Now let's get this straight: GM took $45 billion in tax breaks. It's stock is at the lowest point since the IPO which makes the taxpayers' loss on them something north of $15 billion now. They just reported great profits - $2.5 billion last quarter - but did so largely by shoving almost three months of truck inventory onto their dealers ...
... but in spite of owing every American better than $200 each for bailing them out, they are ...
... helping to design the city of the future -
IN CHINA. And in this 'city of the future', 90% of the people will move around by light rail. They are putting money into designing cities where people won't even drive cars - just a lot of trains and a few goofy little Segways.
This is like having your deadbeat brother in law freeloading off of you, borrowing money every time you turn around to pay for the basics, then finally getting a job and a first paycheck ... but rather than pay you back a little of what he owes, or put it in the bank to pay for next month's rent, he blows it all on a drunken weekend in Vegas.
To waste our money - my money - on something as plain stupid as this project - and to invest American taxpayers' bailout money on transportion R&D no matter how stupid the scheme in China of all places demonstrates hubris beyond the pale. Who's idea was it to keep these guys afloat?