And Now, For Your Tax Dollars, Union Consessions, and Re-Org, GM Will Now...

[Gawain 0]

...begin importing cars Made in China.

http://online.wsj.com/article/SB124224047430416183.html#mod=rss_asia_whats_news

I can read the whole thing on my BB, but the link asks for a subscription.

Here's the summary:

GM already makes cars in China for the Asian markets. Beginning 2011, GM plans to start imports from these Chinese plants. They are starting small with incremental increases, 17,000 units, which will double to 38,000 in 2012, and over 50,000 in 2013.

This plan is being devised by President Obama's "auto-industry task force".

Naturally UAW opposes the move, saying it uses tax dollars ($15B in loans) to subsidize US based job losses.

End summary.


Now, we know who is running GM. This is 180 degrees from President Obama's stated opinions, and policy plans about companies out-sourcing their resources at the expense of domestic jobs. 20,000 units is a car line in some circles.

So, UAW, if the GM restructure holds, you'll get a sizable chunk of equity in GM. What will you do about it? You can't strike, it'll kill the bottom line you will hold responsibility for as a direct owner of the company. You can't force a proxy battle, your ownership isn't a majority, and the government will certainly oppose whatever counter initiative you offer with its stake.

Tax payers are screwed - SNAFU.

I can't predict any supplier issues.

Build quality? Maybe within tolerance, but given all the issues coming out of China's manufacturing of everything from dog-food to *pick your product*...

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[warpedskydiver 0]

You will see cars with wonderful names coming out soon.

The chinese made wonhunglow will be a instant hit with the fast and furious crowd.

[happythoughts 0]

This week, where I work, we got a couple of
ex-IBMers. Super-qualified, excellent skills.

This is the basic problem with the Obama show.
Promises without foundation.

There is no linkage between a good education and
job prospects in the US. Obama keeps harping on
the educational system while our current unemployed
are skilled and educated.

IT workers:
US? $35 an hour.
India? $9 an hour.
China? $6 an hour.

Also, IBM isn't going to drop their billable-rate either.
This isn't saving the business-consumer one cent.

My new co-workers are part of the original 5,000 IBM jobs being cut. Another 4,000 to follow by the end of 2009. The jobs are going to China.

However, IBM wants stimulus money.

US citizens pay their taxes and the govt uses that
money against them? By giving it to companies
so that they can hire workers in other countries?

CNN IBM

Quote

(CNN) -- IBM's reported plans to lay off thousands of U.S. workers and outsource many of those jobs to India, even as the company angles for billions in stimulus money, doesn't sit well with employee rights advocates.

Quote

IBM wants a share of the money in President Obama's American Recovery and Reinvestment Act for projects updating power grids, creating electronic health care records and furthering the use of broadband.

"In the research we've done working with the transition team, we know that $30 billion could create 1 million jobs in the next 12 months," IBM CEO Sam Palmisano said in January.

The problem is where those jobs would be, said Ron Hira, a professor of public policy at the Rochester Institute of Technology.