From Bloomberg:
“General Motors Co. plans to invest $1.2 billion in Mexico this year to 2011, the nation’s Economy Ministry said today in an e-mailed statement.”
There are no more specifics yet, and I haven’t gotten my hands on the emailed statement, but this certainly could be your tax dollars are creating jobs south of the border while GM lays off American workers.
This gets us back to the problem of government ownership of companies. GM needs to seek profit, and offshoring U.S. jobs is a good way to cut costs. But this is taxpayer-subsidized offshoring.
There are no good answers here, as with GM’s lobbying and public relations spending.
[update: here’s a similar story from another Bloomberg story:
General Motors Co. and Ford Motor Co. lobbied President Barack Obama to exempt tires for new cars from proposed tariffs on Chinese imports, a request the United Steelworkers union president called “offensive.”]
