The mammoth taxpayer-funded bailout of General Motors at the start of President Obama’s first term was a slap in the face to the many other companies and businesses that were struggling financially. While there are those who say that it helped the auto industry survive, it also prevented the overextended GM corporation from declaring bankruptcy and restructuring to shed itself of unreasonable union rules and personnel and hoary labor regulations. And the U.S. corporate tax structure, highest in the developed world, ensured that continuing to do business in the U.S. would be difficult, at best.
The claim now is that GM paid the loan back and all is right again. But that is an overstatement of gigantic magnitude. The bailout was a huge giveaway to organized labor which now owns a significant portion of the company, and the coming release of the Buick Envision, a luxury crossover vehicle in summer of 2016, is sure to have many politicians and workers crying “foul” and demanding a replay.
Why Envision is a problem, page 2:
Simple solution to this problem ………… Don’t by any Buick product
Shame shame
Stop accusing the auto companies of taking a bailout. The banks got a bail out. The auto industry were given loans, which have been paid back. That isn’t a bail out….
David Spiegelglass! If WE are the ones bailing their sorry a$$e$ out!!! Then the jobs should be here!! PERIOD!! And shove your half empty glass!!
I wonder how many people in Detroit voted for Obama, how many UAW members voted for Obama!! Well this is their pay back!!
NO more GM cars for me.
such vitriol over a grossly biased article… try reading the whole thing, not just the headline.
It was a UNION bail out.
because china’s people work for less THE U.S. PEOPLE want more wages and then that brings the prices to high for the average people to buy?
How many people did they bring from India to fill those tech jobs?