< HOME  Thursday, September 10, 2009

Wakeup America! - GM sheds US jobs, expands operations in China

I saw this outrageous little article about a week ago, buried in the New York Times, but I was too busy to post it.

After all, Americans have endured and continue to endure insult upon injury by our corrupt goverment and the corporate overlords whom they dutifully serve.

From the 9/11 whitewash to the illegitimate wars in Iraq and Afghanistan, the outrageous $700 billion bailout for bankers, and more recently the slaughter of a public health insurance option at the money grubbing alter of the health insurance lobby...

Multinational corporations and their political lackeys are simply screwing average Americans in more ways than we can possibly count or handle.

So many shafts, so little time...
SHANGHAI (Reuters) - General Motors said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million).

The 50-50 joint venture, based in the northeast China city of Changchun in Jilin province, will make light-duty trucks and vans, GM said in a statement.

"For us in China, this is an important complement to the rest of our portfolio," Kevin Wale, president and managing director for GM's China operations, told reporters in a conference call.

"We are well established in passenger vehicles and mini commercial vehicles and we haven't had a presence in the truck segment. Adding a truck portfolio rounds that out."

The venture will use two existing FAW plants in Changchun and the city of Harbin, also in the northeast, with combined annual capacity of roughly 90,000 vehicles, Wale said.

A greenfield plant, currently under construction in Harbin, will add 100,000 units of capacity by the end of next year, he said.

Vehicles made at the venture will carry the FAW brand and will focus on supplying the China market, but they could be exported under a GM brand through the Detroit automaker's global network in the future, Wale said.

GM is making Buick, Chevrolet and Cadillac models at its flagship China venture with SAIC Motor Corp <600104.ss>. It also makes minivans, pickup trucks and the Spark compact car in a three-way tie-up with SAIC and Liuzhou Wuling Automobile.

SAIC-GM-Wuling sold 87,925 vehicles in July, up 90.7 percent from a year earlier, helped by Beijing's stimulus initiatives to support the industry, including subsidies for buyers in rural areas.

GM, which now holds 34 percent of SAIC-GM-Wuling, has been seeking to raise its stake in the venture.
So, not only is GM hard at work building new factories and increasing its stakehold in manufacturing plants abroad, but also it's influencing foreign governments to subsidize the purchase of its products by another population of domestic chumps in addition to its plans to market its fleet of foreign-made "American cars" to the American market and other chumps around the world.

A truly global 'operation' (scam).

Meanwhile, American workers, who GM considers no longer useful since they (and their government) have already mortgaged the entire nation, are being tossed into the scrap heap of history, along with their health benefits and pension funds, obligations which will never see the light of day again.

Americans must wakeup and face the facts - these bastards won't stop until they're strung by their necks from the gallows.


At Thursday, September 10, 2009, Anonymous Anonymous said...

well, they've got to spend all the loot, before it becomes worthless as the paper it's printed on!

bail out GM with US taxpayer money, so they can go buy slave-factories in China!


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