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Thanks For The Bailout Suckers; GM to invest extra $540 million in Mexico to build motors

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posted on Jan, 26 2011 @ 09:25 AM
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Thanks For The Bailout Suckers; GM to invest extra $540 million in Mexico to build motors


redwhitebluenews.com

US giant General Motors will invest $540 million to produce two low-emission motors in central Mexico

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 dollars from the US Treasury and emerged from a bankruptcy res
(visit the link for the full news article)




posted on Jan, 26 2011 @ 09:25 AM
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Who said Americans don't make products anymore?
American companies still do, it's just sometimes the labor is not american!

I've made threads like this before, having to do with companies that used bailout money outside of the U.S., this is 100% absolutely NOT a first.

This is why you do not give bailouts, especially open bailouts without any Stay-In-America clause with high oversight.
But forget that clause, no bailouts period!

Allow bad assets to liquidate, that's why there are bankruptcy laws and someone else could have bought GM too.

The United States of No Accountability!

redwhitebluenews.com
(visit the link for the full news article)


+2 more 
posted on Jan, 26 2011 @ 09:28 AM
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Well ain't that a middle finger to the American taxpayer.

I totally agree with you about a clause to reinvest into the States instead of elsewhere. I wish we could take the money back.

Boycott GM?



posted on Jan, 26 2011 @ 09:36 AM
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Well I can't say that I'm surprised. Being from metro-detroit, I've felt first hand what the effects of this motor car situation was. GM is known to be a bunch of bastards (what US mega-corporation isn't?), and now they continue the trend which had already been started.

I definitely agree, the bailouts are a sack of garbage. I could sure as hell use a bail out myself, to pay for college, which would be a lot less than bailing the banks and autos. Millions of people could use a home, food, medical care. I'm not talking social programs necessarily, but just giving tax money to these rich bastards?!!?! COME ON!!!!

I don't even understand how people even bought the whole bailout handout-a-thon.
It was like, hey, our crappy system of ****ing people over is failing, we need to steal a lot really fast and start over!

People just bent right over and said, yes, please save OUR banks. WE need them.

Thanks a lot American system, you've failed yet again.



posted on Jan, 26 2011 @ 09:42 AM
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Certainly a slap in the face. I just say no to GM products.
Let them fail!

I suppose the cartels now have a new route to smuggle goods into the US via shiny new engine crates.

Why didn't Obama share this good news during last night's speech?



posted on Jan, 26 2011 @ 09:43 AM
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Yup - that's what I see missing from Obama's speech last night, his appointment of the GE CEO to Economic Adviser, etc.

Sure, good things have been said. "We need to start making things here in the US again." "We need to boost exports." "We need to innovate and make hi-tech products."

Ok, yup, I'm just a little, green frog - but I agree with that. However, there is a part missing from it that is not being addressed.

Anything we can make here in the US can be made cheaper abroad and there is nothing to stop any large company from taking advantage of that. That is just simple economics that they would do so.

My two cents is it doesn't matter what we innovate at this point. The jobs around making it will just go off-shore until we either enact something to stop it or look at ways to make it more beneficial for companies to keep jobs in the US.



posted on Jan, 26 2011 @ 09:45 AM
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If the government would have handed every American citizen $100,000.00, it would have done much more to stimulate the economy instead of bailing out GM and the Banks. People would have bought cars and lots of other stuff and the money would not have gone to Mexico. But noooooooooooooooooooo, lets give the money to people who have a proven track record of screwing America to help themselves.

So far all the stimulus money amounts to 11 trillion dollars. There are approx 32 million adults in America. This money could have paid every adult in America $343,750.00. And it would have had better effect.
edit on 1-26-2011 by groingrinder because: (no reason given)



posted on Jan, 26 2011 @ 09:50 AM
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Here's a link from reuters with some additional info. Calderon is ecstatic to say the least.


The move by GM, flush with cash after its 2009 restructuring in bankruptcy, follows other investments in recent years by American, European and Asian automakers seeking to produce more fuel-efficient models in Mexico.



Mexican President Felipe Calderon welcomed the GM news, announced on Thursday, as a vote of confidence in Mexico, where rising drug violence has worried some foreign companies. "This action shows confidence in Mexico and the conviction of one of the most important companies in the world that Mexico is a safe and productive place to invest," Calderon said at an event in the central industrial hub of Toluca, where GM operates one of its five facilities in the country.

