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the old gm which gm, the new gm was formed from the minutes of, they were able to keep those. so the tax issue is not a huge issue. i know that figure is evaluation of gm's tax liability in the reports but is not a big number. this is a comment that third-quarter made $2.5 billion in profits. $150 million for coverage hundred $50 million for coverage that is revenue nor the $151 a a year, not a big thing to panic. gm ever said if we get the corporate tax cuts we will add more jobs. but look what tim ryan and all the numbers, senator portman, this is a- bipartisan anchor. maybe what caught gm by surprise was a level of anger towards the company. there is a lot of as tim ryan told me, rethink the bandit of the bailout. >> host: why was mary boris surprised by that? >> guest: i think because gm position this as we had to do this. these are cars not silly. from a business standpoint gm thinks this makes sense. we are, that ship, the plant congressman ryan in lordstown lost its first shift. they lost another shift earlier this year. it's a bad one ship it gets lost 3000 workers. it
the old gm which gm, the new gm was formed from the minutes of, they were able to keep those. so the tax issue is not a huge issue. i know that figure is evaluation of gm's tax liability in the reports but is not a big number. this is a comment that third-quarter made $2.5 billion in profits. $150 million for coverage hundred $50 million for coverage that is revenue nor the $151 a a year, not a big thing to panic. gm ever said if we get the corporate tax cuts we will add more jobs. but look...
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they said that ohio was there when gm needed a bailout, and they helped gm out, so gm now needs to step up and help out ohio. listen. >> we're trying everything we can to insure that those workers at lawrencetown get the support they deserve now to be able to build another product. we're not asking for charity. what we're asking for is to give the community and the work force the opportunity to once again show what they can do. >> reporter: and they talked about retooling maybe in the future, bringing some new renewable or energy efficient cars. the new technology, battery-operated cars coming into that plant possibly. they did push and say they wanted to try and, obviously, keep the jobs. barbara says she'll -- barra says she'll try and find other employment for those workers. she says she's going to try for most of the folks. however, she says that she has to make this decision for the survival of gm itself. now, after the ohio congressmen, which she's meeting with right now, she's going to meet with the senators from maryland to discuss why the plant's closing in that state too. back
they said that ohio was there when gm needed a bailout, and they helped gm out, so gm now needs to step up and help out ohio. listen. >> we're trying everything we can to insure that those workers at lawrencetown get the support they deserve now to be able to build another product. we're not asking for charity. what we're asking for is to give the community and the work force the opportunity to once again show what they can do. >> reporter: and they talked about retooling maybe in...
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her appearance today follows gm's announcement last week that gm plans to close five plants effectively laying off thousands of workers. yesterday, she met with ohio senators, while she vowed to keep a quote, open mind about the future of that lordstown, ohio plant which has been open for 52 years, she wouldn't say she will reconsider because she didn't want anybody to get their hopes up. to fox business's edward lawrence, who got the exclusive interview with the embattled ceo mary barra yesterday, after day one. what are you hearing about day two so far? reporter: yeah, and from what i have heard, she's not planning on changing her mind and revisiting this restructuring plan they have gone through. what she's here to do is try to explain why they have to cut about 15,000 jobs and close four plants in the united states. now, her answer basically is that people stopped buying cars at those plants made. she said for the survival of gm going forward she needs to make this restructuring. that's also for the people who have retired, who have pensions relying on the company as well as investo
her appearance today follows gm's announcement last week that gm plans to close five plants effectively laying off thousands of workers. yesterday, she met with ohio senators, while she vowed to keep a quote, open mind about the future of that lordstown, ohio plant which has been open for 52 years, she wouldn't say she will reconsider because she didn't want anybody to get their hopes up. to fox business's edward lawrence, who got the exclusive interview with the embattled ceo mary barra...
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we'll see where that goes for gm. i think they have been outperformed by a number of companies and that's why they have had to come hat in hand. liz: it's been going on for decades. >> not to mention the subsidies. the government shouldn't be trying to steer that. the good news for gm is maybe they finally got the message. you are not going to get any more bailouts. you will have to take care of your balance sheet and do the right things. i was impressed that mary barra came to us and was speaking to us on the hill. liz: what about putting her feet to the fire. i watch mary barra. she is a great ceo. but listen closely to what she says. a lot of it is p.r. talk. is she going to move jobs to other factories in the u.s.? and is she going to stop outsourcing to mexico? we understand the economics of it and we understand the economics of tax breaks when you are not building factories that are flexible. >> the good news is a lot of that is happening in the u.s. when you tie that to what you were talking about earlier. the
we'll see where that goes for gm. i think they have been outperformed by a number of companies and that's why they have had to come hat in hand. liz: it's been going on for decades. >> not to mention the subsidies. the government shouldn't be trying to steer that. the good news for gm is maybe they finally got the message. you are not going to get any more bailouts. you will have to take care of your balance sheet and do the right things. i was impressed that mary barra came to us and was...
