http://www.foxbusiness.com/markets/...s-at-two-u-s-plants-due-to-slowing-sales.html HYPERLINK has full story snip GM's Lordstown, Ohio and Lansing, Michigan plants build slow-selling cars sold by Chevrolet and Cadillac. GM said it will furlough the employees when it cuts the third shift at both plants in January. end snip after 8 years, doubling the debt, artificially low interest rates, and you'd think that things would be swell but the GDP growth didn't even match the additional debt. We see jobs reports each month with the majority being part-time, foodservice positions. This is not the first announcement from the auto industry and won't be the last. The can was kicked down the rode for Obama but his disdain for capitalism has put us in a very bad spot.
If Trump is true to his word the big automakers will have to decide; 1. Move all manufacturing to Mexico or Canada and import the cars into the US with Trumps proposed high import duties. 2. Close the Mexico and Canada plants and move production back to the US to avoid the tariffs.
Well surely Trump will subsidize those jobs as he has promised to do with the coal mining jobs and steel industry?
I don't see why this needs to be politicised. It strikes me as a business decision. GM is shutting down its third shift due to slumping demand. These plants are still running 16h/day. How many Chevy Cruze's can North America consume? As far as I can tell, the Cruze is a decent car. It seems to be much better than the Cavaliers/Cobalts/Sunbirds/Sunfires that were made at the plant in the past. I've driven a couple as loaners and liked the way they drove. That being said I gave GM a pass this time. I've only bought GMs since I started driving in the late 80s and got a Subaru this time for a change. Sorry for being partially responsible for shutting down the third shift.
Who cares? GM sux anyway. They should have gone under long ago. Or, at the least, not been bailed out. They would have then resorted to merging with other corps. like they did when they were created, and did not have bailouts. Simple, free market solution.
I wonder if they'll change their minds now that Trump has won. He's rich so that means he'll be able to save jobs. Maybe he can save these ones too with his magic.
This is not surprising really. Their rising sales volume people touted in the spring as a sign the economy was improving was really because they were selling them at near cost just to move units to help keep their stock inflated.
