Did the GM Bailout Really Save American Jobs?

Complete video at: http://fora.tv/2010/03/27/The_Future_of_Manufacturing_in_the_US_and_Europe

Wilfried Porth, member of the Board of Management at Daimler AG, cautions against the assumption that the GM bailout saved American jobs. He warns legislators against subsidizing the auto industry to the same extent as of the commercial airline industry.

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The recent economic crisis has accelerated long-run trends by which, over the course of decades, the industrial base in the United States and the European Union has been undergoing a radical restructuring. Globalization, competition from emerging and developing economies, and technological advances have led significant manufacturing employment declines in parts of Europe and the United States. Last year, the United States saw an estimated one-percent drop in its industrial capacity, the largest annual decrease on record, with goods-producing businesses shedding some 2.3 million jobs. In addition, investments in both the United States and Europe into R&D and plants and equipment have decreased, potentially threatening the long-term competitiveness and employment prospects of the U.S. and EU industrial base.

"Postindustrialism" has been held up as the new route to prosperity, but one of the obvious advantages of manufacturing is that it creates jobs for a wide range of people—both in heavy industries like the steel and automotive industries as well as high-tech industries like semiconductors or value-added chemicals. At a time when the recession has amplified the challenges for manufacturing employment on both sides of the Atlantic, it is important to review the long-term future of the manufacturing sector in the United States and Europe. - German Marshall Fund

Wilfried Porth has been a member of the board of management of Daimler AG since April 8, 2009, and is currently responsible for human resources. He is also director of labor relations for the company and has been responsible for IT since May 1, 2009. Mr. Porth was born in Baden-Baden on February 2, 1959. He studied mechanical engineering at the University of Stuttgart from 1981-85 and graduated as an engineer. He then joined the central production engineering department of Daimler-Benz AG as a planning engineer in 1985. Throughout his career, Mr. Porth has held several management and executive positions within the company.

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[RadarKat73080]

If GM had folded, it might have opened the market for smaller, domestic carmakers.

[bradthompson86]

THe answer to the title is, NO!

[tbzooski]

How did GM get away with filling bankruptcy when they received the BILLIONS from the tax payer bailout? What a sham! I thought the bailout was to prevent a bankruptcy I don't even think they needed the money to begin with! I feel GM's greed took the American people and our government for fools! And we won't ever get our tax dollars back. It makes me sick to hear how much there white collar employees are getting in bonuses when they still owe the tax payers billions!

[mastior]

Ford produced ALL HITLERS TRUCKS considered HITLERS Back Bone

HITLER had Fords Picture on his wall in BERLIN

Rockefeller gave HITLER all the OIL for WW2

All Tattoo's on the slaves were IBM Binary

BUSH was charged WAR CRIMINAL 1945 he forced slaves to make steel for HITLER

Harley Davidson produced 20k Harleys (RIKUO) to JAPS WW2 Killing USA GI's

President of Harley is a TALMUD ZIONIST antiAmerican. High Treason Traitors...

[mastior]

GM made HITLERS TANKS...

IG FARBEN Talmud Zionist NAZI's built all of the concentration camps WW2 Look at IG FARBENS Complex in Berlin. Replicated after GM Building in Detroit.

GM Produced German Tanks Killing USA GI's.

They profited by GENOCIDE, escalated WW2 for PROFIT / Commerce

[RadarKat73080]

@TurboFuss1 Notice how Obama's speaking ability has gone downhill since the election? He used to give these eloquent speeches, now he seems to be almost as much a yammering idiot as Sarah Palin!

[TurboFuss1]

@RadarKat73080 Haha, I tell people that all the time. Bush and Obama are the same. You're dumb to believe otherwise. I always vote 3rd party.

[RadarKat73080]

@TurboFuss1 Having massive buyer's remorse about Obama, but I do realize that McCain wouldn't be any better! The current crop of GOP hopefuls scares me shitless!

[TurboFuss1]

@RadarKat73080 Very true my friend. Neocons and liberals both seem to love corporatism and can't differentiate that from true capitalism.

[RadarKat73080]

@TurboFuss1 There are no capitalists anymore, just corportists. 

[TurboFuss1]

@RadarKat73080 Very true. Most true capitalists would have said "let GM fail, out of her ashes will rise more efficient companies".