We the People bailed out GM. We also 'quietly' bailed out the UAW at the same time.
So it's only proper that we want to know what we accomplished with our money, since we won't be getting all of it back.
Well, China is one big beneficiary of our largesse, or so it seems. And that doesn't seem like what the big idea was all about at the time of the bailout.
General Motors to Expand China Capacity has the details:
"General Motors Co. plans to expand its China capacity 30% over the next three
years, adding four plants and 6,000 workers, executives said at an event in
The investments will bring GM's manufacturing capacity to five million units
in China, or more than half the number of vehicles GM made globally in 2012.
GM and its joint venture partners will also expand dealerships to 5,100 from
3,800 at the end of 2012.
GM is planning to focus on sport-utility vehicles and luxury models,
introducing 9 new or refreshed SUVs over the next five years.
GM and its joint venture partners are planning to invest $11 billion in
capital expenditures through 2016, said Bob Socia, who runs GM of China.
"Going forward we are focusing on two market segments—luxury and SUV," Mr.
Socia said. "We expect Cadillac sales to go from 30,000 last year to 100,000 in
GM, based in Detroit, is quickly moving its center of power to China. GM and
its partners sold 2.8 million vehicles in 2012, more than the U.S. for the third
Mr. Socia also said GM plans to expand its exports from China to 300,000 by
2015, up from 77,000 in 2013."
So does GM mean General Motors, Generous Motors, Government Motors or Global Motors?
You be the judge.
And while you're adjudicating, why do taxpayers subsidize the efforts of a "private" company to achieve its global goals?
Aren't 'investments' in operations like Solyndra and the U.S. Postal Service enough of a burden already?