GM Resumes Political Giving

[Sarajmt]

GM Resumes Political Giving


By JOSH MITCHELL

General Motors Co. has begun to once again contribute to political campaigns, lifting a self-imposed ban on political spending put in place during the auto maker's U.S.-financed bankruptcy restructuring last year.

The Detroit company gave $90,500 to candidates running in the current election cycle, Federal Election Commission records show.
Washington Wire

    * GM Resumes Campaign Contributions

The beneficiaries include Midwestern lawmakers, mostly Democrats, who have traditionally supported the industry's legislative agenda on Capitol Hill, including Sen. Debbie Stabenow (D., Mich.), Sen. Sherrod Brown (D., Ohio) and Rep. John Dingell (D., Mich.).

The list also includes Virginia Rep. Eric Cantor, the House Republican Whip, who would likely assume a top leadership post if Republicans win control of the House in November.

It isn't unusual for big companies like GM to spend on political campaigns, but complicating GM's situation is that the company is majority-owned by the U.S. government. GM is planning to return to the public stock markets later this year, allowing the U.S. to begin to sell off its roughly 61% stake in the company.

GM spokesman Greg Martin said the company stopped making political contributions in spring 2009 to focus on its taxpayer-financed bankruptcy reorganization.

"As we've emerged as a new company, we're not going to sit on the sidelines as our competitors and other industries who have PACs are participating in the political process," Mr. Martin said. He called GM's political action committee is "an effective means for our employees to pool their resources and have their collective voice heard."

Mr. Martin added that the company has supported members of both parties who "approach issues thoughtfully" and "support a strong auto industry."

Write to Josh Mitchell at joshua.***@****

http://online.wsj.com/article/SB10001424052748704129204575506352139305206.html?mod=WSJ_hp_mostpop_read

[margypops]

yup    payin for their political campaigns ....

[Sarajmt]

Mike:  No.  They still are government owned but hope to be able to be independent by next year.

Brice:  I agree.  Nicely said.

[brice1967]

Better than that, it is ensuring some votes.  Notice how they are spending money on those most likely to win???  I winder if they will have any favors to call in after the next election.

Another perfect example of how politics runs today.  Actually had something similar to this happen in the workplace about 17=18 years ago.  During an employee meeting, strategically planned 2-3 days before an election....our bosses said "...there are a few issues we need everyone to take into consideration this election.  We arent going to tell you how to vote..."  but is exactly what they were doing.

Bah....no news there.  Same picnic, different basket.

[mikesimon]

Hey - didn't GM pay us back? I thought so anyway. I thought that was a good outcome that no one wants to mention or talk about.
I'm buying a GM product within a year or so and I already have a 2008 GM car.

Mike

[Sarajmt]

How clever. Take tax payer funds, give them to a corporation and then get the money back through campaign contributions.  Our own money going to political campaigns,  I guess they didn't think we'd notice.