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Dec 10, 2018
12/18
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talk about tax reform and what it meant for gm and what gm said it was going to do. the tax numbers are actually not huge for gm. it's called net operating losses. the new gm was formed from the remnants of it, they were able to keep those. the tax issue is not a huge issue. it's not a big number. the company that third-quarter made to $25 billion in profits. -- $2.5 billion in profits. gm never said if we get the corporate tax cuts we are going to add more jobs. i think with tim ryan and -- and is a bipartisan anger think what caught gm by surprise was the level of anger toward the company. the result a lot of ribbing the band-aid off of the bailout. there is still anger toward the company. host: why was mary barra surprised by that? guest: gm position to this as we have to do this. these cars aren't selling. from a business standpoint gm thinks this makes sense. lordstown lost its first shift the day after the election. lost another shift earlier this year. it's down to one shift. authority lost 3000 workers at that land. -- plant. it is barely running. gm2 is youg
talk about tax reform and what it meant for gm and what gm said it was going to do. the tax numbers are actually not huge for gm. it's called net operating losses. the new gm was formed from the remnants of it, they were able to keep those. the tax issue is not a huge issue. it's not a big number. the company that third-quarter made to $25 billion in profits. -- $2.5 billion in profits. gm never said if we get the corporate tax cuts we are going to add more jobs. i think with tim ryan and --...
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Dec 28, 2018
12/18
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, but gm is focusing on the future. what do you think of that initiative? is it a win for them because they are focusing on electric vehicles and autonomous driving? >> right. right. now, of course, the layoffs have represented really, really bad print for general motors. the flipside of that is that gm under mary barra's leadership has really been showing and demonstrating for the last few years a real willingness and ability to look past the next quarter which is something gm historically has had a lot of trouble doing. so this new gm under mary barra is very future-focused. the company is really working very hard to see and cement their place in the future, you know, that's coming. these are things that are coming no matter what. tariffs are not. and the company is making some big changes to fit those future realities. i can't stress to you enough just how much of a behavior change this is for gm, to make very painful decisions now to ensure that they really have a place in tomorrow's future. kristina: at $33 right n
, but gm is focusing on the future. what do you think of that initiative? is it a win for them because they are focusing on electric vehicles and autonomous driving? >> right. right. now, of course, the layoffs have represented really, really bad print for general motors. the flipside of that is that gm under mary barra's leadership has really been showing and demonstrating for the last few years a real willingness and ability to look past the next quarter which is something gm...
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Dec 6, 2018
12/18
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our focus is on the gm team members that are impacted. >> reporter: gm is shifting truck and suv production in mexico, focusing on production of new vehicles and ending production on the chevy volt and cruz. >> we were really blindsided by this. we didn't expect it at all. >> reporter: it comes the same year that gm benefitted from president trump's corporate tax cut. congress now considering new laws that would remove corporate tax incentives for moving jobs overseas. >> we're asking for the opportunity to once again let our workforce shoha >> reporter: many analysts say gm's decision has provided some rare bipartisanship in washington. widespread condemnation with both republicans and democrats considering ways to punish the company. tom costello, nbc news, capitol hill. >>> now to those mystery investigations just revealed by robert mueller, the special counsel representing no prison time for michael flynn, president trump's former national security adviser. we're learning more tonight about why. here is nbc news justice correspondent pete williams. >> reporter: new court documents say r
our focus is on the gm team members that are impacted. >> reporter: gm is shifting truck and suv production in mexico, focusing on production of new vehicles and ending production on the chevy volt and cruz. >> we were really blindsided by this. we didn't expect it at all. >> reporter: it comes the same year that gm benefitted from president trump's corporate tax cut. congress now considering new laws that would remove corporate tax incentives for moving jobs overseas....
