Commentary

You’re Selling Trucks in China Now

Guess what? Your auto company, Government Motors, has decided to partner with China to sell trucks:

General Motors said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million).

The 50-50 joint venture, based in the northeast China city of Changchun in Jilin province, will make light-duty trucks and vans, GM said in a statement.

Do you like this investment decision by the auto company that you bought? If so, you can show your support by re-electing the corporate board at the next leadership vote, it’ll be in November of 2010. You can also show your disapproval by voting out that board, though the CEO vote isn’t until 2012. The only complicating thing is that the same board is also the corporate governor of Citigroup and Bank of America, so it’ll be a mixed share holder vote.

This investment may or may not be a good move for GM, I’m not an auto executive so I can’t say for sure. But as a taxpayer-owner I regret my inability to voice my opinion one way or the other in case I did have a thought or two.

Anthony Randazzo

Anthony Randazzo is a senior fellow at Reason Foundation, a nonprofit think tank advancing free minds and free markets.