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Thread: GM to "restructure" overseas ... using taxpayer dollars

  1. #1
    Vulture of The Western World Eric's Avatar
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    GM to "restructure" overseas ... using taxpayer dollars

    Here is proof that the proposed "bail out" of*General Motors*is just another shibboleth for using the American taxpayer to finance his own economic disfranchisement:*

    GM will be given billions of taxpayer dollars, courtesy of President Obama and his "car czar" - and encouraged to use this money to build new plants (and create new jobs) not here in the USA but in countries like China and Mexico.

    GM's "restructuring plan" - the details of which are just beginning to leak out - projects an increase of almost 10 percent in overseas production (23.5 percent vs. the current 15.5 percent) over the next four years, with more to come later.

    These cars (more than 730,000 of them annually by 2014) will be American-brand cars in name only. They will be built entirely in foreign companies using low-cost foreign labor.

    Only the financing will be "made in the USA."

    Arguably, a Honda built in Ohio by U.S. workers is more domestic than the legions of Chinese-built Buicks that will soon be heading our way.

    United Auto Workers Legislative Director Alan Reuther notes: "The overall number of vehicles GM will be importing in 2014 (under the terms of the restructuring plan) represents the production of four assembly plants, the same number that GM plans to close in the United States."

    The effrontery is startling.

    It's bad enough that whole swaths of our industrial manufacturing infrastructure has already been dismantled and sent overseas in order to leverage the absolute highest possible profit margin out of finished goods - the true cost of which never includes the vanished jobs and decreased buying power of American workers. But it's absolutely egregious that failed multinationals like GM are now demanding handouts in order to force the American worker to directly subsidize the process.

    How, it might be asked, will Americans living on 35-hour no-benefits service sector workweeks at $8 per hour be able to afford the imported Buicks and Chevys whose assembly they'll be forced to help finance?

    Ross Perot's 1990s-era prediction about a "giant sucking sound" - much derided at the time - has become an unmistakable reality. Who has benefitted from the past 20 years of labor arbitrage - the proper name for "free trade"?

    GM is broke because American consumers are broke. And they are broke, to a great extent, because their incomes have been downsized and outsourced on the bloody altar of free trade - arguably the greatest con of the past 50 years.

    There is in fact nothing "free" about "trade" with unfree nations like China - authoritarian gulags where workers are interchangeable drones, easily discarded and desperately willing (and often forced) to pull 12 hour shifts in return for a subsistence income. The profits earned thereby may add another million to a CEO's annual compensation package but serves to further degrade the standard of living of the average American.

    This benefits no one - including, ultimately, even the uber-rich.

    Turning the American working and middle classes into economically ruined peons forced to "compete" with the masses of China, India and Mexico will not bring the quality of life of the average Chinese, Indian or Mexican up to American standards. It will reduce the American standard of living to that of the average Chinese, Indian and Mexican.

    This is what we want? This is what we are being forced by the IRS and the federal government to bankroll?

    Better to let GM die a natural death than to permit the half-dead corpse to sink its yellowed fangs into the neck of the American taxpayer - and worker.

    If GM is not going to invest in America, why should America invest in GM?

    It's a fair question - and one that deserves an answer from both General Motors and President Obama.
    Last edited by Eric; 05-14-2009 at 07:26 AM.

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    Got a link to the original source?

    Chip H.

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    Quote Originally Posted by Eric View Post
    How, it might be asked, will Americans living on 35-hour no-benefits service sector workweeks at $8 per hour be able to afford the imported Buicks and Chevys whose assembly they'll be forced to help finance?

    GM is broke because American consumers are broke. And they are broke, to a great extent, because their incomes have been downsized and outsourced on the bloody altar of free trade - arguably the greatest con of the past 50 years.
    An excellent analysis.

    I see more negative changes. I have lived in Minneapolis for over 30 yrs. There is now a big push for LRT and public transportation. All of this transit is subsidized by tax dollars, the users don't begin to pay even the operating costs. They are also pushing for high density housing near the proposed LRT lines.