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gm's now shifting focus to building more electric cars. she says the laidoff workers can transfer to other plants, but for the michigan lawmakers she met with today, that doesn't cut it. is that enough? >> no. >> no. >> mary bruce live up on the hill tonight. and mary, the gm ceo made the point that few are buying the models made at those plants that are being closed, but so many people likely asking, is there any way to make any of the other better selling vehicles at those plants to keep them open? >> reporter: and david, barra was asked that question and she stressed they have many plants across the country, including some where they are launching new product lines, but she declined to comment directly on whether they would consider building new cars that do sell in the other plants in order to keep them open. david? >> mary bruce with us tonight. thank you, mary. >>> congress tonight delaying a vote on the government funding bill, including funding for the border wall. the money runs out tomorrow night. the congress has voted to delay
gm's now shifting focus to building more electric cars. she says the laidoff workers can transfer to other plants, but for the michigan lawmakers she met with today, that doesn't cut it. is that enough? >> no. >> no. >> mary bruce live up on the hill tonight. and mary, the gm ceo made the point that few are buying the models made at those plants that are being closed, but so many people likely asking, is there any way to make any of the other better selling vehicles at those...
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they're rated the best in the gm system. chairman portman and i will continue to ask her find a way, bringing production from mexico, whether building electric vehicle there, any one of electric vehicles there, they ought to build cars. this community had a threat like this 10 years ago. they fought back. they did a similar drive it home campaign way they're doing it now. we stand with the commune to get something in this plant, and keep these hundreds and hundreds, or thousands of gm workers -- >> we're late for vote. couple quick questions. >> nbc news. gm is benefiting from a massive corporate tax break in the last 12 months. also received $14 billion in taxpayer bailout money over last eight years or so. yes, repaid it but the question is, does this decision come as surprise to you given that history? >> we talked both of those issues as you can imagine. you're absolutely right. if you look at tax reform proposal it lowers the rate for general motors in terms of their income tax rate. as an example is 30%. we used to be
they're rated the best in the gm system. chairman portman and i will continue to ask her find a way, bringing production from mexico, whether building electric vehicle there, any one of electric vehicles there, they ought to build cars. this community had a threat like this 10 years ago. they fought back. they did a similar drive it home campaign way they're doing it now. we stand with the commune to get something in this plant, and keep these hundreds and hundreds, or thousands of gm workers...
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gm really is under fire. that's why mary barra is coming to the hill for a second straight day, to try and meet f with lawmakee to face and to send the company's plan. what ty're doing is closing four plants in the u.s., another one in canada. that would result in theoss of some 15,000 jobs. now, gm says that it's a tough decision, of course, and they're focused on their workers, but they st it's one tha had to be made. the sedans just aren't garnering the interesthey used to, so they're shutting down production there. they're focusing on electric cars and moving the production of a number of suvs and trucks to mexico. well, lawmakers are not so forgiving about all of this, especially when you look at the timing. it comes during the same year that gm receid tax benefits from the president's tax plan and also comes eight years after, of course, taxpayers shelled out some $13 billion for e auto bailout for gm only. now, keep in mind that this isi some that, you know, she's been really trying to defend. she's go
gm really is under fire. that's why mary barra is coming to the hill for a second straight day, to try and meet f with lawmakee to face and to send the company's plan. what ty're doing is closing four plants in the u.s., another one in canada. that would result in theoss of some 15,000 jobs. now, gm says that it's a tough decision, of course, and they're focused on their workers, but they st it's one tha had to be made. the sedans just aren't garnering the interesthey used to, so they're...
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Dec 13, 2018
12/18
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FBC
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. >> gm said, you know we'll wipe away 15% of workforce before christmas. you said, i want to talk. >> i called her, i did not like what she did, it was nasty. (toni vo) 'twas the night before christmas, and all thro' the house. not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. ...and i found out that i'ma from the big toe lian. of that sexy italian boot! so this holiday season it's ancestrydna per tutti! order your kit now at ancestry.com but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or
. >> gm said, you know we'll wipe away 15% of workforce before christmas. you said, i want to talk. >> i called her, i did not like what she did, it was nasty. (toni vo) 'twas the night before christmas, and all thro' the house. not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those...
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Dec 10, 2018
12/18
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he still hopes to work again at gm. >> the plant isn't just theof heartbeat ordstown. it supports the entire surrounding mahoning valley. >> we're tough, we're gonna persevere. >> reporter: lordstown's mayor, arno hill, says small businesses around the factory are suffering, too-- like ross's pub, the after-work watering hole just down the street om the plant. >> we're very small and a lot of other businesses and other communities are hurting just like us, if not worse. for every gm job, it's said that seven jobs outside can be directly affected. >> reporter: but, he insists there's still hope that motors will remain in the area. >> they're not permanently shuttering it. wso there's still hope th may get another plant and hopefully life goes on. >> reporter: meanwhile, in troit, employees like peggy jones are facing tough choices. they canpply for transfers based on seniority or wait for a new product that might never come. >> i can't sit around and wait for them to tell me that the plant's going to close. i can't sit there and 'til the last minute and then don't have
he still hopes to work again at gm. >> the plant isn't just theof heartbeat ordstown. it supports the entire surrounding mahoning valley. >> we're tough, we're gonna persevere. >> reporter: lordstown's mayor, arno hill, says small businesses around the factory are suffering, too-- like ross's pub, the after-work watering hole just down the street om the plant. >> we're very small and a lot of other businesses and other communities are hurting just like us, if not worse....
