Take Back Politics

In GM’s recent announcement of their plan to continue to become a viable business, GM stated that they will close plants in the U.S. and lay off more workers. While GM continues to receive U.S. taxpayer money in their bailouts they should be forced to close plants outside of the U.S. before anything in country is closed. While people currently argue against protectionism in today’s global economy, is it right for U.S. taxpayers to pay to save foreign jobs while we loose more GM plants and employees? We agree that GM is bloated when it comes to the workforce and that more needs to be done by the union to increase American GM employee productivity, but we also believe that U.S. taxpayer money should go to save U.S. jobs and stimulate our local economies first.

Instead of wasting tax payer money on pork projects that will take months to stimulate the economy, if they do at all, lawmakers should be passing immediate dramatic tax cuts instead. Money in consumers pockets where it is needed most would have a much more immediate impact. Wouldn’t families in hard hit states like Michigan be better off with a few hundred dollars in the pockets in the next pay check?

While America is suffering through one of the worst economic downturns in history, the House Democrats are 150 miles away spending taxpayer money to have their Annual Retreat.  At a time when companies who have received bailout money are being criticized about trips to Las Vegas and private jets, why are the House Democrats wasting tax payer money in Williamsburg?  Perhaps the Democrats should hold their meeting in the Washington D.C. area and save money.

GM announced that they will end the Jobs Bank on February 2nd, moving 1600 employees out of the system.  This is something that is long over due.  How many other companies continue to pay you indefinitely for not doing your job?  This is a burden that GM, nor any other company, should bear and it is great to see GM finally moving to become competitive.

Home Depot announced today that they are closing their 34 Expo home-design stores. HD noted that “Even during the recent housing boom, it was not a strong business, underperforming the core, orange-themed big-box stores during its best year in 2007.”  Investors are showing this is probably a good move as HD stock is currently up $1.14 (5.16%) per share.

We’d agree with HD that it is time to let the Expo stores go.  If you have ever been to their competitor “The Great Indoors“, part of the Sears company, you will understand why Expo has not performed even during the building boom.  The Great Indoors has a much better selection and a much nicer atmosphere.  It is much like the recent Circuit City versus Best Buy comparison that we made.  The Great Indoor is simply a better store, and the Expo chain really does not have much to offer.

HD has made a good move with this closing, even though there are going to be 7,000 people looking for new jobs.