Posts Tagged ‘General Motors’

Protecting GM Union White House Job 1

November 28, 2010

General Motors Co.‘s recent stock offering was staged to start paying back the government for its $50 billion bailout, but one group made out much better than the taxpayers or other investors: the company’s union.

Thanks to a generous share of GM stock obtained in the company’s 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing.

The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.

Protecting GM union..is White House   job 1

  

Self Imposed Bans Never Work, GM Back To Giving Campaign Contributions

September 23, 2010

General Motors Co. has begun to once again contribute to political campaigns, lifting a self-imposed ban on political spending put in place during the auto maker’s U.S.-financed bankruptcy restructuring last year.

The Detroit company gave $90,500 to candidates running in the current election cycle, Federal Election Commission records show.

The beneficiaries include Midwestern lawmakers, mostly Democrats, who have traditionally supported the industry’s legislative agenda on Capitol Hill, including Sen. Debbie Stabenow (D., Mich.), Sen. Sherrod Brown (D., Ohio) and Rep. John Dingell (D., Mich.).

The list also includes Virginia Rep. Eric Cantor, the House Republican Whip, who would likely assume a top leadership post if Republicans win control of the House in November.

It isn’t unusual for big companies like GM to spend on political campaigns, but complicating GM’s situation is that the company is majority-owned by the U.S. government. Taxpayer dollars used to support more hand picked  politicians.

 

Government Motors Update

March 14, 2010

I hope in the future the Government is as aggressive pursuing recalls issues with GM and Chrysler or they may recall Toyota and Hondas right out of the sales lots and we all could be driving Pontiac “Assteks”.