What percentage of the joint venture does GM own?
[May 17, 2011] “In late 2010, General Motors agreed to sponsor a propaganda film celebrating the 90th anniversary of the Chinese Communist Party (CCP). The CCP made film titled (translated to English) “The Birth of a Party” or “The Great Achievement of Founding the Party” is set to premiere all over the Communist nation on June 15 reported China AutoWeb last September. The auto website adds:
“According to an announcement posted on Shanghai GM’s official web site yesterday, whose title reads “joining hands with China Film Group, Cadillac whole-heartedly supports the making of the Birth of a Party...”
The report goes further:
“As the CCP marries totalitarianism with capitalism and fools the people with entertainment, only the “politically correct” or stupid–or those who pretend to be so–can get rich. And GM seems to know this very well. While Audi, Mercedes-Benz, BMW, and Volvo have all rushed to please China’s rich and powerful through physical enlargement (offering models of extended wheelbases), Cadillac gratifies the party orally, singing praises through a film.”
According to the above report, the film will discuss events that led up to the formation of the CCP following the 1917 Russian Revolution. When the movie first went into production GM signed up Cadillac as the “chief business partner” with the Communist Party, stating: “Cadillac whole-heartedly supports the making of the Birth of a Party.”
In fact, an AP article in early May points out, “Chinese TV regulators have reportedly ordered local broadcasters to stay away from spy and crime thrillers as part of a propaganda buildup for the ruling Communist Party’s 90th anniversary July 1.” Stars of the film are reportedly chauffeured around China in the Cadillac SLS in an effort to promote the movie all over the Communist led country.
The United States government currently owns 33% of the GM company following the auto-bailouts of 2009, and GM CEO Daniel Akerson describes China as the “key to [GM’s] success.” (h/t The Detroit Bureau)..........................”