GM tells Trump that they and the UAW will decide their business

Which is why we backed the large car makers, as many of them supply parts and vehicles for the military. Have right-wing blogs stopped teaching you that?

 

The only time that was partially true was during WW2. We never gave auto makers subsidies to keep them in business for military parts. Glad to see you admit the subsidies for farmers are based on security concerns though. You have learned something today.

 

They formed a new corporation composed of GM, the gov and the Union. A stalking horse bid was made on the old GM assets as part of a 363 sale of assets from the GM ch11 debtor in posession. The government secured the finances which GM could not do on it's own and nobody was willing to put up. 363 sales are open bid, but in this case there was no open bid as no business can compete with uncle sam and out bid the gov. The ch11 debtor in posession was then liquidated in ch7 screwing the bondholders.
A royal **** job by GM and the gov.
Ten years later GM ****ed over the people again

 

Dude - I worked on a ranch growing up - I've known your little bit of "knowledge" since I was twelve. Get over yourself.

 

Then you were being deceitful in your first post denouncing farm subsidies which is worse than being benignly ignorant.

 

No one is doing that.

 

GM is in the process of doing it

I guess its the only way to get out of an unhappy marriage with the auto workers union

 

Actually, a 2009 article doesn't help in this case. You asserted that GM was closing the plant in Lordstown to move the jobs to China. Mine was that they were losing money due to low sales of the model they produce in Lordstown. It would appear that there is no evidence that they are moving the jobs to China. I think we have a 'case closed' situation...unless you get some proof of your assertion.

 

Guess you can't grasp the Band-Aid analogy. WOOOSH!

 

Dirty Donald trying to practice his socialism and dictate to American business as an extension to his tax cuts for the wealthy which was socialism for them.

 

Well, I would think it would take some knowledge of the industry in order to draw a proper conclusion.

Perhaps you should take some time to do that, if you're really that interested.

 

Well, nobody that counts.

 

Why would they need to come to me? Surely you can come up with something more clever than this.

BTW, I would think one would be able to distinguish between something as critical as food, and whether a company should offer a sporty coupe, or a more profitable Cross Over.

And for reference, Farm Subsidies have served a purpose.

https://legal-dictionary.thefreedictionary.com/Agriculture+Subsidies

Agriculture Subsidies. Payments by the federal government to producers of agricultural products for the purpose of stabilizing food prices, ensuring plentiful food production, guaranteeing farmers' basic incomes, and generally strengthening the agricultural segment of the national economy.​

 

You geniuses obviously are ignorant of the fact that Trump did not run any of those businesses, he simply licensed them to use his name..... How many people want to give you millions to use your name? When you reach that point, maybe you can have the credibility necessary to have an opinion....

 

It's Trump that needs the knowledge.
Remember the Lords town quote?
Don't sell your house the jobs are coming back!
A billion dollars in loses from tariffs later they aren't back.
25,000 layoffs?

 

Didn't work. Did it?

 

Look at you.
Cheerleading a company who was rescued by American taxpayers and ****ed them in return.

 

A billion due to tariffs? 25,000 layoffs?

Care to prove that connection with real data?

Again, you appear to not have a grasp of how much the effort to stop China and others from screwing American workers has added to the cost of an automobile.

 

If they are still paying higher rates than you, you are still the recipient of the wealth redistribution, not them.
I know, I know. You want more, .....more of other people's stuff

 

Nope, I grasped it - but it wasn't relevant to our discussion. We are talking about a specific case of plant closure. You want to paint it as jobs going 'overseas' with no proof of that.

 

Boy, for a guy with close connections to the industry your not very current.

(Reuters) - Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor Co (F.N) about $1 billion in profits, its chief executive officer said on Wednesday, while Honda Motor Co (7267.T) said higher steel prices have brought “hundreds of millions of dollars” in new costs.
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Months later, though, Trump imposed new tariffs on imported steel and aluminum that increased prices for many American manufacturers, including carmakers. He followed those tariffs with others targeting Chinese-made goods, including parts used specifically in the manufacturing of automobiles. General Motors, in July, said Trump's tariffs would cost it more than $1 billion over a full year and the company's chief financial officer told Reuters that GM would deal with those added costs by "negotiating price reductions with suppliers, raising prices on more popular models, and cost cutting."


The cost-cutting happened on Monday, when GM announced that it would eliminate about 14,000 jobs in North America and could close five manufacturing plants. Alongside two plants in Michigan, one in Maryland, and one in Ontario, Canada, GM said one of the plants targeted to be closed—or, um, "unallocated" in the awful PR-jargon used by GM in the announcement—is just outside of Youngstown, Ohio.
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Ford, the No. 2 U.S. automaker by sales, is making aggressive job cuts as part of that reorganization, NBC News reported. While the company hasn’t said how many jobs will be lost, a report from Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide.”

http://fortune.com/2018/10/09/ford-stock-today-layoffs-trump-trade-tariffs/

Easy to win.

 

I did not see Hacketts claims. I'm no fan of his, and I think he is the worst executive Ford has had in many decades, but I'll have to take his word for it. If the President's efforts to stop Nations from harming our workforce has cost $1 billion, I guess that is what it is.

But job losses? You know how much an auto manufacture gambles on creating a new car? If $1 billion in added expense means plants have to close, and people have to be laid off, that company is already out of business.

The issue regarding plants and employment relates to what people want to buy. It has nothing to do with the President or his policies. In fact, Trumps policies have helped the auto industry.

Here is an article on the subject.

https://www.detroitnews.com/story/opinion/2019/01/16/opinion-year-reckoning-autos-2019/2591929002/

Automakers and suppliers know a recession is coming and that they have to continue to invest in future technology and business models through the downturn or else be left in the dust. The companies are being proactive and protective as the signs of a slowing market take hold. GM’s announcement to not allocate product to three assembly plants and two powertrain plants in the United States and Canada is based largely on a rapid shift in consumer preferences away from sedans and toward cross-utility vehicles (CUVs) that now account for two out of every five vehicles sold in the United States.

Ford has announced they will stop offering sedan models in the U.S. market, and FCA is down to just three Chrysler and Dodge sedan models in the market. The trend toward CUVs is supported by the demographics of the older new vehicle buyer and relatively low fuel prices. Even if there is an uptick in fuel prices, CUVs are only marginally less fuel efficient than sedans and will likely remain strong in the market​

 

UAW is with Trump, thanks Trump for getting into this. America First.

 

Interesting. If Trump said nothing about GM closing down American plants, you would accuse him of not caring about the American workers. Fact is, GM has had record-breaking profits for several years now; but that isn't good enough for them.

 

I gave you a link earlier showing GM sending jobs to other countries and now a few short years later they close American plants. Connect the dots.