General Motors Thanks The American Public for Saving The Company
In case you haven’t seen it, or saw it in passing during the onslaught of football games and parades today, this is quite an expression of Thanksgiving.
It’s unprecedented, but the company thanks Americans for bailing it out, even when a rather vocal bunch of Baggers and Republicans and Blue Dogs wanted President Obama and Congress not to spend any more money.
That help has allowed GM to raise itself from the near-dead and from joining the departed ranks of American businesses.
Now, I objected to the banksters and the gangsters who have gained record profits during this last quarter getting anything from Congress and from the President. Some of these greedheads deserved to go under. Thousands of workers, on the other hand, stood to lose their jobs; but GM went into bankruptcy reorganization, sold off its least profitable assets, and closed or slashed its dealerships as well as some of its assembly plants, such as the one in Janesville, WI. The result is a sleeker, leaner and I hope wiser General Motors. By mid-November, the automaker ventured to sell public shares on the Stock Exchange once more.
GM, through Chrysler, has decided to reinvest in some of its closed plants, as in Kokomo, Indiana and in Flint, Michigan (Michael Moore’s home town) and Bay City, Michigan. The Janesville plant, however, remains closed, and the depression is still on in the one-industry city. The media has consistently raised questions as to whether GM is considering reopening the plant, and dashed hopes.
I don’t blame GM for being cautious. They don’t want to screw up again, and not in this tenuous financial climate when another bailout would be nigh on impossible. Something else is going to have to come into the lives of Janesville residents, and not just GM when and if it decides to reopen the plant–or sell it off.
However, I do appreciate this rather poignant reciprocity on the part of an American company. A company that once hired Mafia goons, police and Pinkertons to break up nascent unions, and later lawyers and public relations agencies to get the upper hand on contract negotiations. I’m sure the public is far different from the workers–in the eyes of management. The public are consumers–and taxpayers. (So are the workers, be they black, white, Latino or whatever; they loyally bought GM cars as well, but that isn’t considered.) The public bailed out GM, and both they and the company, it appears, have won.
The workers have yet to win. That won’t come as fast as GM’s recovery.
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~ by blksista on November 25, 2010.
Posted in American History, American Politics, Bailouts, Black People, Class, Commercials, Consumerism, Cultural History, Democrats in Name Only, Education, National Issues, Obama Administration, Television, The Economy, The Mainstream Media (MSM), The Tea Party Movement
Tags: American Business, Assembly Plants, Baggers, Banksters, Bay City Michigan, Blue Dog Democrats, Chevrolet Cruze, Chevrolet Volt, Flint Michigan, Football, Gangsters, General Motors, Janesville WI, Kokomo Indiana, Lawyers, Mafia Goons, Parades, Pinkerton Agents, Public Relations Agencies, Republicans, Share (finance), Thanksgiving, The New York Stock Exchange, United States
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