General Motors...A Success Story and a Good Model
In 2008 everyone all but write-off General Motors (GM). The decibel level hit the roof, with all the voices against it, yet the OBAMA Administration went against the popular opinion and bailed out GM. It was the darkest of times for the Auto-Maker. So let me be clear on my position about the decision to bailout GM and the other American Auto-Makers, it was an AWESOME move.
Nearly 3 years to date, GM has come out of bankruptcy, re-organized, re-tooled, and re-positioned as a powerhouse in the auto-manufacturing industry. It is back on top... with a record-setting IPO, it currently has S50 Billion on hand in liquid cash, created 115,000 jobs, one-third ownership by taxpayers, and making some of the best vehicles in the world these days. Somebody tell me that this is not a success story! I applaud the Obama Administration for Saving our auto-manufacturing base.
And just a note for all my fellow Real Estate Agents across this network and the USA, creating manufacturing jobs in the USA will have a direct impact on our industry. When people are employed...they buy houses, when they get laid off or become unemployed they foreclose on their homes. We need mass employment in this country so that our industry will rebound.
I believe that Unemployment will be the biggest issue for the next 24 - 36 months. Our government has to look at the General Motors' Model and start partnering with private industry to setup infra-structure for the new green economy as a possible way of moving into the future. It is time to start Build and Buy America. It is time to stop all the corporate giveaways in terms of these ridiculous lower tax rate for "job creators." It is time for corporations to realize that they to will have to play a part in building the "New America." If they are unwilling or unable to create jobs and to pay a living wage to workers without getting 'Super-Normal" profits then they can take their business elsewhere.
It is time to start rewarding those companies, willing to invest in AMERICA; those willing to forego super-normal profits. It is time to reform the Corporate Welfare System of America. With taxpayer as minority owner od GM, there is great assurance that GM will continue to be a good corporate citizen moving forward
Comments(3)