Ben Howe at RedState questions General Motors’ spending, including $15 Million on advertising at one football game.
So the government appointed CEO has taken the company’s stock to historic lows; pushed out money losing, government subsidized cars that the American people don’t want, all at the behest of his bosses in Washington; and is sitting on enough cash to pay back the loan but is instead choosing to wait for the treasury to lose money when it sells our shares. So what’re they doing with all that money?
Well, they’re handing out bonuses that will be over $400 million and could exceed 50% of workers salaries. In fact, nearly all 28,000 engineers and managers will get 4-16 percent of their base pay.
They’re paying homage to the green gods by investing in solar panels and wind farms. Not exactly sure how that contributes to making cars, but what do I know? In fact they’re spending just under $1 million for weatherization projects in Maine which they claim will be the first of similar investments in all 50 states.
GM is investing over $40 million dollars to “offest its carbon footprint,” and invested enough money into the World Golf Championship in Doral, Fl to get them to add the word “Cadillac” to it.
The average cost of a superbowl ad is $3 million for 30 seconds. GM aired 5 of them.
They’re working on getting the green light for a reality tv show about their Chevy Volt. I’m guessing it’ll include a cast of 20 people that will coincidentally be the only people in America that actually own one.
In fact, they are spending on entertainment at a faster rate than any other category.
And I know what you’re thinking, “Hey, companies have to advertise man! It’s getting them name recognition!” To that I would ask you if you really believe that GM’s name is so unknown that they need to spend a minimum $15 million worth of advertising during one game, or if, perhaps, they might be well known enough to advertise somewhere other than the most expensive commercial spot on planet Earth.