OBAMAnomics: Government still wasting 'tens of billions' each year - Washington Times

Audit: Government still wasting 'tens of billions' each year - Washington Times


THIS IS OBAMA’S REAL BAILOUT OF
G.M.:
“The record profits owe
largely to the cuts imposed on auto workers in the United States and Canada,
under the auspices of the United Auto Workers and Canadian Auto Workers unions,
including a new starting wage of barely $14 an hour, half the basic wage for
longtime workers, and cuts in health benefits, pensions and health care for
retirees.”
GM posts record profits, prepares
more cuts
By Patrick Martin
18 February 2012
General
Motors reported a record $7.6 billion profit for 2011 Thursday, but the largest
US automaker made clear that it would continue to pursue cuts in jobs, wages
and benefits for its worldwide workforce, with the direct assistance of the
United Auto Workers.
It
was the eighth consecutive quarterly profit for the company since its forced
bankruptcy in 2009, but the smallest during that period, a signal that further
cost-cutting measures will be demanded by the financial markets. Worldwide
revenues rose 11 percent to $150.3 billion, but profits soared 62 percent
compared to 2010.