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Dec 11, 2018
12/18
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the gm plant used toork around the clock manufacturing the cruze. but signs of trouble began almost two years ago when the company started cutting hours and laying off workers. >> i'll watch bella. >> rorter: tommy wolikow and his fiancÉe, rochelle carlisle, met while working at the factory. they both lo their jobs on the same day in that first round of layoffs. >> when we walked out it was a surreal feeling, it was quiet as a church mouse. now still no one knows what's going to happen. it's like we've just been left to... left out to dry. >> i feel like its kind of corporate greed because gm's profiting more than they ever did in their history. >> reporter: rochelle has been supporting them and eir daughters by working as a waitress. l t friday, tommy finally got a new job as a diechnician. here in 2016, president trump turned trumbull county-- whiches inclordstown-- from blue to red. he vowed to keep and evens increase j auto manufacturing towns like this one. but now, some in lordstown say those words ring hollow. >> let me tell you folks in ohi
the gm plant used toork around the clock manufacturing the cruze. but signs of trouble began almost two years ago when the company started cutting hours and laying off workers. >> i'll watch bella. >> rorter: tommy wolikow and his fiancÉe, rochelle carlisle, met while working at the factory. they both lo their jobs on the same day in that first round of layoffs. >> when we walked out it was a surreal feeling, it was quiet as a church mouse. now still no one knows what's going...
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how about gm's tone deaf timing of this announcement? which of the brilliant gm executives decided a few days after thanksgiving a month by christmas, this would be the absolute perfect moment to announce they decided to destroy livelihoods of 15,000 gm workers. that took genius didn't it. what did ceo mary barra expect, applause? could general motors keep 15,000 jobs in mexico while killing jobs in america and still expecting americans to buy their cars and their trucks? do they really believe americans will buy products from any company that closes four plants in the united states, keeps five open in mention co, maintaining largest number of factories in mexico of any u.s. carmaker with more employees in mexico than any other carmaker? what about the huge tax break that president trump gave corporate america? you can think you can tell american workers to go to hell, take advantage of american tax breaks for business, not so much as a faint, faint thank you? any sign of contrition? okay, no contrition. how about investing many of those
how about gm's tone deaf timing of this announcement? which of the brilliant gm executives decided a few days after thanksgiving a month by christmas, this would be the absolute perfect moment to announce they decided to destroy livelihoods of 15,000 gm workers. that took genius didn't it. what did ceo mary barra expect, applause? could general motors keep 15,000 jobs in mexico while killing jobs in america and still expecting americans to buy their cars and their trucks? do they really believe...
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Dec 5, 2018
12/18
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., >> tod're announcing our plan to, over time, cease production at ford/gm truck assembly plants. >> these gas prices, they're not going down... >> macgillis: in 2008, gm closed its massive dayton operation, citing rising gas prices and plunging sales. >> it sounds like tough times in dayton, ohio... >> gm will close the plant for t good lats year, two days before christmas. >> mgillis: it was one of th last big auto plants in a town that once had more auto industre jobs than an but detroit. >> we produced quite a few gm brands-- gmc envoy, the isuzu ascender, saab, buick, oldsmobile. >> basically, it is a shift in strategy. >> macgillis: rodney brickey was one of more than 2,000 gm workers laid off that day. back when his father wstarting there. >> the insurance was pretty much unbeatable, and the wages were pretty high. i'd say it probably averaged out around $35 an hour. >> when the plant closed here, economically it was devastating for this area. >> bause when you're making that kof money and something like this closes, it's next to impossible to find something that's w compatibl
., >> tod're announcing our plan to, over time, cease production at ford/gm truck assembly plants. >> these gas prices, they're not going down... >> macgillis: in 2008, gm closed its massive dayton operation, citing rising gas prices and plunging sales. >> it sounds like tough times in dayton, ohio... >> gm will close the plant for t good lats year, two days before christmas. >> mgillis: it was one of th last big auto plants in a town that once had more auto...
