In a strange evolution of the not so free market gone amok. General Motors has gone from a personal goal last year to become the biggest car company in an unsustainable U.S. market to a post bankruptcy, taxpayer owned car company that has said it will shift planned micro car production from China to a plant in the U.S.
The retooled factory will be able to build 160,000 cars per year, GM said. It would create 1,200 jobs, the person said, offsetting some of the 21,000 that will be lost when GM closes the 14 factories by the end of next year.
The move to build the subcompact in the U.S. follows a firestorm caused by GM's plans to produce up to 51,000 subcompacts per year in China and ship them to the U.S. starting in 2011, disclosed in documents submitted to Congress. AP
General Motors was formally planning on taking my tax dollars and producing the car in China. The bright spot in this is that if I am going to pay for stupidity and greed, at least it is going toward building something that resembles a future for the people who are financing it.
Look for a big announcement by GM on Monday as a government deadline looms.
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