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Word has come out that Saturn is going to shutdown. Penske Automotive has pulled out of the deal to save it and thus GM will shut it down. What does this have to do with Charlotte? Aside from the direct loss of jobs at the Saturn dealership on Independence, there are 1000s of manufacturing jobs in the area making parts for the car companies. This would seem to be another bad hit on our local manufacturing industry.
Word has come out that Saturn is going to shutdown. Penske Automotive has pulled out of the deal to save it and thus GM will shut it down. What does this have to do with Charlotte? Aside from the direct loss of jobs at the Saturn dealership on Independence, there are 1000s of manufacturing jobs in the area making parts for the car companies. This would seem to be another bad hit on our local manufacturing industry.
As usual, no mention in the local media.
Two things...
1) This story has indeed been plastered on the front of the Charlotte Observes site ever since it was announced...just late today. You talk like this news has been out for weeks.
2) I doubt there was anyone in the area doing any signficant work with Saturn exclusively. More likely they support other GM models as well. And if they were exclusively Saturn, their jobs were in jeapordy long before this deal colapsed, considering...uhhh...nobody is buying Saturns anyway.
And on the flipside VW is fasttracking a huge new plant in Chattanooga to produce models for the US market.
Honda, Toyota, Mercedes, BMW, and a few others build cars in the US and none of those required a bailout.
GM was struggling a few years ago in the 'good times'...
Economic woes continue for the automotive and financial industries...
In other news, the sky is blue, water is wet and down is the direction all objects feel compelled to travel under the influence of a gravitational field.
Economic woes continue for the automotive and financial industries...
In other news, the sky is blue, water is wet and down is the direction all objects feel compelled to travel under the influence of a gravitational field.
And on the flipside VW is fasttracking a huge new plant in Chattanooga to produce models for the US market.
Honda, Toyota, Mercedes, BMW, and a few others build cars in the US and none of those required a bailout.
GM was struggling a few years ago in the 'good times'...
This is kind of a hollow argument however. All of these foreign automobile makers received absolutely huge tax subsidies to entice them to locate in these states. We are talking about $Billions in some cases. This item is often overlooked when making the comparison.
As far as I know, GM nor Ford has received any kind of similar tax assistance at the state level. No doubt that GMs ills are mostly self made, but on the other hand the USA is the only country in the world that will pay foriegn companies to come in and compete against its own industries.
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