Remember how General Motors became "Government Motors"? Understand that the taxpayers, that's you and me helped to bailout a company that is worth billions. "Officially" the cost is said to be about $10 billion, but actual costs were over $50 billion. While taxpayers are said to have been paid back by GM in full, I really question that, seeing that even the LA Times reported that American taxpayers lost nearly $10 billion on their bailout. However, having your hand out to America was one thing, but then to go and slap the American taxpayers is quite another. That's what GM is doing.
GM is now investing $691 million into new plants and expenses in Mexico. Instead of helping the American people the first go around, GM invested $540 million to build a plant in Mexico.
Following that, they shut down the Janesville, Wisconsin plant. By the way, that is the plant that Barack Obama promised would remain open for the next 100 years. Four months following that closing, GM opened a plant in China.
The Mexican GM President Ernest Hernandez said that the move (from America to Mexico by GM) will boost Mexican employment and development.
"The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy," said Hernandez.
According to GM, they are to open a new plant in Silao and enhance the current facility in San Luis Potosi.
"GM is about to reach 78 years in Mexico and we celebrate it with this new investment, which means more employment and development opportunities for the regions," said Hernandez.
So, Mexico reaps the benefits of the American taxpayer, courtesy of a formerly American company that rips off the American public and then looks to benefit the Mexican people.
In fact, if you are boiling mad over what GM and the Federal government has done, just take into account that Cadillac, a division of General Motors donated an undisclosed amount of money, quite possibly taxpayer money, in order to become "the proud 'chief business partner' of an upcoming film dedicated to the 90th anniversary of the Chinese Communist Party (CCP), which is called Birth of a Party.'"
According to a report, "Made by China Film Group as a kind of prequel to last year's 'Birth of a Republic,' the film bears a title that can be literally translated as 'The Great Achievement of Founding the Party.' It will tell the events leading to the birth of the CCP in 1921 after Russia's October Revolution in 1917."
Now the obvious question is why we as Americans would bailout a company with money nearly twice as much as it is worth ($28 billion) and then stand for this kind of slap in the face. As for me, I've owned several GM vehicles in the past and even currently. The current models are paid for and have been for some time. However, I'll never darken the doors of another GM business again.
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