GM CEO Barack Obama seems determined to wreck what’s left of the auto maker. Consider “Economics Wasn’t GM’s Only Criteria for New Plant” from today’s Wall Street Journal:
When it was deciding where to build its new compact car, General Motors Corp. made a point of saying it would push politics aside and use strictly commercial criteria.
So Tennessee’s three top officials were astonished last month, in a meeting with GM, when they were told the first two criteria were “community impact” and “carbon footprint” — or how the choice would affect unemployment rates and carbon-dioxide emissions.
“Those didn’t strike us as business criteria at all,” said Tennessee Sen. Lamar Alexander, who was joined in the meeting by fellow Republican Sen. Bob Corker and the state’s Democratic governor, Phil Bredesen. Those factors, Mr. Alexander said, “seemed odd for a company struggling to get back on its feet.”…
… The federal government’s outsize role in the new GM has already raised concerns about the mixing of politics and commerce. Lawmakers, such as Rep. Barney Frank (D-Mass.), chairman of the powerful House Financial Services Committee, have squeezed GM to reject plant closures in their districts. Obama administration officials have prodded the car giant to develop smaller, more fuel-efficient cars.
The Obama administration is hoping for a public offering of stock in the new GM next year. LOL!