Obama outsourced more US jobs.
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But that's the truly funny part.
There were interviewing UAW members that are effectively out of work because of this. Chrysler moved a bunch of UAW workers from a plant that was closing down to this plant to save their jobs. They have only been there 3 weeks when it was announced they were closing the plant and moving the jobs to mexico.
Wonder how pizzed off the UAW is going to be.
There were interviewing UAW members that are effectively out of work because of this. Chrysler moved a bunch of UAW workers from a plant that was closing down to this plant to save their jobs. They have only been there 3 weeks when it was announced they were closing the plant and moving the jobs to mexico.
Wonder how pizzed off the UAW is going to be.
http://online.wsj.com/article/SB124217356836613091.html
Chrysler -- or more accurately, its unionized workers -- may be helped in the short run. But we need to ask how eager lenders will be to offer new credit to General Motors knowing that the value of their investment could be diminished or destroyed by government to enrich a politically favored union. We also need to ask how eager hedge funds will be to participate in the government's Public-Private Investment Program to purchase banks' troubled assets
Chrysler -- or more accurately, its unionized workers -- may be helped in the short run. But we need to ask how eager lenders will be to offer new credit to General Motors knowing that the value of their investment could be diminished or destroyed by government to enrich a politically favored union. We also need to ask how eager hedge funds will be to participate in the government's Public-Private Investment Program to purchase banks' troubled assets
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What was it......200,000 shares of GM offloaded yesterday at $1.42 a share? "No cause for alarm. We have complete faith in out company" Bla Bla
Crazy chit coming my friend! Crazy chit!
Crazy chit coming my friend! Crazy chit!
Does anyone wonder how Ford as a independent will be able to compete against the Government backed GM & Chrysler in the near future?
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I am sure they will be mandated out of business.
I'm hearing something about GM just recently built a new facility in China and will be building cars there for import to the US???? Can anyone confirm?
Heard the same thing. And I believe it was 3 factories moving to China. Obamy is doin the union proud!
we borrowed alot of money from china we gotta pay them back some how,haven't figgered out the mexican deal yet
Gm has been manufacturing in japan for years through strategic partnerships, If they are going to start exporting to the us it will give them tons of economic advantages. I know I would not buy one. Swampy
Reports: GM to export China-built cars to US
9 hours ago
SHANGHAI (AP) — General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than 50,000 by 2014, reports said Wednesday.
A spokeswoman for GM in China did not immediately respond to a request for comment on the reports, which were said to be based on a company recovery plan given to U.S. lawmakers.
GM intends to sell 17,335 made-in-China passenger cars in the U.S. market by 2011, the Shanghai Securities News and other reports said. By 2014 exports would triple to more than 51,000, it said.
The main focus would be on exporting small cars similar to the Chevrolet Spark, the reports said.
If true, GM could end up becoming the first automaker to begin exporting to the U.S. from China: previously announced plans by Chinese manufacturers to crack the U.S. market have so far fizzled.
Most Chinese automakers have been daunted by the challenge of meeting stringent U.S. safety standards. They also face the uphill battle of winning consumer confidence for their unfamiliar brand names.
Brand name recognition is perhaps the least of GM's problems as it faces a June 1 government-imposed deadline to finish a restructuring plan or follow Chrysler LLC into bankruptcy protection.
Opting to export from China would help the company, now surviving on $15.4 billion in federal loans, to slash production costs and make full use of its huge investments in factories here.
But it would likely raise protests from labor unions it has been seeking to win concessions from as part of its restructuring.
The plan also would represent a shift from past strategy. GM officials have long emphasized their commitment to first meeting demand in China before considering exports to the U.S. or other markets.
Reports: GM to export China-built cars to US
9 hours ago
SHANGHAI (AP) — General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than 50,000 by 2014, reports said Wednesday.
A spokeswoman for GM in China did not immediately respond to a request for comment on the reports, which were said to be based on a company recovery plan given to U.S. lawmakers.
GM intends to sell 17,335 made-in-China passenger cars in the U.S. market by 2011, the Shanghai Securities News and other reports said. By 2014 exports would triple to more than 51,000, it said.
The main focus would be on exporting small cars similar to the Chevrolet Spark, the reports said.
If true, GM could end up becoming the first automaker to begin exporting to the U.S. from China: previously announced plans by Chinese manufacturers to crack the U.S. market have so far fizzled.
Most Chinese automakers have been daunted by the challenge of meeting stringent U.S. safety standards. They also face the uphill battle of winning consumer confidence for their unfamiliar brand names.
Brand name recognition is perhaps the least of GM's problems as it faces a June 1 government-imposed deadline to finish a restructuring plan or follow Chrysler LLC into bankruptcy protection.
Opting to export from China would help the company, now surviving on $15.4 billion in federal loans, to slash production costs and make full use of its huge investments in factories here.
But it would likely raise protests from labor unions it has been seeking to win concessions from as part of its restructuring.
The plan also would represent a shift from past strategy. GM officials have long emphasized their commitment to first meeting demand in China before considering exports to the U.S. or other markets.
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Ollie
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I CAN'T wait to see how Obama plans to make this sound like a good thing.
They used the excuse we had to save GM because of the 10's of thousands of jobs that would be lost and yet, 10's of thousands of jobs will still be lost.
Gonna be interesting to see Obama tap dance around that one.
They used the excuse we had to save GM because of the 10's of thousands of jobs that would be lost and yet, 10's of thousands of jobs will still be lost.
Gonna be interesting to see Obama tap dance around that one.
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