GM Pays Lavish Bonuses to Workers, Can't Afford to Repay Bailout

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Employees at General Motors are set to receive a profit-sharing bonus worth $4300 thanks to the company earning more than $4 billion in profit for 2010.

That sure is good news for those struggling workers. How will that money be put to use? Paying for their kids to do more fun stuff, of course:

“My money’s going to pay off credit cars and pay for school sports,” Pozniak said. Her three children are in Parma schools, and the district started pay-for-play policies last year to help balance its budget

Meanwhile, the federal government still owns 33% of shares in GM’s stock, and now word from the Obama administration says Uncle Sam will dump the worthless stock and take a loss of some $9 billion. And that doesn’t even touch the billions worth of debt that creditors had to kiss goodbye in bankruptcy court.
I’m waiting for the part where ACORN sends angry protestors to Pozniak’s home. Or is protection one of the perks of working for an auto maker?

The timing of all this sure is hinky. Why, it almost looks like Obama saved GM as a favor to the UAW and couldn’t care less how much it cost the rest of us.
-Candance

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0 responses to “GM Pays Lavish Bonuses to Workers, Can't Afford to Repay Bailout

  1. This is the formula for all the public/private partnerships which Ivy League graduates and Peter Drucker acolytes are always slithering towards. I think if I hear “sustainable development” from one of these globalists again ….oh how they love to make-up polysyllabic words so that the sheeple will be cowed and fall into line!
    Charles Krauthammer wryly observed that Obama had become a combination of king and prime minister. With the national debt, unending and demoralizing wars we are not allowed to win… the whole litany of crimes against Our Creator – we are back in the days of serfdom and fiefdom.
    The best research I know of done on the public/private partnership agenda was done by Joan Veon, who is with the Lord. Her site is still active and has many excellent materials available on it, included articles that can be read directly off the site: womensgroup.org
    Great article Candance!

     
  2. yep, payoff for UAW union buds, nothing more.

     
  3. Just something else for the House repubs to start looking into.
    -Dave

     
    • Dave, I honestly doubt the Repubs will do anything about this since half of them supported bailing out GM in the first place.

       

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