President Obama claims that he’s for “insourcing” and Mitt Romney outsourced jobs. Let’s do a fact check. Let’s look more closely at General Motors, one of President Obama’s alleged successes, our government’s $80 billion bailout of GM (and Chrysler), for which they still owe the American people upwards of $35 billion (US government holds 500 million shares of GM stock).
What, exactly, is GM is doing for the United States of America, having been bailed out by “we the people?” Watch this YouTube video of a February 2011 speech by Daniel Akerson, CEO of General Motors, in Shangai, China, and see for yourself
In that speech he pointed out the following:
1. GM manufactures 7 out of 10 vehicles outside of the USA
2. GM has 11 joint ventures in China with state-owned companies
3. GM has 11 assembly plants and 4 power train plants in China
4. GM is building an “advanced technology center” in China
5. GM sold Nexteer to a Chinese company making the Chinese the largest employer in Saginaw, Michigan.
Where is GM’s commitment to the USA? The above is just a short list of Akerson’s comments. He clearly stated that GM’s future is in China! President Obama, with all due respect to your high-office, the facts are far different from your campaign rhetoric: General Motors is quite engaged in “outsourcing jobs” and has made the Chinese the largest employer in Saginaw, Michigan. Is that what you mean by “insourcing” Mr. President?
© 2012 Steven M. Stroum
About the Author
Steven M. Stroum is a small businessman in Wellesley, Massachusetts who was raised in a working-class family in Auburndale, MA and started his company from a spare room at his parents’ home. Having built his business over the past 35 years, Mr. Stroum has lived the “American Dream” and is a strong advocate for small business, self-development and personal responsibility.