    Put the pieces together: No manufacturing jobs, cheap service sector jobs, or cubical jobs, no benefits, mass transit, small high density apartments. Looks more and more like socialism to me. All we need is for the government to take over health care.

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    Ridin Dirty dom's Avatar
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    That is some bullshit. I hope the ships that bring those newly made machines sink. I would not doubt if something like this happens we are going to have some American made terrorist carrying out this exact activity. Nice write-up E-roc.

    "Tutto nello Stato, niente al di fuori dello Stato, nulla contro lo Stato "
    -Mussolini
    All within the state, nothing outside the state, nothing against the state.

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    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by dom View Post
    That is some bullshit. I hope the ships that bring those newly made machines sink. I would not doubt if something like this happens we are going to have some American made terrorist carrying out this exact activity. Nice write-up E-roc.
    Thanks!

    And, screw GM.

    I had a bone to pick with them over their funding of "African Americans on Wheels" but this is a bridge too far for me.

    Bankruptcy is deserved. I just feel bad for all the workers who had nothing to do with it who are going to get screwed.

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    This is just another example of more Globalism that both parties in Washington have given us the last 30 years on instructions from their handlers. It's all done by design. The net result is that the US will eventually be lowered to third world nation status - where nothing is made here and we import everything. We then fall under this wretched "New World Order" where we have no control over our nation and destiny.

    This explains it all:




    ..

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    Quote Originally Posted by Disco Man View Post
    This is just another example of more Globalism that both parties in Washington have given us the last 30 years on instructions from their handlers. It's all done by design.
    See what Paul Craig Roberts says about our power structure.
    It all sounds true to me.
    http://www.counterpunch.org/roberts05142009.html
    Trevor

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    Quote Originally Posted by tcolby View Post
    See what Paul Craig Roberts says about our power structure.
    It all sounds true to me.
    http://www.counterpunch.org/roberts05142009.html
    Paul Craig Roberts is correct in his accessment. The truth of the matter it does not matter what party has power in Washington - both parties are run by the same handlers.

    The worlds power elite will be (secretly) meeting in Greece in the next week at the yearly Bilderberg conference (what most people don't know is that the future of the US dollar and the US country will be discussed and decided on in this secret conference - read the WorldNetDaily link below for more details):

    http://www.worldnetdaily.com/index.p...w&pageId=97135




    ...

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    Yesterday I saw Fritz Henderson (the new CEO of GM) being interviewed by Glenn Beck.

    Fritz is clueless. Most of his answers were "well that's a complicated situation..." But the worst was when he said: "GM got in trouble in 2007 because the balance sheet...." This guy talks nothing of cars. IMO, they are so out of touch they can never come back.

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    Quote Originally Posted by dBrong View Post
    Yesterday I saw Fritz Henderson (the new CEO of GM) being interviewed by Glenn Beck.

    Fritz is clueless. Most of his answers were "well that's a complicated situation..." But the worst was when he said: "GM got in trouble in 2007 because the balance sheet...." This guy talks nothing of cars. IMO, they are so out of touch they can never come back.
    I believe Fritz was picked by the Obama administration since his experience working for GM is in overseas "global" operations. He will send GM jobs here in the US to overseas.

    I truly feel sorry for the many GM workers here in the US who will lose their jobs.

    GM should have listened to the old saying "never make a deal with the devil". The day GM accepted government funds was the day it signed its death certificate.

    Ford was the only US automaker smart enough not to take government bailout money. They will be the only US automaker to survive intact.

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    Quote Originally Posted by dBrong View Post
    Yesterday I saw Fritz Henderson (the new CEO of GM) being interviewed by Glenn Beck.

