I think GM is testing the waters. If there is no opposition from consumers, expect to see more cars made in China. I agree with you, NOT a good move on GM’s part.
U.S. taxpayers lose $11.5 Billion on GM bailout deal. Bondholders end up with 10 cents on on the dollar. Just say NO to GM!
http://www.usatoday.com/story/money/cars/2014/04/30/taxpayers-gm-bailout-losses/8522681/
http://www.dailywealth.com/2125/gm-americas-biggest-bankruptcy
GM is the typical, 21st American company whose goal is to maximize profit by selling to Americans while making nothing in America. In the long term, it simply is not sustainable, but most companies can’t think beyond the next quarter, let alone 20 years down the road.
Henry Ford was a flawed man, but he was smart enough to realize that there had to be a prosperous Working class (if not Middle class) to buy his products. That was then. Today, most American corporations truly believe that the Government will just GIVE the American people the $$ to buy their products. The long-term viability of that assumption does not seem to concern them. It is the height of short-term thinking, but it is what it is.