Thursday, April 20, 2017

GM Closings - Wisconsin Vs. Venezuela

Today's The New York Times includes a review of a book lamenting the closure of a GM plant in Wisconsin:

Earlier, we learned that another GM plant had been seized in Venezuela:

While it's difficult to know why the plant in Venezuela was seized, one thing is certain - in the US a corporation can turn a multi-billion dollar asset into a scrap heap whenever it wants to, no questions asked.

Does that make any sense to you?

I bet the workers in both locations could keep these plants running. Here's an example of how such a thing can be done:

Or does it make more sense to just scrap them and allow the corporations to take a tax write-off?

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