Good news: Government Motors now using taxpayer bailout money to bail out Detroit public schools

The taxpayers will lose $59 billion to GM: GM Commercial: Thanks for the $59 Billion taxpayers won't get back. Love - the UAW. $14 billion directly from the bailout, and an additional $45 billion because Obama is giving GM a tax furlough for the next couple of years. The latter is not being reported by the establishment MSM. What's GM doing with its windfall of taxpayer money (besides swimming in it)? They're using it to pump up unsustainable teacher union benefits, graft and corruption that is part of the Detroit Public School system. This kind of went under the radar last week, but I kept a tab open on it: GM to pump millions into helping United Way improve metro Detroit high schools. GM is yet to make a red cent in profit (their reported profit last quarter was smoke and mirrors and was positive only because of bailout money and tax furloughs). So where are they getting these millions from? Us/ You betcha!:

General Motors plans to give $27.1 million over the next five years to help the United Way restructure five metro Detroit high schools, as the company continues its post-bankruptcy emphasis on turning around its home city.

The donation, which is the largest ever to come from GM's charitable foundation, targets the 22 schools in southeast Michigan that have graduation rates of less than 60%. The schools must submit applications in January to get turnaround money and, if chosen, will follow an existing United Way model with the hope of increasing their graduation rates to at least 80%.

As GM has returned to profitability and to the stock market, the automaker has returned to charitable giving.

Again, GM hasn't made any real profit yet. The real numbers are hidden from public view as the suck-up establishment MSM isn't reporting that GM is paying no taxes at all. Ford gets no such exemption and still is turning a real profit. The Detroit Public School (DPS) is flush with taxpayer money as it is, but its being wasted via corruption, graft, and unsustainable union benefits to graduate a paltry 1 in 4 students. And the Obama-driven Government Motors is throwing good money after bad. How is this not a bailout of DPS exactly?

http://theblogprof.blogspot.com/2010/12/good-news-government-motors-now-using.html

Sent with MobileRSS for iPhone

Sent from my iPhone