@[email protected] to NewsEnglish • 3 months agoProspect of low-priced Chinese EVs reaching US from Mexico poses threat to automakersapnews.comexternal-linkmessage-square133fedilinkarrow-up1219arrow-down117 cross-posted to: [email protected]economics
arrow-up1202arrow-down1external-linkProspect of low-priced Chinese EVs reaching US from Mexico poses threat to automakersapnews.com@[email protected] to NewsEnglish • 3 months agomessage-square133fedilink cross-posted to: [email protected]economics
minus-square@afraid_of_zombieslink11•3 months agoJune 11th 2024 GM announced that the board approved a 6 Billion dollar stock buyback plan. That is a direct wealth transfer from the company to the owners. We have met the enemy, and they are us.
minus-square@afraid_of_zombieslink5•3 months agoAnd this is why we will bail them out again. That 9 billion could have been spent on making a low cost EV to compete. It could have been spent as retention bonuses for their best workers. It could have been spent so many things that would secure their future in a changing world.
minus-square@BeMoreCarefullinkEnglish3•3 months agoI think it’s as true for government as it is for corporations. Nobody is the adult in the room.
June 11th 2024 GM announced that the board approved a 6 Billion dollar stock buyback plan.
That is a direct wealth transfer from the company to the owners.
We have met the enemy, and they are us.
The next quarter is the only thing that matters.
And this is why we will bail them out again.
That 9 billion could have been spent on making a low cost EV to compete. It could have been spent as retention bonuses for their best workers. It could have been spent so many things that would secure their future in a changing world.
I think it’s as true for government as it is for corporations. Nobody is the adult in the room.