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While Obama Campaigns Against Chinese Auto Subsidies, U.S. Treasury Won't Sell GM Stock

Hambone763 Wrote: Sep 17, 2012 4:38 PM
More form The Too Big To Fail GM bail out. From the Huff Post no less Why is GM sending Jobs overseas, Mr President? Obama. you're a Tool.
Joe40 Wrote: Sep 17, 2012 6:27 PM
That wher GM demand is; overseas. Meanwhile, here in the US, they tried ever so hard to stick us with those Volts that virtually no one wants to buy. The only success GM had with the Volt is with government fleet sales, not with the larger consumer base. So, because of UAW work orders, GM is taking a bath, losing $49k per unit on cars they can't sell.

Making matters worse, GM can't get the government to sell those shares, so they can get out from the gov. imposed salary caps, to hire people to design cars that people WILL buy. Eventually, the government will rid itself of the GM stock, but don't look for it to happen until after the presidential election.

Today, President Obama heads to Ohio and, in a push for manufacturing votes, he will hit China for subsidizing its auto industry and giving it an unfair trade advantage. It's a fairly standard campaign strategy, appealing to the Rust Belt by talking up American Made and attacking foriegn trade manipulation. Reuters reports:

The new U.S. case filed at the World Trade Organization targets what Washington said were "extensive subsidies" to Chinese auto and auto-parts producers located in designated regions, known as export bases.

"Those subsidies directly harm working men and women on the assembly line in...