Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
GM is closing plants, Ford stock is down 44% since 2010, Chrysler is Mercedes/Chrysler or Fiat/Chrysler or Renault/Chrysler, whoever they can get to buy them.
Toyota, Honda, Datsun are doing just fine, thanks. Their sedans are selling like hotcakes. No plant closings, no layoffs. They didn't get bailed out.
What do GM/Ford/Chrysler have that Toyota/Honda/Nissan don't? The UAW, that's what!
Yes you take credit for the good same should go for the bad. But it is a small blip in the employment picture in the US and this has little to do with Trump. One plant is closing in Canada.
The idling of the five plants next year will result in the layoff of 3,300 production workers in the United States and about 2,500 in Canada.
The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.
They are stopping production of cars that are not selling such as the Cruz and they are cutting fat in the white collar jobs.
Last edited by Eeyore1954; 11-27-2018 at 06:38 AM..
another hit piece from the left. But what they fail to realize this has nothing to do with tarrifs and taxes but bad business decisions from GM. Same with Ford. Start making cars people really want to drive.
Honestly I don't know why I bother with the 'hand wavers & flappers' & Free Market Fundamentalists?
For anyone else, Mr. Ryan (& others) clarify for those interested:
Quote:
...“This is a bad combination of greedy corporations and policy makers with no understanding of economic development. I implore President Trump to keep his word when he came to the Mahoning Valley last year and promised jobs were ‘all coming back. They’re all coming back. Don’t move. Don’t sell your house.’ So far, President Trump has been asleep at the switch and owes this community an explanation. We tried to get his attention on this issue two years ago. He promised us that his massive corporate tax cut would lead to dramatic reinvestments in our communities. That clearly is not happening. The Valley has been yearning for the Trump Administration to come here, roll up their sleeves and help us fight for this recovery. What we’ve gotten instead are broken promises and petty tweets. Corporations like General Motors and the President himself are the only ones benefiting from this economy—an economy rigged against workers who are playing by the rules but still not getting ahead. ...
another hit piece from the left. But what they fail to realize this has nothing to do with tarrifs and taxes but bad business decisions from GM. Same with Ford. Start making cars people really want to drive.
GM Offers Buyouts to 18,000 Workers, Months After Warning About Layoffs Over Trump's Tariffs
In June, GM warned the Trump Administration that its steel tariff might potentially lead to fewer jobs and lower wages for Americans working for car companies in the states. Trump had also suggested imposing a 25% tariff on imported cars, a move analysts thought was intended to pressure Mexico into renegotiating the NAFTA trade
Article dated 10/31/18
GM warned Trump. Seems the right can’t quite figure it out, so they blame the boogeymen on the left.
GM warned Trump. Seems the right can’t quite figure it out, so they blame the boogeymen on the left.
Well Boo-Hoo-Hoo...
That has nothing to do with anything. GM is ceasing production on some models that aren't selling. Your brand doesn't go downhill in one month. It's a trend that started a long time ago
I will repeat that GM's issues may not be because of tariffs.
But the announcement yesterday has to be cause for concern.
The perception that trade war chaos may have impacted their bottom line.
The perception that the economy -- after 8 years of growth may be stalling.
The perception that next year may not be as good as 2017/2018 economically.
May not be Trump policies directly at all. But perception is everything and what this administration and Republicans don't want is the economy to take a turn in 2019/2020. Because it will wipe out their primary claim to success.
It's early days -- but this GM announcement is cause for concern and is not being dismissed.
I think it is hilarious that Trump announces he's not happy with the CEO of GM for her decisions. LOL. What the @#$%? She has to make a tough business decision to improve the financial position of the company. She's not there to make things look good for the President -- lol.
That has nothing to do with anything. GM is ceasing production on some models that aren't selling. Your brand doesn't go downhill in one month. It's a trend that started a long time ago
Trumps policies certainly indeed accelerated it. Margins on sedans are thin- the tarrifs with the resulting steel price hike pulled the pin on the grenade.
He saved some steel producers over steel using industries.
And that was resoundingly warned by many industries.
The same is occurring with Ag producers in certain sectors. Trumps trade policies will hasten their demise as well. Well, at least until the Ag bailout money train runs dry.
Great, really smart Trump can be thanked solely for that.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