    Fritz is clueless. Most of his answers were "well that's a complicated situation..." But the worst was when he said: "GM got in trouble in 2007 because the balance sheet...." This guy talks nothing of cars. IMO, they are so out of touch they can never come back.
    I see it this way - GM was going to eventually going to export those jobs overseas, healthy economy or not. Obama and this boob frankly had little to do with that fact. What they could have done, however, since they are taking some amount of "taxpayer" money (which they are veeeerry concerned with taking), is what France is doing: making sure that the jobs stay here in the US.

    If Obama was interested in economic recovery, he would have done the following:

    1. Forced GM to keep plants open in the US and cut overseas imports to this country.
    2. Cut all executive salaries to $1.00 until car sales recover to 2000-2005 levels.
    3. Cut out retirees helthcare except for the very sick.
    4. Placed a moratorium on auto emissions and safety regulation.
    5. Roll back CAFE to 27.5 mpg.

    Those steps would make sense. Obama, the democrats and freeeeee traders will have none of that. Bunch of liars.

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    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by swamprat View Post
    I see it this way - GM was going to eventually going to export those jobs overseas, healthy economy or not. Obama and this boob frankly had little to do with that fact. What they could have done, however, since they are taking some amount of "taxpayer" money (which they are veeeerry concerned with taking), is what France is doing: making sure that the jobs stay here in the US.

    If Obama was interested in economic recovery, he would have done the following:

    1. Forced GM to keep plants open in the US and cut overseas imports to this country.
    2. Cut all executive salaries to $1.00 until car sales recover to 2000-2005 levels.
    3. Cut out retirees helthcare except for the very sick.
    4. Placed a moratorium on auto emissions and safety regulation.
    5. Roll back CAFE to 27.5 mpg.

    Those steps would make sense. Obama, the democrats and freeeeee traders will have none of that. Bunch of liars.
    I agree with all the foregoing except for cutting retiree benefits. That, in my opinion, would be no different than stealing their checking accounts. Those workers hired on, under specific contractual terms, and are owed those benefits. More so because in many cases these are now older/retired people who literally cannot work anymore.

    A guy puts in his 20-30 years, he is entitled to every penny of his bennies. Destroying his retirement/financial security in late middle age/old age is an atrocity that should only happen as a very last resort. Imagine being 60-plus and facing the prospect of having to go get a job at Wal-Mart because GM fucked you out of your retirement/health care benefits.

    There is plenty of money available - provided the grotesquely over-paid management is expected to "share the pain" of cutbacks.
    Last edited by Eric; 05-15-2009 at 01:49 PM.

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    Quote Originally Posted by Eric View Post
    I agree with all the foregoing except for cutting retiree benefits. That, in my opinion, would be no different than stealing their checking accounts. Those workers hired on, under specific contractual terms, and are owed those benefits. More so because in many cases these are now older/retired people who literally cannot work anymore.

    A guy puts in his 20-30 years, he is entitled to every penny of his bennies. Destroying his retirement/financial security in late middle age/old age is an atrocity that should only happen as a very last resort. Imagine being 60-plus and facing the prospect of having to go get a job at Wal-Mart because GM fucked you out of your retirement/health care benefits.

    There is plenty of money available - provided the grotesquely over-paid management is expected to "share the pain" of cutbacks.
    It is pretty bad. Unfortunately, paying those benefits is unsustainable in this economy. There is no way that even if you cut managements salaries by 70 percent, the auto industry would still be in trouble. In a perfect world, we would enact tariffs on foreign cars equivalent to what it costs to keep people's health care and retirement benefits in place. Note that I didn't say strip them of their pensions, but there has to be a way to pay for the healthcare...If you believe the propaganda, it costs $1500-2000 per car for retirement healthcare benefits. Somehow, this needs to be rectified.

    The whole cause of this fiasco is the uneven playing field that has been created by our government in terms of lack of tariff protection, non existent environmental controls in other countries and other factors.

    Of course, if people expected Obama and the Democrats to undo the Republican freeeee trade damage, they are more stupid than I thought.
    Last edited by swamprat; 05-15-2009 at 09:24 PM.

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