Thursday, September 23, 2010

GM Resumes Political Giving

For a company that paid off taxpayer debt with taxpayer money, a company controlled by a corrupt government that stole from pensioners and investors to give to greedy unions, for them to use false "profits" to further the campaigns of union friendly Democrats (throwing in a token Republican) is no more than legalized theft.

It isn't unusual for big companies like GM to spend on political campaigns, but complicating GM's situation is that the company is majority-owned by the U.S. government. GM is planning to return to the public stock markets later this year, allowing the U.S. to begin to sell off its roughly 61% stake in the company.

GM spokesman Greg Martin said the company stopped making political contributions in spring 2009 to focus on its taxpayer-financed bankruptcy reorganization.

"As we've emerged as a new company, we're not going to sit on the sidelines as our competitors and other industries who have PACs are participating in the political process," Mr. Martin said. He called GM's political action committee is "an effective means for our employees to pool their resources and have their collective voice heard."

Mr. Martin added that the company has supported members of both parties who "approach issues thoughtfully" and "support a strong auto industry."
GM Resumes Political Giving

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