" if federal funds are involved. In this perverse scheme, all tax-paying Americans -- from the loopiest vegan moonbat to the most free-market conservative business owner -- are now stockholders in GM. That is, non-voting stockholders with absolutely no choice to NOT buy into the stock, which offers no dividends, just feel-good vibes about a more prosperous nation, if only we save just this one industry over here, for the sake of America's workers.
Multinational corporation or not, Government Motors has no business spreading our wealth around the globe.
---------------------------------------------------------------------
Does this means that even our federal government doesn't think GM can compete in America? Or do they just want to spread-the-wealth around the world? The ex-employees of GM have to be livid to lose their high paying jobs to Brazil, Mexico, China and other foreign countries. . . . .
---------------------------------------------------------------------
http://moonbattery.com/
