Cumberland Times-News

Letters

May 8, 2013

They may be billions of dollars in debt, but they’re still alive

CUMBERLAND — “It’s alive.” said Joe Biden, “thanks to this guy right here.” GM disclosed an $11 billion investment for its joint ventures in China last month in Shanghai. That was an increase from a 2011 outline to spend $7 billion through 2015.

“Welcome to General Tso’s Motors,” said the Wall street Journal. “GM is disproportionately benefiting” from the 2009 U.S.backed bankruptcy reorganization of Detroit.

Thanks, taxpayers! It is expected to create 6,000 new jobs in China. Osama is dead. GM is alive!

General Motors of North America report it has 98,000 of its 207,000 GM jobs worldwide. But 12,000 of these jobs are in Canada and 11,500 are in Mexico.

Accordingly, GM has 74,500 jobs in the United States and 122,500 abroad, even after President Obama’s touted surge in Detroit jobs.

GM plans to spend billion dollar investments in its Mexican plants (versus a $100 million investment in Rochester, New York). GM Mexico employs 11,500 direct and about 90,000 indirect employees in Mexico.

Almost two thirds of GM’s jobs are in other countries. Osama is dead and GM is alive.

Aren’t you glad we have President Obama stopping all that outsourcing and protecting those union jobs?

Where is Mitt Romney? Is he to blame? GM has said it invested $8.5 billion in the U.S. since emerging from bankruptcy. Versus $11 billion altogether in China.

Ally Financial, the former financial arm for General Motors, still owes $14.6 billion of the $17.2 billion in aid it received from the TARP bailout.

Ally and GM together owe more than half of the $37 billion to U.S. taxpayers, according to a recent quarterly report to Congress.

There are no plans to use the $11 billion it’s investing in China to pay it down.

And then there is Chrysler Group LLC an American automobile manufacturer headquartered in Auburn Hills, Michigan but principally owned by majority shareholder Fiat.

Fiat, you may have seen has increased its exports to the U.S. It owns 58 percent of the company. Chrysler still owes nearly $11 billion. It’s alive.

China boasts the longest bridge in the world at Jiaozhou Bay. (Not a Bain Capital idea!)

GM plans to build vehicles in China and ship to the U.S.

 So you can “See the USA in your Chevrolet from JiaozhouBay!”

Lee Brant

Cumberland

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Letters
  • President and Obamacare: Who needs Congress?

    Being a fellow from a small town like Cumberland I don’t always really understand what’s going on in Washington. But I have watched a few houses being built over the years. I even helped some with one house, but my brother fired me from that work pretty quickly, mainly because it was his house being built.

    April 22, 2014

  • Sweet Success Business Forum this evening in Frostburg

    As a member of the Frostburg Business and Professional Association (FBPA), I am pleased to inform the community of the “Sweet Success” event sponsored by the city of Frostburg and our organization.

    April 22, 2014

  • You can help United Way reach its goal

    The United Way of Allegany County campaign for 2013-14 will end April 30 and to date has raised more than $430,000, which is over 86 percent of its goal. But there is still $70,000 to be raised in a very short time.

    April 21, 2014

  • Support the March for Babies May 3 at Canal Place

    At the March of Dimes, we promise to work tirelessly toward the day when all babies are born healthy.
    The March of Dimes has worked for more than 75 years to help babies get a healthy start in life.

    April 20, 2014

  • Celebrate Earth Day every day: Reduce, reuse and recycle

    April 1 marked the beginning of April Envi- ronmental Education Month in Maryland — and with Earth Day coming up on April 22, Maryland has much to celebrate.

    April 20, 2014

  • Support Canal classrooms with tax-deductible gift

    While your April 17 article (“Park Service opens Canal classrooms,” Page 1A) described this exciting program accurately, your readers may be wondering how they can help support this new educational opportunity for school children in Allegany County.

    April 18, 2014

  • Ivan Hall story brings back memories of a unique man

    I enjoyed Mike Sawyers’ Ivan Hall story. It was well written and brought back some wonderful memories of my Cumberland days and especially, an unique man.

    April 18, 2014

  • It’s a secret It’s a secret

    Could someone enlighten us about why not even the names of the two entities bidding on development of the Footer Dye Works building can be divulged?
    A Times-News article about the bids included an explanation from a lawyer for the attorney general’s office about the need to keep the names and other information secret at this time. Despite that, the logic of not divulging at least a little more information escapes us.

    April 17, 2014 1 Photo

  • What do we do about those who weren’t criminals after all?

    Now that Maryland has become the 17th state to (finally) decriminalize possession of marijuana, one could say that the legislature and governor should be patted on the back for doing the right thing.

    April 17, 2014

  • Which approach to the school makes sense?

    What exactly is the long-range plan, according to the Allegany County Commissioners?
    I’ve read in the Cumberland Times-News that the current County Commissioners intend to spend $9 million to construct a new high school.

    April 16, 2014

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