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Dec 5, 2018
12/18
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now gm needs to stand by ohio. barra is also going to be meeting with the maryland delegation later on this afternoon. there's a plant in baltimore that's also facing reduced workforce as well, and then tomorrow she's going to do it all again. she will be meeting with michigan's delegation tomorrow representative debby dingle is one of the strongest allies of gm who has turned into a critic. show has called gm the most disliked company in d.c. right now. she is threatening to oppose the new u.s. mca and also support ending electric vehicle tax credits if gm doesn't make any changes. now, we're told that mary barra will be making comments to reporters after these meetings melissa, if she makes any news, we'll be bringing it to you. >> is it your sense that this is sort of a state-by-state offensive on gm, the states that are the most impacted by these close, or is there a broad support for larger action against gm >> reporter: absolutely. she wants to make sure that sort of gm's hometown delegations are melt with, t
now gm needs to stand by ohio. barra is also going to be meeting with the maryland delegation later on this afternoon. there's a plant in baltimore that's also facing reduced workforce as well, and then tomorrow she's going to do it all again. she will be meeting with michigan's delegation tomorrow representative debby dingle is one of the strongest allies of gm who has turned into a critic. show has called gm the most disliked company in d.c. right now. she is threatening to oppose the new...
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Dec 2, 2018
12/18
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BLOOMBERG
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gm announces cutbacks. this as the auto industry copes with headwinds. >> the focus right now is on business as usual. >> the conversations around tarrifs, trade wars bring in uncertainty. sophia: despite fears of a global oil glut, the ceo of saudi aramco sees opportunities. >> we are not only looking at oil, but gas, energy, and that chemicals. sophia: and as investors navigate volatile markets, they tell us what they see on the horizon. >> the inflation rate one year from now is going to be exactly where it is today. >> i joke around, both internally and externally, i don't even know what i am rooting for every day. sophia: that's all straight ahead on "bloomberg best." hello and welcome. i'm sophie kamaruddin. this is "bloomberg best," your review of the most important business news and analysis from bloomberg television. let's start with a day by day look at the top headlines. over the weekend, the u.k. and the european union agreed to terms of separation from the bloc, but persuading parliament to app
gm announces cutbacks. this as the auto industry copes with headwinds. >> the focus right now is on business as usual. >> the conversations around tarrifs, trade wars bring in uncertainty. sophia: despite fears of a global oil glut, the ceo of saudi aramco sees opportunities. >> we are not only looking at oil, but gas, energy, and that chemicals. sophia: and as investors navigate volatile markets, they tell us what they see on the horizon. >> the inflation rate one year...
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Dec 28, 2018
12/18
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KPIX
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where a gm plant shut down ten years ago. dean reynolds went back there. >> reporter: slowly, painfully, the one thing that put jamesville, wisconsin, on the map is being torn down and carried away. there are nine decades of general motors history here, buicks and chevys and confidence. >> and we're on the shop floor here. >> reporter: you're on the shop floor, what was the plant. gayle price is jamesville's economic development. >> we're kind of in a tomb. >> reporter: yeah, we're standing where thousands of people were employed at one time. but ten years ago gm hit the brakes. the factory never opened again. suppliers went broke, downtown businesses sag and incomes plummeted. >> there was a lot of divorces, people lost their houses. >> debbie was at gm for 23 years. >> it must be kind of melancholy to drive by it and see what's happening. >> i feel kind of sad when i go by, but i'm also glad that they're doing something with it. >> reporter: a developer now owns the property and the city hopes for six to eight new plants he
where a gm plant shut down ten years ago. dean reynolds went back there. >> reporter: slowly, painfully, the one thing that put jamesville, wisconsin, on the map is being torn down and carried away. there are nine decades of general motors history here, buicks and chevys and confidence. >> and we're on the shop floor here. >> reporter: you're on the shop floor, what was the plant. gayle price is jamesville's economic development. >> we're kind of in a tomb. >>...
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xpayers shelling out $13 billion to help gm out of the hole. so lawmakers are looking at ways for punishment, but there's already one congressman who's pushing back on that idea, saying, look,want to keep gm profitable. that's what's best foeramerican wo and saying that introducing any sort of punishment to the coany would be counterintuitive to that. guys? a all right. blaynexander live from capitol hill. thanks so much. >>> it's now 5:48. montgomery count schools want to increase its budget by $55 million. this is all part of a budget proposal for the 2020 fiscal year. some of the p plan include expanding career and technical programs, hiring expanding, and programs that allow students to get their associates degree while stilln high school. the board will discuss the budget on december 18th. >>> well, a school's name and evokeical connection c a range of emotion. this week, arlington county school board will receive some op ons to name a new middl school and rename an existing one. the new middle school is under construction, going up now at
xpayers shelling out $13 billion to help gm out of the hole. so lawmakers are looking at ways for punishment, but there's already one congressman who's pushing back on that idea, saying, look,want to keep gm profitable. that's what's best foeramerican wo and saying that introducing any sort of punishment to the coany would be counterintuitive to that. guys? a all right. blaynexander live from capitol hill. thanks so much. >>> it's now 5:48. montgomery count schools want to increase its...
