You’ll be glad to know that General Motors has taken its horrid financial situation to heart and is taking immediate steps to reduce costs, increase its cashflow, and drum up new business. In fact, it’s doing all three things at the same time.
General Motors reduced its lobbying spending in the second quarter by only 1.4% compared to the first quarter, even though the second quarter saw the company go bankrupt, be taken over by the government, and announce it was cancelling its outside lobbying contracts.
In April, May, and June, GM spent $2,760,000 on lobbying according to its Q2 lobbying filing, compared to $2,800,000 in the first quarter.
Yep, the folks at GM know how the game is played now. Spend a few million a year on lobbying and you can reap billions in taxpayer money that you won’t ever, ever, ever be forced to pay back, no matter what you do with it.
Stacy asks, “Are these GM lobbyists among those ‘jobs saved or created’ that Obama keeps telling us about?” Well, Washington, DC seem to be doing rather nicely in this recession thanks largely to millions of our dollars “creating or saving” Democratic power.
Category: The Economy and Your Money