Trump threatens to cut all GM subsidies President Donald Trump threatened on Tuesday to cut all General Motors subsidies after the automaker announced thousands of jobs cuts.Commentsview comments in forum Page 1 2 You need to be a member of CKA and be logged into the site, to comment on news. |
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But not until USMCA is a done deal...
I say fucking Nuke them...
From orbit. It's the only way to be sure.
You're talking about Mar-A-Lago and not GM, right.
I say fucking Nuke them...
From orbit. It's the only way to be sure.
You're talking about Mar-A-Lago and not GM, right.
I don't know. All I know is needs to be nuked. From Orbit. By an orbiting Kinetic Cannon.
[I don't know. All I know is needs to be nuked. From Orbit. By an orbiting Kinetic Cannon.
A couple of Centauri battlewagons armed with mass-drivers suddenly appearing over both the Kremlin and Trump Tower would certainly do the rest of the world a lot of good. Yes, I will genuinely thank our new alien overlords for taking out the trash for us.
Trump threatens to cut GM's electric car subsidies because of plant closures
Trump unleashed on Twitter a day after GM announced it would shutter five plants and slash 14,000 jobs in North America, with many of the job cuts coming from the U.S.Midwest, where the president has promised a manufacturing rebirth.
Donald J. Trump
?
@realDonaldTrump
Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including....
Trump's incendiary tweet came a short time after National Economic Council director Larry Kudlow said the White House's reaction was "a tremendous amount of disappointment maybe even spilling over into anger." Kudlow, who met with GM CEO Mary Barra on Monday, said that Trump felt betrayed by GM, which the government had been trying to help.
"Look, we made this deal, we've worked with you along the way, we've done other things with mileage standards, for example, and other related regulations," Kudlow said. "We've done this to help you and I think his disappointment is, it seems like that they kind of turned his back on him."
Rebates of up to $7,500 per electric car
A White House rebuke to GM would fly in the face of what some describe as long-held Republican opposition to picking winners in the marketplace. It's not clear precisely what, or when, action may be taken. White House press secretary Sarah Huckabee Sanders said that she did not have any additional information on the president's threat.
Buyers of electric vehicles made by GM and other automakers get U.S. federal tax credits of up to $7,500, helping to reduce the price as an incentive to get more of the zero-emissions vehicles on the road.
GM on Monday announced it would cut six gas-powered car models as part of a plan to close factories and cut costs so it can spend more on electric and autonomous vehicle development....
More at CBC
A person familiar with the matter told CNN Business that GM is unaware of any significant federal subsidies the company is receiving beyond a $7,500 plug-in tax credit, which goes to the consumer, not the company.
https://www.cnn.com/2018/11/27/business ... index.html
But I think it's worth repeating and calling attention to this from the CBC article.
GM on Monday announced it would cut six gas-powered car models as part of a plan to close factories and cut costs so it can spend more on electric and autonomous vehicle development....
Can't figure out what exactly GM is up to myself but I think maybe Trump thinks he can.
rat-eating-cheese-19160248.jpg
If they're going to shut gas powered auto plants in order to focus on Electric and Driver less cars why would they close the Hamtramck plant which makes the only electric vehicle in their lineup?
Seems to me this is a bottom line ploy rather than an honest attempt to reconfigure to build electric and idiot proof cars.
Say what you will about Trump at least he's making an attempt to punish GM for taking jobs away from American workers, now if our PM would do the same maybe General Motors would get the message that they can't just continue to take taxpayers dollars and then walk away unscathed with pockets full.
Oh wait what am I saying. Bombardier set the bar for gov't largess in Canada decades ago and now GM is just cashing in on that policy.
Here's hoping that at least some of the rank-and-file that are getting the shaft today will be the ones called back to work first if/when the lines for the new generation of product are ready to start producing.
Can't figure out what exactly GM is up to myself but I think maybe Trump thinks he can.
Cars don't sell anymore in North America. That's what's happening.
Say what you will about Trump at least he's making an attempt to punish GM for taking jobs away from American workers, now if our PM would do the same maybe General Motors would get the message that they can't just continue to take taxpayers dollars and then walk away unscathed with pockets full.
They aren't walking away with pockets full of money and our government has made their money back 10-fold with the taxes they've earned on the entire automotive industry. They are making a smart business decision.
If they've had problems with the Volt and need to make it better and more competitive with the alternatives out there, including against hyper-popular the gas-burner Japanese sedans, then technically they're correct in shutting down the lines that produce their current unwanted product until they're ready to restart with their next generation of electrics/hybrids. Doing more years of manufacturing something they can't sell except at a discount doesn't make fiscal sense for them if the profit margin on those now-irrelevant cars has effectively disappeared.
There is no problems with the Volt. For every Volt or Bolt sold, GM breaks even with government incentives. Without those incentives, they are sold at a loss and the profit margin for dealers is so thin, nobody will push them.
The Volt is a $20,000 car with a $18,000 powertrain. It's a fantastic concept but people aren't willing to pay for the technology yet. It's not sustainable at the MSRP.
There is no problems with the Volt.
Big problem. No style, no hype. No sexy image, piss poor marketing.
I wouldn't be surprised if those butt-lick GOP reps and senators in this congressional lame-duck session were to go along with Trump, at least the ones that didn't lose their seats because of him, in taking a shot at punishing GM. At the same time, unless someone says otherwise, it wouldn't be a surprise at all if Trump was just shitting as usual out of that hideous rectum he has in between his nose and his chin and is just strutting like a martinet for the benefit of the idiots who worship him even though he's effectively powerless to do anything about the GM decision.