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Dec 6, 2018
12/18
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why gm felt the need to lay off 15,000 workers and all the supply chain op as well at a time when the company is experiencing record profits. mary barra back on the hill. >> do workers deserve better after taxpayers bailed you out? >> reporter: facing questions from congress after the company announced they're laying off 15,000 workers and closing four plants in michigan, maryland and ohio. >> just as the workforce has helped general motors we expect general motors to stand with this workforce and give them a chance. >> reporter: in lordstown, ohio, where gm is closing its chevy cruze plant, this woman is worried how she'll support her family. >> it's going to be a struggle if they close this plant or we sit idle because there's no good-paying jobs around here. >> reporter: to focus on new electric vehicles. meanwhile it's shifting truck and suv production to mexico. but barra won't commit to moving the new vehicle production to plants now set to close. layoffs and plant closings come eight years after they spent $13 billion bailing it out, money gm repaid. >> you benefitted from a ba
why gm felt the need to lay off 15,000 workers and all the supply chain op as well at a time when the company is experiencing record profits. mary barra back on the hill. >> do workers deserve better after taxpayers bailed you out? >> reporter: facing questions from congress after the company announced they're laying off 15,000 workers and closing four plants in michigan, maryland and ohio. >> just as the workforce has helped general motors we expect general motors to stand...
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Dec 2, 2018
12/18
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CNNW
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that's why i talked about gm greed. they've made a choice to put money in their pockets rather than investing in lordstown and other places around the country. >> i want to ask you a couple of political questions. senator claire mccaskill blamed her loss on a failure to gain trust with rural americans. y you touted your re-election, talking about the dignity of work. exit polls show you also lost rural voters by 14 points in ohio. why did they vote against you? >> well, rural voters are becoming more republican, metropolitan area voters are becoming more democratic. a whole host of reasons. when it comes to me i did reasonably well in rural areas. we always could do better. it comes down to me the dignity of work. if you love your country, you fight for the people who make it work, whether they punch a cl k clock, swipe a badge, work for a salary or tips, whether they're raising children or caring for an aging parent and i don't think democrats speak to workers enough about the dignity of work and about the respect we s
that's why i talked about gm greed. they've made a choice to put money in their pockets rather than investing in lordstown and other places around the country. >> i want to ask you a couple of political questions. senator claire mccaskill blamed her loss on a failure to gain trust with rural americans. y you touted your re-election, talking about the dignity of work. exit polls show you also lost rural voters by 14 points in ohio. why did they vote against you? >> well, rural voters...
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Dec 2, 2018
12/18
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that's a business where gm can't make money. it makes sense in any business to focus on product lines where you can be successful. paul: let's take electric subsidy point. the government subdies the purchase of any electric car, $7,500. >> $7,500 until you run out of th200,000 cars. paul: i think gm is below that. so what if we cut that up? why are they getting subsidies? >> it's partly to compensate them for fuel economy mandates that require them to make electric cars. the mandatesno offset the expene sof the big vehicles where gm makes all thend money, like the pickup trucks and the large suvs. so the deal that the car companies cut with washington is all right, we'll meet your wish that we build electric cars and you'll give us a lotng of credit for those on the fuel economy rules. so it's a complicated morase that's going on. paul: i assumete you would support getting rid of the subsidies. >> and the fuel economy. paul: you campaigned against all of those for your entire life. >> i would favor getting rid of the 25% import
that's a business where gm can't make money. it makes sense in any business to focus on product lines where you can be successful. paul: let's take electric subsidy point. the government subdies the purchase of any electric car, $7,500. >> $7,500 until you run out of th200,000 cars. paul: i think gm is below that. so what if we cut that up? why are they getting subsidies? >> it's partly to compensate them for fuel economy mandates that require them to make electric cars. the...
