UAW is going to LOVE this.

[gsvol]

Obama is giving $5 billion to GM to 'restructure'.

GM is going to 'restucture' in China!!

 

[KB5252]

Obama is giving $5 billion to GM to 'restructure'.

GM is going to 'restucture' in China!!

This should be good! Isn't this exactly the kind of thing Obama said he was going to stop, first we give them bail out money, then they repay the American people by building a new plant overseas? See union workers you have been slitting your own neck for years, now you will bleed out.

 

[Rasputin_Vol]

GM will keep its “most profitable” Buick brand, Reilly said. The carmaker is trying to sell or close Saturn, Hummer and Saab out of its eight brands.

It’s also studying plans to drop Pontiac and GMC as part of its broader cost-cutting moves, people familiar with the discussions have said. The Chevrolet, Cadillac and Buick brands are likely safe, said the people last week, asking not to be named because decisions aren’t final.

.

 

[gsvol]

This should be good! Isn't this exactly the kind of thing Obama said he was going to stop, first we give them bail out money, then they repay the American people by building a new plant overseas? See union workers you have been slitting your own neck for years, now you will bleed out.

Next up betraying the African American voter.

"You can't blame it on the Bush administration anymore," said John Boyd, head of the National Black Farmers Association, which has organized the lawsuits. "I can't figure out for the life of me why the president wouldn't want to implement a bill that he fought for as a U.S. senator."

Meanwhile back at the ranch house, it looks like the American taxpayer will be saddled with paying off UAW health benefits and pensions.

The Treasury has an agreement in principle with the United Automobile Workers union, whose members’ pensions and retiree health care benefits would be protected as a condition of the bankruptcy filing, ......

The U.A.W., Chrysler and Treasury have reached agreements in principle that would protect workers’ benefits, people with knowledge of the negotiations said, and a similar agreement is expected to be reached as soon as this weekend with the Canadian Auto Workers union.

Chrysler has a $9.3 billion pension shortfall, or 34 percent of its total liability, according to the Pension Benefit Guaranty Corporation. The agency said earlier this month that it would assume $2 billion of the shortfall in the event Chrysler terminates its pension plans.

Nice to know if Barry's plans continue my grandchildren will be paying retirement benefits for Canadian workers who have been over paid to begin with.

This reminds me of a story from an entertainer, song writer friend of mine who once go a visit from the FBI because he had answered yes to a question on a form; "have you or any of your ancestors advocated for the overthrow of the government of the United States."

When the FBI asked him to elaborate he said; "My great grand dad was Sitting Bull, he was very much for the overthrow of the government."