General Motors Corp. has plans to sell Chinese-made cars in the United States two years from now, making it the first major automaker to import vehicles from China into the U.S., according to a report by Automotive News. The auto industry trade publication cited a document it obtained that GM (NYSE: GM) has been circulating among lawmakers. It said GM would look to sell more than 17,000 vehicles made in China to American consumers in 2011, and boost that to more than 51,000 by 2014. The United Auto Workers have been critical of GM for wanting to sell cars made overseas, particularly at a time when it is taking taxpayer money.
That's not so different from Nike, is it? Headquartered in Oregon, Nike uses cheap overseas labor to make shoes. RCA headquarters is in New York, but they don't make TVs in America anymore... so now goes the American auto industry... where taxes and the cost of labor are low, there jobs flow.
Update: East Chicago, Indiana based ArcelorMittal Steel laying off nearly 1000 workers this summer. ArcelorMittal is the world's largest steel maker and is based in Luxembourg, Belgium.
I'm telling you, reading the news is little different from reading Atlas Shrugged these days.
Update: Intel socked with $1.45Billion fine by European Union... you see, when taxes dry up, the government can just fine successful businesses to make up the difference.
Update: Obama eyes Google as a monopoly. Please, I thought the President was Internet savvy... Google is no a monopoly at all, there are plenty of search engines. What Google has is a good product and like all good products, like Intel, Google has money and the government wants it and the little guys want to knock down the big guys.
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