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Well isn't this special

Discussion in 'Political Zone' started by Cajuncowboy, Sep 1, 2009.

  1. Cajuncowboy

    Cajuncowboy Preacher From The Black Lagoon

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    Obama cuts deal with Communist China.

    http://www.reuters.com/article/newsOne/idUSTRE57T0IV20090830

    Since Obama is running GM now, why doesn't this surprise me?

    Wake up people!


    GM to form China venture, invest $293 million

    SHANGHAI (Reuters) - General Motors said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million).

    The 50-50 joint venture, based in the northeast China city of Changchun in Jilin province, will make light-duty trucks and vans, GM said in a statement.

    "For us in China, this is an important complement to the rest of our portfolio," Kevin Wale, president and managing director for GM's China operations, told reporters in a conference call.

    "We are well established in passenger vehicles and mini commercial vehicles and we haven't had a presence in the truck segment. Adding a truck portfolio rounds that out."

    The venture will use two existing FAW plants in Changchun and the city of Harbin, also in the northeast, with combined annual capacity of roughly 90,000 vehicles, Wale said.

    A greenfield plant, currently under construction in Harbin, will add 100,000 units of capacity by the end of next year, he said.

    Vehicles made at the venture will carry the FAW brand and will focus on supplying the China market, but they could be exported under a GM brand through the Detroit automaker's global network in the future, Wale said.

    GM is making Buick, Chevrolet and Cadillac models at its flagship China venture with SAIC Motor Corp. It also makes minivans, pickup trucks and the Spark compact car in a three-way tie-up with SAIC and Liuzhou Wuling Automobile.

    SAIC-GM-Wuling sold 87,925 vehicles in July, up 90.7 percent from a year earlier, helped by Beijing's stimulus initiatives to support the industry, including subsidies for buyers in rural areas.

    GM, which now holds 34 percent of SAIC-GM-Wuling, has been seeking to raise its stake in the venture.

    Domestic media reported earlier this month that GM had secured an initial deal to take over Liuzhou Wuling Auto's 15.9 percent stake for roughly 300 million yuan ($43.9 million).

    Wale reiterated the U.S. automaker's interest in raising its stake in the venture but made no further comment on the issue.
  2. CliffnMesquite

    CliffnMesquite Well-Known Member

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    See the PRC in your Chevrolet...
  3. Wheat

    Wheat Philosopher

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    All part of the plan to start taking over China.

    Get them hooked on our goods and services. Then take them away, leaving them with a fleet of GM cars and soon to follow other products which stop working.

    Brilliant!
  4. CliffnMesquite

    CliffnMesquite Well-Known Member

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    Then China could have a Crash for crunkers program.
  5. JBond

    JBond Well-Known Member

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    Has Government Motors paid back the American people yet? I would think that should be a priority.
  6. Wheat

    Wheat Philosopher

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    That got me laughing out loud.
  7. Wheat

    Wheat Philosopher

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    I did read yesterday that some Banks started paying the Feds back for bailouts to the tune of a 4 Billion Dollar profit. Though if the GM and a few other banks don't. It would still be a loss.

    However, kind of surprised that money is coming back in already after only 6-8 months.
  8. DIAF

    DIAF DivaLover159

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    Uhm, I don't know how to tell you this Cajun, but pretty much any major american firm has operations in China. China is the largest automobile market in the world, and even with the recent global downturn, is full of newly-monied chinese who are itching to buy cars. It would be stupid of GM to NOT look to expand their presence into that market. To you know, make money. To you know, PAY BACK the American people.

    Some of you complain loudly on the one hand "YOU OWE THE AMERICAN PEOPLE BILLIONS OF DOLLARS" but on the other hand, complain about investing in the world's LARGEST MARKET to actually DO that which you demand. Cajun and JBond, don't both of you own your own business? I figured that out of all the people on this board, you two should realize this.
  9. Cajuncowboy

    Cajuncowboy Preacher From The Black Lagoon

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    Why am I surprised you would defend this??? We have mass layoffs here and they are spending the money to put the Chinese to work.

    As a business person, I have a responsibility to do what's right for my business, yes. But I also have a responsibility to anyone who has helped me along the way. And if I got a government bailout, I would want to at least concentrate on putting the AMERICAN people back to work.

    Keep sucking up the obama kool aid.
  10. DIAF

    DIAF DivaLover159

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    I defend it because I'm not an idiot.

    I'm sorry, but how is the car market these days here in the US? The government had to friggin' give everyone 4500 bucks to get inventory to move. What good would putting Americans back to work producing automobiles in this downturn do? To make more cars so they can sit on lots? The automobile industry has slashed thousands of jobs and shuttered dozens of plants in the last several years because THEY. CANT. SELL. CARS. And you want GM to invest it's money HERE in THIS market? Instead of a HUGE, HEALTHIER chinese market? Wow. You can't be this dumb. I can only assume that you actually WANT GM to fail because the government has such a large stake in it now, but you won't just come out and say it.
  11. CowboyWay

    CowboyWay If Coach would have put me in, we'd a won State

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    Now that there's funny, I don't care who you are.
  12. JBond

    JBond Well-Known Member

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    Valid points. I was just wondering if they have paid us back anything. Government Motors first priority should be to the American people who were forced to bail them out. If that means they build tons of stuff in China to do it, so be it, but those profits better be returned to their rightful owners.
  13. TheRat

    TheRat The Silly Willy

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    This is so ignorant on so many levels. Firstly GM's executives are the ones who makes these sorts of decision. Obama has no input into this decision. Secondly, what about this guy:
    [IMG]
  14. Cajuncowboy

    Cajuncowboy Preacher From The Black Lagoon

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    The fact you are posting is absurd, however, who put the execs in charge? Who has control of GM? If you think obama has no input in this you are flat out bat**** crazy.

    Oh and how is Nixon shaking hands with a communist putting Chinese to work when his own people need the jobs?
  15. vta

    vta The Proletariat

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    :laugh2:

    I wonder if there is a statute of limitations on the number of dead guys you can use to legitimize your current politicians follies.
  16. JBond

    JBond Well-Known Member

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    Have you forgotten already who hires and fires the folks at GM if they do not do their masters bidding? Obama. You are completely clueless. What is it like to live in a world of ignorance devoid of rational thought?
  17. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    I think the majority of us that post in here should know...because we post in here so much.:laugh2:
  18. JBond

    JBond Well-Known Member

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    No joke. It does feel that way some days. Good thing Rat is back.
  19. TheRat

    TheRat The Silly Willy

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    I think posting all of these crazy conservative conspiracy theories is bat**** crazy, like Obama runs GM. That is just idiotic.
  20. DIAF

    DIAF DivaLover159

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    Obama may be able to ask for a CEO's resignation, but the notion that he is the one running GM day-to-day and is approving/brokering these deals is completely ridiculous.

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