Posted on 11/27/2018 3:32:57 PM PST by TBP
President Donald Trump threatened on Twitter to end government subsidies for General Motors in retaliation for layoffs the company announced Monday.
What layoffs? General Motors announced that it would be laying off 14,700 workers, including 6,000 factory workers, and closing down four plants in the United States and one in Canada.
While GM, and other car companies, have spoken out against rising production costs caused by the Trump administration’s protectionist tariffs, a spokeswoman for the company told TheBlaze that the layoffs and plant closures “are being made as part of our ongoing transformation and are not related to recent trade or tariff decisions.”
On a conference call, GM CEO Mary Barra said that the company is “taking this action now while the company and the economy are strong to keep ahead of changing market conditions.”
Barra said that the goal was to make the company more efficient. GM’s stock rose 5.5 percent after this announcement.
(Excerpt) Read more at theblaze.com ...
Why force a company to build a product that nobody wants? GM is large enough to absorb those people.
Good. GM can’t have it both ways.
If they want to be totally independent, they should not accept government subsidy.
If they accept government money, then the government can have a say in their operation.
Here’s about 6 minutes of JFK talking about screwing an American plane manufacture for not doing what he wants. Pretty entertaining.
https://www.youtube.com/watch?v=EuaZ0SkVf-Q
ALL presidents do it.
I'm torn anyway. I'm as mad as anyone else here about the bailouts and especially about screwing the bond holders, but I don't want to see GM go under either.
We never should have been subsidizing GM or any other company.
Good point.
They can build cars people want here instead of Canada, China or Mexico. Those countries didn’t bail out GM. The USA did. They owe us a bit of patriotic loyalty.
Trump should cancel all Government contracts with GM for government and military vehicles if they shut down those plants.
GM would not be in business today but for the taxes from American citizens. They seem to have conveniently forgotten who buttered their bread.
GM and PROGRESSIVES are trying their best to ruin PRESIDENT TRUMP’S economic success.
US Taxpayer money bailed their dumb asses out. I didn’t hear them talk about closing any Chinese or Mexican facilities. One in Korea.
Close those facilities first. The Chinese and Mexican ones. This amounts to a permanent transfer of labor from US plants to foreign plants all financed by the very people who will be out on the street next week.
You’d think the Unions and the D’s would be lockstep behind Trump on this, but no. This one is EASY!
Only FORD can pull a stunt like this and get away with it. They didn’t come begging.
Let’s force this company to pay back the taxpayers TEN BIL-Let’s build that wall!
Crony-capitalists love government money and benefits. Its a great thing when the politicians and corrupt businesses can make money together.
But politics are the most fickle thing on earth. GM should expect to pay dearly for their deal with the devil.
If GM wants to manufacture in China and sell in China, I don’t have a problem. They shouldn’t be forced to operate unprofitabily in the US. But, those Chinese made cars shouldn’t be shipp5 back here.
Linking this to EV subsidies is arm twisting I don’t approve of.
But it’s models that don’t sell. My dad years ago bought a Camaro Berlinetta and later found out it was assembled in Canada; found some loose bolts floating around the engine compartment as well as some Bondo filler. Took it back to the dealer. It was junk.
There you go on that!
I think most of the subsidies that he’s talking about are the bribes from the obama administration to build electric cars in the first place.
Yep. Pay the taxpayers back. But they can’t pay if they build cars nobody wants or buys. Ford transmissions are made in Mexico BTW.
They’re getting rid of the Volt. They’re losing the subsidied anyway.
>
Good. GM can’t have it both ways.
If they want to be totally independent, they should not accept government subsidy.
If they accept government money, then the government can have a say in their operation.
>
Considering 1) there’s no ‘govt $$’ and 2) govt AUTHORITY to give said ‘govt $$’ (let alone dictate to ANY biz operation)
End the subsidy anyway.
Let the free market do its thing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.