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at the same time, what about german carmakers using idle plants from gm or ford? do you think that is something pitched at the white house? >> i wouldn't be surprised if they did. important to note these german auto manufacturers, vw, make majority of all suvs exported around the world and sold in the united states in the south, places like south carolina. the german auto companies are invested in the u.s. it might be easier for them to weather some of the tariff storm but what you're seeing i think as it relates to mary barra and german automobile manufacturers, mary barra and gm somehow managed to anger everybody on both sides of the aisle related to this. i think it is little bit harder for gm to make the argument because they took a government bailout. you're not talking about a private independent government sector. you're talking about someone saved by the united states government and president trump, democrats, republicans alike in the midwest feel some ownership. the positive news there, what they said they're not actually entirely closing these gm plants.
at the same time, what about german carmakers using idle plants from gm or ford? do you think that is something pitched at the white house? >> i wouldn't be surprised if they did. important to note these german auto manufacturers, vw, make majority of all suvs exported around the world and sold in the united states in the south, places like south carolina. the german auto companies are invested in the u.s. it might be easier for them to weather some of the tariff storm but what you're...
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Dec 29, 2018
12/18
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. >> did gm and its legacy in flint play a role, in your view, in this water crisis? >> yes. in a multi-faceted way. on one hand, we saw the devastation that can come when a community, a whole region, is so dependent on one single company like this, and decades of changes in that industry caused a lot of problems for the folks who depended upon it. but gm actually is still a major source of jobs in the community and one of the more interesting stories about the water crisis is how its engine plant in flint, in october of 2015, said that this new changed water was so bad it was corroding the parts and that they couldn't do their work anymore, they needed to switch to a suburb's water source which was still getting its water from detroit. this should have been a red flag, but nonetheless, the community of flint was told even though the water isn't good enough for gm's machinery, it's good enough for you to drink. >> anna clark, when that switch was made, did somebody make money by getting a contract to make the switch or to -- >> not enough people ask about that. i think the na
. >> did gm and its legacy in flint play a role, in your view, in this water crisis? >> yes. in a multi-faceted way. on one hand, we saw the devastation that can come when a community, a whole region, is so dependent on one single company like this, and decades of changes in that industry caused a lot of problems for the folks who depended upon it. but gm actually is still a major source of jobs in the community and one of the more interesting stories about the water crisis is how...
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a small loss for gm. a small loss for united technologies, trade sensitive issues on the downside. >>> nancy pelosi and chuck schumer head to the white house next tuesday. they will meet with president trump. they're talking funding for the border wall. martha maccallum with us, host of "the story." i'm told other democrats are worried that schumer and pelosi will hand over too much to president trump? >> it is classic in terms of the way things are operating right now. you have the progressive wing of the party, which considers any money at all goes towards border security an aggressive move against immigrants essentially. the other side of the story for democrats, interested in making some sort of deal they can essentially get the issue of border security off the table. they don't want to be accused of being, you know, loose at the border, not taking this issue seriously because americans see the images all over their television. they know that there is a porous border. you can't have a country without
a small loss for gm. a small loss for united technologies, trade sensitive issues on the downside. >>> nancy pelosi and chuck schumer head to the white house next tuesday. they will meet with president trump. they're talking funding for the border wall. martha maccallum with us, host of "the story." i'm told other democrats are worried that schumer and pelosi will hand over too much to president trump? >> it is classic in terms of the way things are operating right now....
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Dec 1, 2018
12/18
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BLOOMBERG
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gm doesn't bring in much from other countries. there is not much you can do there. >> a surprise turn in the mue ller investigation. n pleading guilty to a new charge. >> the new charge, different from the charge three months ago. it pertains to russia. all the allegations and the reason he was appointed special counsel, to look at ties between the trump campaign and russia. there was a real estate development project but ited in 20165, stopped before the iowa caucuses. the plea is that it was false. continued into june, after he had secured the nomination. this is a significant development. >> he is trying to get a reduced sentence. he is lying about a project everybody knew about it. we were very open and we were thinking about building a building. i don't knowion, what you would call it. i dissent ultimately not to do it. there would have been nothing -- decided not to do it. there would have been nothing wrong if i did do it. ♪ ♪ >> you are watching bloomberg best. oil prices fell more than 20% in the month of november, an
gm doesn't bring in much from other countries. there is not much you can do there. >> a surprise turn in the mue ller investigation. n pleading guilty to a new charge. >> the new charge, different from the charge three months ago. it pertains to russia. all the allegations and the reason he was appointed special counsel, to look at ties between the trump campaign and russia. there was a real estate development project but ited in 20165, stopped before the iowa caucuses. the plea is...
