30 October 2012 0 Comments

General Motors = Chinese Motors – President Obama’s Bad Investment of Tax Payer Dollars

Let Freedom Ring has 60 minute commercial highlighting how tax payer financed and tax payer owned General Motors is outsourcing not only jobs but American tax dollars to manufacture in China.

  Dan Akeson, General Motors CEO, brags about this Chinese partners. “our commitment to working in China, with China, for China remains strong“.

In fact, President Obama’s investment of American Tax Dollars in General Motors has NOT paid off for The Forgotten Taxpayer.  “President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.” READ MORE 15 August 2012 Forbes Louis Woodhill

 

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