GM Bites the Hand That Feeds It [OPINION]
General Motors is restructuring, which means several North American plants will cease operations and more than 14,000 workers will lose their jobs.
GM is eliminating some of its smaller and midsize cars, because with relatively cheap gas prices again, consumers are buying SUV's, trucks, and vans. The high-priced electric Chevy Volt, for which GM received tons in government subsidies under the Obama Administration, was a bomb and is also being phased out, as is the other GM disaster, the Chevy Cruze.
By the way, GM is turning a profit, and there is no evidence that higher tariffs are in anyway impacting those profits.
General Motors was on its last legs in 2009 when the Obama Administration used taxpayer money to bail it out. The company continues to receive government subsidies under the bailout agreement. But, that may stop.
This is a slap in the face to taxpayers who kept this company afloat through a questionable government bailout. Restructuring should have been done years ago, and perhaps GM's financial problems would not have become the problems of the American people. GM needs to quickly refocus its reorganization plans in a way that does not benefit Chinese and Mexican workers at the expense of American workers.
In other words: don't bite the hand that feeds you.
Ken Pittman is the host of The Ken Pittman Show on 1420 WBSM New Bedford. He can be heard Saturdays from 9 a.m. to noon. Contact him at email@example.com and follow him on Twitter @RadioKenPittman. The opinions expressed in this commentary are solely those of the author.