Why did the Chinese have to...

[GrinderSS]

go and buy 18% of the stocks offered in GM's IPO? Now we have an American company that has the following ownership:

45% American government
13% UAW
7% Canadian government
1% Chinese government
10% Former bond holders
24% Private investors

So, I have a question. How does the UAW reconcile the chi-coms owning a major stake in their company when chi-com labor is responsible for so many of their members being unemployed? Clearly the UAW leadership doesn't care about the American and Canadian men and women that makeup it's membership. The UAW seems complicit in reducing the American automotive industry workforce.

[Iwantone2]

[montreal2010yellow]

Money talk....that all there is for those Big Shots

[Big Brunsy]

[Number 3]

It's a global economy. GM in China is a a JV with SAIC. GMs presence in India is a JV with SAIC. So now they now own 1% of GM. This is hardly worth a mention.

[The_Blur]

If you want to buy a stake in a publicly traded company, you can. No one cares where you live.

If this thread goes political, it's getting closed. Be nice in here, everyone.

[Morepwr]

I dont see a problem with it when you consider how huge the market is for GM in china. I would be unhappy if they owned the majority of the shares though!

[GrinderSS]

Originally Posted by Number 3

It's a global economy. GM in China is a a JV with SAIC. GMs presence in India is a JV with SAIC. So now they now own 1% of GM. This is hardly worth a mention.

Clearly it's a global economy, America has made it such by outsourcing so much work to developing countries, which is the crux of my question how can the UAW reconcile that with the interests of it's membership? Something tells me the UAW leadership doesn't give a hoot as long as they get their loot.

I personally have no problem with China owning part of GM; it's a huge business opportunity. I've been to Shanghai twice and was absolutely shocked at the number of Buick's and Chevrolet's on the roads. The Chinese people love American cars, the problem is the communist government makes it nearly impossible for the average citizen to buy a car. They impose a 35% "fee" on the purchase of a car, which is in addition to sales taxes and licenses.

[Cmicasa the Great XvX]

Originally Posted by GrinderSS

go and buy 18% of the stocks offered in GM's IPO? Now we have an American company that has the following ownership:

45% American government
13% UAW
7% Canadian government
1% Chinese government
10% Former bond holders
24% Private investors

So, I have a question. How does the UAW reconcile the chi-coms owning a major stake in their company when chi-com labor is responsible for so many of their members being unemployed? Clearly the UAW leadership doesn't care about the American and Canadian men and women that makeup it's membership. The UAW seems complicit in reducing the American automotive industry workforce.

First... am I missing something in your math?? How does 1% =18%

Second... The UAW does not own a percentage of GM.. the UAW's Retirement Fund does.

Third... SAIC is a Public company.. and GM could certainly buy into them, but they already have several Joint Ventures with them.GM has controlling interest or equal partnership in all of these ventures.

Personally I think people get way to worked up about the CHINESE. They are 1.3 Billion with only about 670,000 Households considered Millionaires.

By contrast the United States has 306 Million people.. with 4,715,000 Household Millionaires...

If we wanted to buy up all industry in America we certainly could.. Instead.. we support Foreign companies like they are American.

[GrinderSS]

Originally Posted by Cmicasa the Great XvX

First... am I missing something in your math?? How does 1% =18%

Second... The UAW does not own a percentage of GM.. the UAW's Retirement Fund does.

Third... SAIC is a Public company.. and GM could certainly buy into them, but they already have several Joint Ventures with them.GM has controlling interest or equal partnership in all of these ventures.

Personally I think people get way to worked up about the CHINESE. They are 1.3 Billion with only about 670,000 Households considered Millionaires.

By contrast the United States has 306 Million people.. with 4,715,000 Household Millionaires...

If we wanted to buy up all industry in America we certainly could.. Instead.. we support Foreign companies like they are American.

Read my statement carefully...SAIC bought 18% of the stock offered in the IPO which equates to 1% ownership of all GM stock.

If you think any Chinese company is not ultimately controlled by the Chi-com government then I have a bridge in Brooklyn to sell you.

What does the relative number of American and Chinese wealthy people have to do with anything? If you're using those stats to minimize the economic strength of China, you're misguided and comparing apples to oranges. The Chi-com government controls the wealth in that country, the majority of it does not make it's way to the common Chinese citizen. As such, the chi-com government has used that wealth (earned on the backs of it's perpetually poor citizens) invested immensely in its military and is broadening it's international economic influence.

[Fraxum]

Don't worry, the Chinese will lose their shirts.

[King Sun]

I swear when some of you dudes I think about this

[srb8]

The future of GM is China. They know that the Chinese market for cars is bigger than ours, due to the simple math of China having 1.5 billion people. They will buy more cars than us period.

[larryt1026]

Originally Posted by GrinderSS

go and buy 18% of the stocks offered in GM's IPO? Now we have an American company that has the following ownership:

45% American government
13% UAW
7% Canadian government
1% Chinese government
10% Former bond holders
24% Private investors

So, I have a question. How does the UAW reconcile the chi-coms owning a major stake in their company when chi-com labor is responsible for so many of their members being unemployed? Clearly the UAW leadership doesn't care about the American and Canadian men and women that makeup it's membership. The UAW seems complicit in reducing the American automotive industry workforce.

First, saying that the UAW leadership doesn't care about the workforce is erroneous since GM is a publicly traded company and therefore anyone can own their stock. Secondly I think 1% is hardly worth mentioning. Lastly, don't blame the chi-com labor for stealing jobs from the American men and women. It is clearly not their fault that companies choose to save money by outsourcing to China to pay their CEOs ridiculous paychecks and severance packages.