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Have U.S. consumers demonstrated a willingness to directly pay a premium for goods manufactured in the U.S.?
So I guess we won't be seeing anymore comments from you on American businesses outsourcing then, huh?
Shouldn't one of the parts of the $50 BILLION DOLLAR bailout have been to create jobs here in America where the tax dollars came from?
(Reuters) - General Motors Co (GM.N) outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.
The plans include a new factory in Silao in central Mexico to build 8-speed transmissions and an upgrade to an existing factory in San Luis Potosi that will make next-generation transmissions, GM Mexico President Ernesto Hernandez said.
With numerous free trade agreements, a cheap, well-educated labor force, and proximity to the lucrative U.S. auto market, combined with growing demand in South America, automakers have been lining up for two years to set up shop or expand in a country that some analysts believe could eventually overtake Brazil as Latin America's biggest economy.
"The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy," Hernandez said at a press conference in Mexico City with Mexico President Enrique Pena Nieto.
GM's investment will boost employment and development in Silao, San Luis Potosi and Toluca, Hernandez said. GM did not say how many jobs it will add in Mexico, where it employs 15,000 people at four complexes and its headquarters in Mexico City.
You are predicting that noone ever pays back loans? A lot of people also said that none of the TARP money would even be paid back, but their predictions turned out to be wrong.
The biggest deadbeats are the U.S. people.
Addiction to debt is an epidemic. Feeling a tad low today? Go out and buy something you don't need and cannot afford to make yourself feel better, in the moment. Repeat.
Consumer spending has been a key driver of the U.S. economy for decades. This pending has had a favorable impact on the global economy.
Five years later, taxpayers still haven't broken even on the $698.2 billion in government bailouts issued during the financial crisis.
But we're getting close. The bailouts, which include money disbursed through TARP as well as other funds used to shore up Fannie Mae, Freddie Mac and AIG, may even show a profit by the time the sixth anniversary arrives.
So far, Treasury and the Federal Reserve have recouped $670 billion of those funds. That's far more than could have been imagined in the dark days of 2008.
So what you are saying is that George Bush did the right thing with TARP?
So I guess we won't be seeing anymore comments from you on American businesses outsourcing then, huh?
Shouldn't one of the parts of the $50 BILLION DOLLAR bailout have been to create jobs here in America where the tax dollars came from?
(Reuters) - General Motors Co (GM.N) outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.
The plans include a new factory in Silao in central Mexico to build 8-speed transmissions and an upgrade to an existing factory in San Luis Potosi that will make next-generation transmissions, GM Mexico President Ernesto Hernandez said.
With numerous free trade agreements, a cheap, well-educated labor force, and proximity to the lucrative U.S. auto market, combined with growing demand in South America, automakers have been lining up for two years to set up shop or expand in a country that some analysts believe could eventually overtake Brazil as Latin America's biggest economy.
"The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy," Hernandez said at a press conference in Mexico City with Mexico President Enrique Pena Nieto.
GM's investment will boost employment and development in Silao, San Luis Potosi and Toluca, Hernandez said. GM did not say how many jobs it will add in Mexico, where it employs 15,000 people at four complexes and its headquarters in Mexico City.
GM, which has operated in Mexico for 78 years, has the second largest vehicle output in Mexico, behind Nissan according to the Mexican Auto Industry Association. Mexico is the eighth largest producer of vehicles in the world.
How likely are U.S. consumers to spend a substantial premium for the same auto to be built in the U.S. when they can buy another auto made in Mexico, for less?
The union pensions were saved....the suppliers (non union) got screwed.
Many family owned dealerships were forced to shut their doors as well.
I guess the thousands of dealership employees jobs aren't as important as union jobs, huh?
GM, like many companies, over expanded. In 2009, GM expected to close about 40% of their unprofitable-least profitable dealerships in the U.S. I have no idea of how many they actually closed. They expected the surviving dealers to become larger and more profitable and they have.
In one post you criticize GM for outsourcing to Mexico instead of retaining/creating union jobs in the U.S. to create uncompetitive products and in this post you condemn GM for shaking loose their unprofitable dealerships in favor of saving union jobs?
GM, which has operated in Mexico for 78 years, has the second largest vehicle output in Mexico, behind Nissan according to the Mexican Auto Industry Association. Mexico is the eighth largest producer of vehicles in the world.
How likely are U.S. consumers to spend a substantial premium for the same auto to be built in the U.S. when they can buy another auto made in Mexico, for less?
Okay....let's say you're right.
Why wasn't GM able to compete all along? (BTW....they still aren't!)
Why does Toyota, Nissan, VW and many other manufacturers build in America?
GM, like many companies, over expanded. In 2009, GM expected to close about 40% of their unprofitable-least profitable dealerships in the U.S. I have no idea of how many they actually closed. They expected the surviving dealers to become larger and more profitable and they have.
In one post you criticize GM for outsourcing to Mexico instead of retaining/creating union jobs in the U.S. to create uncompetitive products and in this post you condemn GM for shaking loose their unprofitable dealerships in favor of saving union jobs?
I criticize GM because they took OUR tax dollars and invested it in Mexico!
I criticize GM because they took OUR tax dollars and invested it in Mexico!
I don't see why that doesn't infuriate you.
You become infuriated very easily. You fail to realize that the cars are only assembled in Mehico, while most of the things (parts, etc) are manufactured and designed in US. I'd prefer it was all done in US, but to bring it all back would be a big undertaking.
You are predicting that noone ever pays back loans? A lot of people also said that none of the TARP money would even be paid back, but their predictions turned out to be wrong.
I haven't heard that. A lot of people said none would be paid back?
I heard tarp money was paid back with other bailout money.
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