In response to:

The Auto Bailout Failure Is Now Complete

chiesel12 Wrote: Dec 20, 2012 11:15 AM
Did not the Mass media recently report that GM is building a plant in China because of the demand there.
MechEngineer Wrote: Dec 20, 2012 12:35 PM
GM has several plants in China and has the second largest market share, after VW. Ford has plants to and is building 4 more in China and India. That's a good thing! China is now the largest automobile market in the world by volume, and it is critical to their long term survival that GM and Ford have a major presence in those markets. Having large and growing market shares in Asia does not detract from GM's and Ford's domestic business; rather, it complements it, by increasing the volume on global product platforms, spreading product development costs out and allowing suppliers to charge less per part sold, ultimately lowering the cost of cars sold here and/or increasing the profitability of our companies, something we all should want.
AZhot Wrote: Dec 20, 2012 5:16 PM

You may recall that during the presidential election, the Treasury Department refused requests by General Motors to unload the government's stake in the giant automaker.

Taxpayers had sunk $50 billion into a union bailout in 2009 and were now proud owners of 26.5 percent of the struggling company. Reportedly, GM had growing concerns that the stigma of "Government Motors" was hurting sales in the United States. At the time, any transaction would have come at a steep loss to taxpayers and undermined the president's questionable campaign assertions that the auto union rescue had been a huge success.