In the spring of 2009, General Motors took a break from swimming in the political pool. Now that it's done toweling off the bankruptcy blues, The General is reportedly ready for another dip. According to The Wall Street Journal, the Detroit automaker has just lifted a self-imposed political spending ban by handing out $90,500 for select candidates running in the November elections.
As the business daily points out, it's nothing new for large companies to provide campaign money for politicians. It is, however, quite interesting ground that General Motors survives today because its majority shareholder, at a 61 percent stake, is the United States government.
Federal Election Commission records show that GM is supporting members from both parties, including Senator Debbie Stabenow from Michigan and House Republican Whip Eric Cantor from Virginia.
Wading into the political arena is a necessary game that any large corporation has to play and General Motors understands the importance of advocating for its interests in this arena. According to GM Spokesperson Greg Martin, "We're not going to sit on the sidelines as our competitors and other industries who have PACs are participating in the political process." Thanks for the tip, Dan!
[Source: The Wall Street Journal]
As the business daily points out, it's nothing new for large companies to provide campaign money for politicians. It is, however, quite interesting ground that General Motors survives today because its majority shareholder, at a 61 percent stake, is the United States government.
Federal Election Commission records show that GM is supporting members from both parties, including Senator Debbie Stabenow from Michigan and House Republican Whip Eric Cantor from Virginia.
Wading into the political arena is a necessary game that any large corporation has to play and General Motors understands the importance of advocating for its interests in this arena. According to GM Spokesperson Greg Martin, "We're not going to sit on the sidelines as our competitors and other industries who have PACs are participating in the political process." Thanks for the tip, Dan!
[Source: The Wall Street Journal]
Sign in to post
Please sign in to leave a comment.
Continue