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Trump Threatens to Cut Subsidies to GM
November 28, 2018, 02:53 PM
ontmarkTrump Threatens to Cut Subsidies to GM
MAGA - Go Trump
https://www.automotive-fleet.c...ebid=3671F9146356B0MGM Affirms Commitment to U.S. Manufacturing After Trump Threatens to Cut Subsidies
General Motors said many of its workers impacted by the recent car production cuts will have the opportunity to shift to other GM plants after President Donald Trump threatened to cut subsidies for the automaker following its decision to cease production at five of its assembly plants.
The automaker said workers impacted by the cuts will be able to work where support is needed toward growth in trucks, crossovers, and SUVs, GM announced. The announcement was made shortly after President Donald Trump threatened to cut subsidies for the automaker following its decision to cease production at the assembly plants, including three that produce passenger cars it plans to discontinue. This includes cutting subsidies for electric cars.
GM's shares fell by more than 3% following Trump's tweets, according to CNBC.
“Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China,” Trump said in a tweet.
In a release, GM said it was committed to manufacturing in Ohio, with approximately 4,000 employees contributing to ongoing business. It also mentioned it commitment to manufacturing in Michigan, which includes 13 manufacturing operations with more than 51,000 employees contributing to ongoing business.
“We appreciate the actions this administration has taken on behalf of industry to improve the overall competitiveness of U.S. manufacturing,” the release from GM stated.
Beware the man who only has one gun. He probably knows how to use it! - John Steinbeck
November 28, 2018, 02:57 PM
lkdr1989GM CEO Mary Barra is a big-time Democrat supporter.
...let him who has no sword sell his robe and buy one. Luke 22:35-36 NAV
"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves." Matthew 10:16 NASV November 28, 2018, 02:57 PM
Jimbo54Good!! They should have been cut years ago.
Jim
________________________
"If you can't be a good example, then you'll have to be a horrible warning" -Catherine Aird
November 28, 2018, 03:02 PM
chellim1quote:
President Donald Trump threatened to cut subsidies for the automaker following its decision to cease production at five of its assembly plants.
What I can't understand is why some businesses get government subsidies and some businesses do not. I would greatly prefer a level playing field for all businesses, and perhaps a lower tax rate, across the board and applied evenly to all.
I thought that was the whole idea behind lowering the corporate income tax rate?
Government should NOT pick winners and losers.
"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown
"The United States government is the largest criminal enterprise on earth."
-rduckwor November 28, 2018, 04:42 PM
bigdealquote:
Originally posted by lkdr1989:
GM CEO Mary Barra is a big-time Democrat supporter.
She's also in my not so humble opinion, not worth a damn as an auto industry CEO (not to say many of the past GM CEO's were much better).
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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
November 28, 2018, 05:02 PM
downtownvhe will lose all of his union supporters
November 28, 2018, 05:43 PM
corsairquote:
Originally posted by chellim1:
quote:
President Donald Trump threatened to cut subsidies for the automaker following its decision to cease production at five of its assembly plants.
What I can't understand is why some businesses get government subsidies and some businesses do not.
Congress critters and all that we hate about politics.
Subsidies should be eliminated for any business that grosses over X-amount annualy. GM is a multi-billion dollar, multi-national company, why the F are they getting subsidies at all?
November 28, 2018, 05:53 PM
shovelheadquote:
Originally posted by lkdr1989:
GM CEO Mary Barra is a big-time Democrat supporter.
You would be too if Barry gave you that job.
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————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
November 28, 2018, 07:50 PM
Ke Bo LiFord did the same thing about a month ago?
12% of staff being sent home.
Billion dollar loss due to new steel/aluminum tariffs alone.
AND
Product mix not selling, and being stripped down to Trucks/SUVs/Crossovers and the Mustang.
Exact same problems cited in both cases.
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I think the "check engine" light is burned out
November 28, 2018, 08:35 PM
Cousin VinnieNO business or industry should get or deserves any subsidy. When is enough going to be enough? And GM, they should have just went through the regular bankruptcy the last time they missed managed their portfolio. So, now it comes out they put money in escrow (that counted as a payment) than took it out to repay their debt? It's the crooked politicians and slimy government employees that lets this type of SCAM go on. GM needs to either wither on the vine or develop a good business model.
November 28, 2018, 08:55 PM
Amurrquote:
Originally posted by Ke Bo Li:
Ford did the same thing about a month ago?
12% of staff being sent home.
Billion dollar loss due to new steel/aluminum tariffs alone.
