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China's biggest automaker, SAIC Motor, is also settling a plan to take a stake in GM - and it...

China's biggest automaker, SAIC Motor, is also settling a plan to take a stake in GM - and it will likely be joined by sovereign funds across the Middle East and Asia, a sensitive issue after U.S. taxpayers spent $50B to help the company reorganize. (earlier)
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Comments (7)
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    "sensitive"?! The understatement of the decade after the middle class taxpayer took a bath on it with the multiple bailouts over the decades. Oh...and not having a choice in the matter. Now those same taxpayers are shut out of the IPO?


    Yeah, "sensitive issue" indeed.
    12 Nov 2010, 03:30 PM Reply Like
  • Tom Armistead
    , contributor
    Comments (5774) | Send Message
    It would be a big positive to have sovereign wealth funds and foreign corporations owning GM


    That way, we could say that what's good for GM is good for the world.


    It will be wonderful, we will have a terrific global auto manufacturer, the electric SUV is going to be a dynamite product.
    12 Nov 2010, 03:32 PM Reply Like
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
    Wait a minute! Doesn't Mr. Geithner work the American taxpayer? If he decides it is a good time to SELL, what is the sensitivity? How about being sensitive to the $2T in Treasuries the Chinese already own. Unless they don't trust Mr. Geithner....


    Funny how they are sensitive about some things and not about others.


    For instance, I am sensitive to the subsidy from savers and retirees to the large banks we bailed out and, mostly, their executives.


    I wish the guys in DC and the media would drop the "fairness" charade. It is getting tiresome.
    12 Nov 2010, 03:40 PM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
    "Doesn't Mr. Geithner work the American taxpayer?"
    Was that just a Freudian slip? Yeah, he works the taxpayer. But you probably meant doesn't he work for the taxpayer?


    "How about being sensitive to the $2T in Treasuries the Chinese already own."


    I don't see the Chinese $2T (actually less than $1T), as any reason we should have any sensitivity for the Chinese position. Its not like they did it out of the goodness of their heart. They bought US treasuries so that they could keep their low peg to the dollar, and they're not dumping it en mass because they don't want to burn themselves. There's a reason for everything and all of it is about self-preservation.
    12 Nov 2010, 04:21 PM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
    China's position is more about paving the way to selling Chinese automobiles in the US market. While they don't need GM to show them how to build a car, they do have problems with quality, durability, safety standards and such. While the Chinese have a lot of engineers they are still pretty clueless with engineering design.
    12 Nov 2010, 04:05 PM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
    What happens when China learns all of our little tricks from fracking for gas to manufacturing good cars?


    They were already sold missile tech from Billy Jethro Clinton for campaign war chest fodder.


    Now we get to watch them mock us even further. Pretty soon they will be setting our new CAFE standards too.


    Its like teaching a dog to walk, or more correctly to heel. The American consumer will obey.
    12 Nov 2010, 04:38 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2011) | Send Message
    It's not China's biggest auto maker that is looking at buying a stake in the new GM, it is the communists in Beijing that will be investing in GM.
    12 Nov 2010, 11:03 PM Reply Like
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