Remember how General Motors became “Government Motors”? Understand that the taxpayers, that’s you and me helped to bailout a company that is worth billions. “Officially” the cost is said to be about $10 billion, but actual costs were over $50 billion. While taxpayers are said to have been paid back by GM in full, I really question that, seeing that even the LA Times reported that American taxpayers lost nearly $10 billion on their bailout. However, having your hand out to America was one thing, but then to go and slap the American taxpayers is quite another. That’s what GM is doing.
GM is now investing $691 million into new plants and expenses in Mexico. Instead of helping the American people the first go around, GM invested $540 million to build a plant in Mexico.
Following that, they shut down the Janesville, Wisconsin plant. By the way, that is the plant that Barack Obama promised would remain open for the next 100 years. Four months following that closing, GM opened a plant in China.
The Mexican GM President Ernest Hernandez said that the move (from America to Mexico by GM) will boost Mexican employment and development.
“The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy,” said Hernandez.
According to GM, they are to open a new plant in Silao and enhance the current facility in San Luis Potosi.
“GM is about to reach 78 years in Mexico and we celebrate it with this new investment, which means more employment and development opportunities for the regions,” said Hernandez.
So, Mexico reaps the benefits of the American taxpayer, courtesy of a formerly American company that rips off the American public and then looks to benefit the Mexican people.