7 October 2012 0 Comments

General Motors – Going from Bad to Worse – Government Failure at Taxpayer Expense

GM is going from bad to worse”,¬† Michael Barone references¬† Automotive News Editor-in-Chief Keith Crain’s analysis (13 August 2012).


Michael Barone makes the points that:

1) GM is profitable in China;

2) GM is losing money in Europe;

3) Malibu and Volt have been failures in the US;

4) The government/The Forgotten Taxpayer is losing $25,000,000,000 on Obama’s Investment;

5) Government allows GM unique write off for past losses against current taxable income;

6) Politically connected UAW got its Socialist Corporatist payoff because of its connections to the Power Elite.

Is this what the Marxist Alinsky Obama Administration has in mind for the rest of American businesses?

“So now I want to say that what we did with the auto industry, we can do in manufacturing across America. Let’s make sure advanced, high-tech manufacturing jobs take root here, not in China. Let’s have them here in Colorado. And that means supporting investment here.”


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