• White House Cancels GM Joint Venture to Mass Produce Ventilators Over Fears Its Price Tag Could Exceed $1 Billion-or 0.05% of Latest Stimulus Bill

    6 days ago - By Mediaite

    Photo credit: Evan Vucci-Pool, Getty Images.
    The White House abruptly cancelled a General Motors joint venture project to build tens of thousands of desperately-needed ventilators after FEMA officials expressed concern that the costs of the effort could exceed $1 billion - or roughly 0.05 percent of the massive coronavirus stimulus bill that passed the Senate the day before.
    According to the New York Times , the project between the car manufacturer and Ventec Life Systems would've repurposed GM's Kokomo, Indiana auto parts plant to produce up to 80,000 ventilators instead. The plan was set...
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