GM to Invest

Does this not smack of political undertones? Let alone the smack in the face we keep getting from these people.



posted on Jan, 26 2011 @ 10:00 AM
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Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.



posted on Jan, 26 2011 @ 10:07 AM
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Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.


Perhaps its time for the countless unemployed in the US to head south. Plenty of out of work former GM workers in my neck of the woods. They can share their expertise in milking the time clock and milking break time with the Mexicans. Time to get everyone on an even playing field. With any luck, the Mexicans will soon be unionized and the manufacturing will return to the US and on an on...

Oye! my head hurts.



posted on Jan, 26 2011 @ 10:11 AM
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When the bailout was being discussed in congress in 2008, the American people did contact their representatives and the out cry was great, 98% of the calls were NO BAILOUT ! So many calls to Washington, it shut the switch board down for days.

But our Congress and Senate voted to Bailout anyway, to H… with what the people want… $700 Billion to the FED to do with what ever they want, with no oversight. The FED even REFUSED to tell Congress where the money went. This was QE 1.

We just had QE 2 and the FED didn’t even ask Congress for permission for another $600 billion, just started printing more money.

These actions should be proof enough that WE THE PEOPLE are no longer the United States.



posted on Jan, 26 2011 @ 10:39 AM
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reply to post by ModernAcademia
 


no one msakes anything in the US anymore and their reason is, they want to stay competitive. does not make it right but everyone does it. right now the only companies that should get tax incentives are one that do their manufacturing in the US



posted on Jan, 26 2011 @ 10:43 AM
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reply to post by brokedown
 


We, the people, haven't had a say in what goes on in this nation for quite some time. Its all smoke and mirrors. Its all about maintaining that 'image', that illusion, of freedom. Even some people in the MSN are starting to wonder just what the hell is going on, and some have spoken out. They no longer have jobs at those news 'corporations'. See a pattern here?



posted on Jan, 26 2011 @ 10:45 AM
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Originally posted by jibeho

Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.



We'd have to get over the wall first.
D'oh!



posted on Jan, 26 2011 @ 11:03 AM
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Originally posted by Boreas

Originally posted by jibeho

Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.



We'd have to get over the wall first.
D'oh!
Just hire the "coyotes" to make a return trip. Problem solved.



posted on Jan, 26 2011 @ 11:07 AM
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"They needed only to rise up and shake themselves like a horse shaking off flies"
George Orwell

Seems like it's gonna be a piece of cake implementing all aspects of the NWO in USA. If this doesn't enrage people enough to get out of their couches and start protesting against the government, I have no idea what will.



posted on Jan, 26 2011 @ 11:12 AM
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Originally posted by groingrinder
If the government would have handed every American citizen $100,000.00, it would have done much more to stimulate the economy instead of bailing out GM and the Banks. People would have bought cars and lots of other stuff and the money would not have gone to Mexico. But noooooooooooooooooooo, lets give the money to people who have a proven track record of screwing America to help themselves.

So far all the stimulus money amounts to 11 trillion dollars. There are approx 32 million adults in America. This money could have paid every adult in America $343,750.00. And it would have had better effect.
edit on 1-26-2011 by groingrinder because: (no reason given)


Just wondering but how do you come up with the 11 trillion dollar number?



posted on Jan, 26 2011 @ 11:15 AM
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They are also adding over a thousand jobs in Flint MI . You need to get a little more balance in your reporting.
750 at the truck plant and hundreds at various other plants. My nephew and his wife and her brother start next Monday at a Delphi plant. All 22 years old the future looks bright for them



posted on Jan, 26 2011 @ 11:21 AM
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why mexico?
so the immigrants dont need to go to america to get there money?

so build a wall of money.
and help destroy USA.



posted on Jan, 26 2011 @ 11:56 AM
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while I find gm's management of the bailout to be less than honorable..

they just announced 750 new jobs in flint for a third shift on a truck plant.. in october they also announced a 200 million dollar investment and 600 jobs in lansing.

I am from Canada, and certainly appreciate bolstering the canadian, us and mexican auto sector as we all export and import cars to eachother.

Contrast this with Japan for example..



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