Did We Just Bail-Out GM with $80B Only to For Them to Move Most of the Company to Communist China?

Reaganite Republican ^ | May 30, 2012 | Reaganite Republican

[Reaganite Republican]

Regardless of how much of your money Obama throws at them, Government Motors clearly has NO interest in working with his UAW pals over the long-run- and why should they? 

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 actually sponsored a recent made-for-TV communist 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 Communist Party 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' Willow Run plant in Saginaw, Michigan. Among other things, Saginaw's largest employer AVIC also exports anti-ship missiles to the 
  Islamic Republic of Iran.

Yet Trump -who screams about China ripping us off day-in-and-day-out while Detroit circles around the drain- is just a kook, 

right Barry the Volt-dolt?

Even you die-hard Obammunist union guys ought to realize by know we're getting raped here... one of our largest corporations took our $80B, then turned-around and invested heavily with a daunting political and military adversary... with money borrowed from the frickin Chinese in the first place! 

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

[Reaganite Republican]

*** PING ***

[Gaffer]

If you let your wife-beater T shirt husband beat the hell out of you everytime the police aren’t there, why would you expect anything different? Because the police paid his bail last time and let him and his buddies out too? What do you expect?

[Reaganite Republican]

SUPERB analogy

This stuff makes me cry, much of my family worked in the auto industry and I was a die-hard Pontiac guy back in the days... until the brand only produced hideous junk and then vanished from the face of the Earth completely

[Gaffer]

It’s a damned shame. I guess we’re gonna have to start breaking things down for the Democrat voter to understand in terms they know.

[RckyRaCoCo]

Here in Mish all we hear about is the "great comeback"...yada yada...of course all the past "concerns" are being whitewashed/ignored(pensions/healthcare liabilities, viable business model, foreign competition, etc).

Like the rest of the U.S. economy, it's like the Titanic, the front part of the ship breaks off and sinks, those in the back part think they're safe...then.....

Trillions in borrowing can paint a nice faux finish...eventually reality bites you in the ass.

[madison10]

...now owns the famed WWII 'Arsenal of Democracy' Willow Run plant in Saginaw, Michigan.

That former bomber plant (Willow Run) is NOT IN Saginaw, Michigan. it is in Ypsilanti, MI. Also, there is hiring going on at several plants, Toledo, Ohio being one. Manufacturing in the US will never be the way it was, how can it? This administration is determined to destroy the middle class.

[Reaganite Republican]

“I guess we’re gonna have to start breaking things down for the Democrat voter to understand in terms they know”

What you referring to, bribery or force?

lol

[Reaganite Republican]

Michigan is never coming back imho

[himno hero]

IT is all consistent with Obama’s plans/actions to quietly create a post America world. Its about dismantling, diminishing, and destroying American ability.

Its that overwhelming bitterness at work.

We need a American in that office.

FUBO

[Reaganite Republican]

Thanks Madison, I should have known that... been by both before, and worked in MI

Conflicting articles called them both the “Arsenal of Democracy” plant, but the one the Chinese bought is Saginaw... not Willow Run.

Corrected on my site, much obliged sir

And what does GM have in Toodly-do? I only know of the Jeep plant

[Darren McCarty]

Due to this, Communist, totalitarian China's AVIC now owns the famed WWII 'Arsenal of Democracy' Willow Run plant in Saginaw, Michigan.

The Willow Run plan wasn't anywhere near Saginaw. It's in the eastern part of Ypsilanti Township, about 100 miles from Saginaw.

[Darren McCarty]

I should mention that China definitely is pushing hard with GM. Hummer was sold to the Chinese.

[madison10]

Toledo has a GM PowerTrain Plant—Transmissions. They took the work from the Willow Run plant, which has now been closed, and moved it to Toledo. The two plants were always in competition with each other and Willow was rather old. Sad.

Problem with the Willow Run plant-any transmission plant actually—is the supposed demise of the combustion engine.

(PS I’m a ma’am. LOL)

[madison10]

Regarding hiring at ANY auto plant in US: about as much chance of obtaining a job as winning the MegaMillions Jackpot. The odds are probably worse for the job.

[Vaduz]

Did We Just Bail-Out GM with $80B Only to For Them to Move Most of the Company to Communist China?.

Wonder if unions have played any part in it?.

Either way all thank you cards should be sent to Obama&Co.

[Darth Reardon]

Yes, GM and the regime ripped off pretty much everyone. I’ll certainly never do business with them.

That said, going forward, how would you suggest GM deal with the largest auto market in the world?

Build cars in the USA, ship them to China, and lose money?

Sit on the sidelines and watch other companies make money?

Build cars in China, sell them in China, and make a profit?

[Reaganite Republican]

OK Ma’am

My dad worked at Ford’s Cleveland Casting Plant, built in WWII and also essential in the war effort

And recently razed to the ground, although a new engine assembly plant and other older facilities remain there on Brookpark Rd next to Cleveland Hopkins Airport

[Reaganite Republican]

Conflicting articles called them both the “Arsenal of Democracy” plant, but the one the Chinese bought is Saginaw... not Willow Run, as noted above.

As for Hummer... the Chinese have already developed their own clones of the car as well. Private companies can do as they please, and I understand building cars there for the Chinese mkt.

Where we run into trouble is $80B TARP bailouts with NO concern by the Obama administration for US jobs. They seemed to focus on aiding the UAW, so only incompetence and naivete could explain allowing GM to run off to China... and with R&D too, you know the Chinese demanded that in the deals.

Problem, thy name is OBAMA

[khelus]

An example of why Marx promoted ‘free trade’ (the unfettered movement of capital, freed from all political, national and religious shackles) to speed up the onset of global communism.