"GM has been given a total of $50 billion in government funds over the past decade"
If the writer is going to convince anyone not already on the same side, the writer has to be crystal clear with the facts. The US government invested $50 billion in GM and $38.8 billion was paid back. So GM has been given $11.2 billion, which is damning enough.
But the point of the article stands, of course. And the $514 million from the tax changes is just icing on a very large cake. GM's profit for 2017 for -$3.9 billion, but for the previous five years it averaged almost 6 billion per year. So "We can't afford to pay those 15,000 people and operate their facilities, our profits are only $400,000 per person being laid off! Woe is us!"
'Corporate Greed at Its Worst': After Reaping $514 Million From GOP Tax Scam and Billions in Public Subsidies, GM to Fire Nearly 15,000 Workers
edmund_the_destroyer wrote
"GM has been given a total of $50 billion in government funds over the past decade"
If the writer is going to convince anyone not already on the same side, the writer has to be crystal clear with the facts. The US government invested $50 billion in GM and $38.8 billion was paid back. So GM has been given $11.2 billion, which is damning enough.
But the point of the article stands, of course. And the $514 million from the tax changes is just icing on a very large cake. GM's profit for 2017 for -$3.9 billion, but for the previous five years it averaged almost 6 billion per year. So "We can't afford to pay those 15,000 people and operate their facilities, our profits are only $400,000 per person being laid off! Woe is us!"