After the Bailout: GM to Increase Foreign Production

I thought the idea of pouring billions of dollars down the various corporate rat-holes had a point, and that this point was to save the economy by making sure that these huge corporations remained in business. By doing that, the logic follows, many thousands of American jobs would be saved, thus saving the US economy and bringing back prosperity to all and sundry. Maybe the folks at General Motors missed that memo. According to Peter Whoriskey, a Washington Post Staff Writer, a document that General Motors has been quietly circulating on Capital Hill details how the number of cars that GM sells in the United States and builds in Mexico, China and South Korea will roughly double. “The proportion of GM cars sold domestically and manufactured in those low-wage countries will rise from 15% to 23% over the next five years, according to the figures contained in a 12-page presentation offered to lawmakers in response to their questions about overseas production.” This is go... [Read Full Article]