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Date Posted: 15:31:43 10/12/09 Mon
Author: Bob
Subject: forum

Last night I happened to watch for about 3 minutes Sean Hannity debating Michael Moore. Moore was making his point that jobs have been lost because many US corporations outsource to China and that's one reason we don't make much anymore of what American consumers actually need. Hannity's rejoinder was that lots of entrepreneurs form startups. Yes, but does a startup's work force match the 1000's of blue collar workers shed by, say, a GM and a Chrysler* in a year? And that leads to 2 related articles from the Saturday edition of the San Jose Mercury News:
1) "Chinese company buys Hummer."
"DETROIT---Hummer, the off-road vehicle that epitomized America's love of hulking trucks, is now in the hands of a Chinese heavy equipment maker. GM and Sichuan Tengzhong Heavy Industrial Machinery on Friday finally signed the much-anticipated deal for GM to sell the brand. Tengzhong will get an 80% stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a big stake in Tengzhong through an investment company, will get 20%. The investors will also get Hummer's nationwide network."
2) "GM sets sales record in China."
GM said Friday that it set a sales record in China in September and total sales for the first 9 months of the year rose 55% to nearly 1.3 million vehicles. China's monthly sales have surpassed those in the United States for all but 2 months this year. GM and its Chinese joint-venture partners
sold a total of 181,148 vehicles in September, the company said."

* Yesterday I happened to see a 1949 DeSoto 4-door sedan in Campbell, CA. Whoever owned it must have put a small fortune into it. Chrome was perfect, interior was immaculate and it even had DeSoto hubcaps on its white walls. I don't think the blue paint job was factory, however. One non-standard edition was air conditioning, the controls mounted inconspicuously under the dash board next to the steering column.

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Forum? Who are you talking to? -- SC, 12:45:03 10/17/09 Sat