Skip to comments.Thanks For The Bailout Suckers; GM to invest extra $540 million in Mexico to build motors
Posted on 05/19/2011 12:46:02 PM PDT by La Lydia
US giant General Motors will invest $540 million to produce two low-emission motors in central Mexico, the company announced here Thursday, accompanied by President Felipe Calderon. The latest project for GM in Mexico would create 500 direct and another 500 indirect jobs in its plant in Toluca, Calderon said. GM has four plants in Mexico, and has invested some $5 billion here since 2006, Calderon said.
GM was left reeling by an industry slump when the global economic crisis hit. It received $49.5 billion from the US Treasury and emerged from a bankruptcy restructuring in 2009. It successfully returned to public trading last November by raising $23.1 billion in an initial stock offering the largest in history.
Why doesn’t GM invest that money in plants here? Barack frequently talks about building up our manufacturing and creating jobs here in America. Considering that Barack controls this company, why does he allow GM to invest in Mexico instead? Just asking.
Brilliant! The retired GM workers get to keep their pensions (screw the former bond holders) AND GM makes billions in Mexico and pays no taxes.
I thought Crony Capitalism was a Republican problem.
I hope this will offend GM’s few remaining supporters enough that everyone boycotts this company. GM needs to die for their crimes against the rightful claimants who were stiffed in the bailout. Contract law, bankruptcy law, and centuries of common law should have been respected, and they weren’t. I am boycotting GM forever, and I hope this stunt will convince others to join me.
I don’t understand the problem. GM is simply doing what every other multinational has been doing for decades, screw the U.S. Whey would we expect any different?
I too am boycotting GM forever, that is until the end of the world on May 21, 2011. After that I’m planning on purchasing a set of wings.
Because the union labor is too expensive to pay for up here, so the sole purpose is to pay for UAW pensions and benefits, which using a real business model, clearly inidcates they want to make money by using cheap Mexican labor with no environmental regulations.
Lib logic. Scream of outsoucing and then have your Marxist Muslim send US dollars to help Mexico and kill American jobs.
Ain’t Zero and the Dems great!
Obama wants to redistribute our wealth globally. I dont think the many Obama voters get that he means from them also.
“I too am boycotting GM forever, that is until the end of the world on May 21, 2011. “
Any idea what time? I don’t want to miss it.
BO and his battalion of nit-pickers in the EPA are trying to shut down all oil and gas production in the USA, while Government Motors builds cars in Mexico, where there are no meaningful environmental laws.
You’d think that the Leftists in the Sierra Club, Nature Conservancy, Audubon Society, National Wildlife Federation, Green Peace, etc. etc. would notice, but nary a peep out of these hypocrites when a fellow traveler is in office.
I think the wings are complimentary.
Only if you were good.
For the bad, “Wings sold separately,” I suppose.
Time to buy REAL American cars!
Toyota-Made in Kentucky
Nissan-Made in Tennessee
BMW-Some Models made in South Carolina
Honda-Made in Ohio
Face it, many of the so-called foreign car companies have their cars made here in America!
In terms of moving jobs to a cheaper workforce, that's between the willing buyer and the willing seller in a free market, and as a consumer I sometimes have an issue with moving those jobs (and sometimes I don't). In terms of using the force of "law" to steal massive amounts of money from those who had rightful claims to the old GM's assets and to distribute that money to supporters of Pelosi, Obama, and the other socialists (or of any other corrupt politicians of either party), I have a huge problem with that criminal enterprise. GM and its bought and paid for crooks in office committed a capital crime, and the new GM must die for that offense. There is no forgiveness for corporate corruption at that level, which is different from the typical multinational indifference.
No one gives an exact time. I hope I don’t sleep through it. I’d hate to wake up dead.
Is the NLRB too busy harassing Boeing to bother with this?
“By the way, thanks for the fish”.
It just doesn’t stop with this guy.
At least with crony capitalism there is still trade going on. This is a black hole for tax money.
GE closes plant that makes incandescent light bulbs here laying off 35,000 and opens plant in China creating 45,000 jobs. Meanwhile Boeing wants to open a plant in a right to work state employing 2000 and zero and his criminals say no you cant. CAN ANYONE PLEASE TELL ME WHY WE ARE NOT CLOSING DOWN DC AND DEMAND A REGIME CHANGE?