AND
Product mix not selling, and being stripped down to Trucks/SUVs/Crossovers and the Mustang.
Exact same problems cited in both cases.
Yeah, but they never took a government hand out!
November 28, 2018, 09:36 PM
dgrdvmBeyond the incentives/subsidies for the electric cars, what exactly will GM lose from this ? I honestly do not know.
"Think about how stupid the average person is, and then realize half of them are stupider than that'
George Carlin
November 29, 2018, 06:09 AM
SgtGoldquote:
Originally posted by Amurr:
quote:
Originally posted by Ke Bo Li:
Ford did the same thing about a month ago?
12% of staff being sent home.
Billion dollar loss due to new steel/aluminum tariffs alone.
AND
Product mix not selling, and being stripped down to Trucks/SUVs/Crossovers and the Mustang.
Exact same problems cited in both cases.
Yeah, but they never took a government hand out!
THIS!
_____________________________
'I'm pretty fly for a white guy'.
November 29, 2018, 06:31 AM
Oz_ShadowThey can’t be doing too bad. They gave employees several thousand dollar profit sharing checks this year.
November 29, 2018, 07:13 AM
ibandaquote:
Originally posted by dgrdvm:
Beyond the incentives/subsidies for the electric cars, what exactly will GM lose from this ? I honestly do not know.
Trump gets a headline for this but it won't really change anything for any car maker. The only subsidy going on to any car maker is a $7,500 tax break to the car BUYER. Tesla phased out of the program this year at 200,000 cars sold and GM will hit that limit before the end of the year.
I have a few SIGs.
November 29, 2018, 08:46 AM
BigSwedequote:
Originally posted by SgtGold:
quote:
Originally posted by Amurr:
quote:
Originally posted by Ke Bo Li:
Ford did the same thing about a month ago?
12% of staff being sent home.
Billion dollar loss due to new steel/aluminum tariffs alone.
AND
Product mix not selling, and being stripped down to Trucks/SUVs/Crossovers and the Mustang.
Exact same problems cited in both cases.
Yeah, but they never took a government hand out!
THIS!
Yes, They did, all of them did.
November 29, 2018, 09:00 AM
Loaded RoundIt's absolutely true that all the automakers have taken handouts one way or another.
In my mind GM's situation is much different. The illegal bankruptcy....the rape of Delphi pensions....the unspeakable screwing they gave the bondholders. All supported by a despicable and self serving administration. Well the American people gave GM way more than a simple bailout.
GM has been given enough, regardless of future business decisions.
Wow...it felt good to get that off my chest.
November 29, 2018, 09:14 AM
roberthquote:
Originally posted by Loaded Round:
It's absolutely true that all the automakers have taken handouts one way or another.
In my mind GM's situation is much different. The illegal bankruptcy....the rape of Delphi pensions....the unspeakable screwing they gave the bondholders. All supported by a despicable and self serving administration. Well the American people gave GM way more than a simple bailout.
GM has been given enough, regardless of future business decisions.
Wow...it felt good to get that off my chest.
Good - let it all out.
GM and Chrysler should have been allowed to fail. Their assets could have been sold to smarter people, the UAW could have been crushed like a parasites deserves, the taxpayers wouldn't have been on the hook for mismanagement and abuse.
November 29, 2018, 09:24 AM
46and2quote:
Originally posted by Oz_Shadow:
They can’t be doing too bad. They gave employees several thousand dollar profit sharing checks this year.
They also bought back a shitload of stock last year, enough to cover their supposed concerns this year and then some.
November 29, 2018, 09:55 AM
chellim1quote:
Originally posted by roberth:
quote:
Originally posted by Loaded Round:
It's absolutely true that all the automakers have taken handouts one way or another.
In my mind GM's situation is much different. The illegal bankruptcy....the rape of Delphi pensions....the unspeakable screwing they gave the bondholders. All supported by a despicable and self serving administration. Well the American people gave GM way more than a simple bailout.
GM has been given enough, regardless of future business decisions.
Wow...it felt good to get that off my chest.
Good - let it all out.
GM and Chrysler should have been allowed to fail. Their assets could have been sold to smarter people, the UAW could have been crushed like a parasites deserves, the taxpayers wouldn't have been on the hook for mismanagement and abuse.
I agree!
And.... coming from Bowling Green, KY no less. The home of the Corvette! (Since that title was stripped from St. Louis in 1981)
"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown
"The United States government is the largest criminal enterprise on earth."
-rduckwor