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Dec 30, 2018
12/18
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heading back to work at gm as an enginee after taking 15 years off to be a mom. it's part of gm's re-hiringnitiative called take two, aimed largely at women just like aboth in have technical expertise. how would you say take two has changed your life here since you've decided to take the plunge? >> i would have never lieved that years ago when i was going to stay home, did i ever even have any idea that i was g to return in my 40s, doing the same type of role when i was in my 20s, with a completely different >> i've learned a tremendous amount. >> reporter: take two ly is essential 12-week paid tryout giving prospective employees a chance to see if th timing is right for them to return, giving the company a chance to see if their skills are good fi >> i sacrificed ten years of my career, but the seed that was plant is blossoming e'ow in my life. >> th no way for someone who has been out of the workforce for 18 yo re-engage without a program like this. >> reporter: of the people who have particular tissed 87% were offered full-time jobs, all but one accepting. >>
heading back to work at gm as an enginee after taking 15 years off to be a mom. it's part of gm's re-hiringnitiative called take two, aimed largely at women just like aboth in have technical expertise. how would you say take two has changed your life here since you've decided to take the plunge? >> i would have never lieved that years ago when i was going to stay home, did i ever even have any idea that i was g to return in my 40s, doing the same type of role when i was in my 20s, with a...
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it's skated bureaucratic and gm is trying to protect investment. paul: i assume you support get rid of subsidies? [inaudible conversations] >> it could also be in favor of getting ready the 25% tariff on pickup trucks which is how the big three run their business now. they are already running based on a protected thoracic market. paul: here is what trump would say that. that's work. we are making trucks and suvs here and why can we do the same on cars? >> that's what he has proposed. if you look at the top 20 cars sold in the essex sedans in that ranking in all six are made by that japanese makers. they make them in the us and they would be the beneficiaries of a tariff that would let them raise prices like they did in 1981 when reagan put tariffs or import resection on japanese cars. the price of the japanese car went up and the foreigners made all the money from that we want it would not do any good for american workers in the end. >> no, chrysler and gm and ford is built around this pickup truck so they are sitting pretty right now i don't need
it's skated bureaucratic and gm is trying to protect investment. paul: i assume you support get rid of subsidies? [inaudible conversations] >> it could also be in favor of getting ready the 25% tariff on pickup trucks which is how the big three run their business now. they are already running based on a protected thoracic market. paul: here is what trump would say that. that's work. we are making trucks and suvs here and why can we do the same on cars? >> that's what he has...
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Dec 18, 2018
12/18
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KRON
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the ocean incredible views but it's too close when there is high surf sound- steve shaw - assistant gm, moonraker restaurant, pacifica "430am 3 waves hit us got a broken window and structure damage" thisis the not first time the ocean took out one of moonraker's windows, in january 2017 almost the exact same thing happened a rogue wave crashed into the restaurant breaking a window and flooding their lower level banquet room. sound- steve shaw - assistant gm, moonraker restaurant, pacifica "same thing, different window, we are unlucky" in pacifica gabe slate kron 4 news . ( robin ) the san francisco planning commission is ordering a property owner to rebuild an exact replica of a home they say he illegally demolished. kron 4's maureen kelly has reaction to this unprecidented decision. here's a photo that shows what the largent house looked like before it was torn down. the 1936 home was designed by premiere modernist architect richard neutra. the one bedroom home was sold in 2017 for 1-point-7 million last year. the owner got permission to expand it while still perserving the first floo
the ocean incredible views but it's too close when there is high surf sound- steve shaw - assistant gm, moonraker restaurant, pacifica "430am 3 waves hit us got a broken window and structure damage" thisis the not first time the ocean took out one of moonraker's windows, in january 2017 almost the exact same thing happened a rogue wave crashed into the restaurant breaking a window and flooding their lower level banquet room. sound- steve shaw - assistant gm, moonraker restaurant,...
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Dec 13, 2018
12/18
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. >> neil: gm shares following after the president issue that warning over plans that gm has two close up five plants in north america. mary barra as she has no other choice. better to deal with these issues now rather than later on. real clear market editor joins us. >> president trump telling mary barra how to run our car company is the equivalent of her telling him how to put up tall buildings in new york city. what's important to realize is that companies have shareholders. mary barra works for shareholders. if she's not focused every down and reaching shareholders, there will be no company no jobs to begin with. if disappointing. their job is not to please presidents. it is to please their owners. >> neil: the point that she moved too quickly and use the tariff issue as an excuse. what do you think about? >> again, imaginative hillary clinton said that about a company, that they didn't wait for me or they made this decision without my permission. it's a very dangerous process. let's face it. the tariffs would be one factor in a company shutting down plants. they are once again in
. >> neil: gm shares following after the president issue that warning over plans that gm has two close up five plants in north america. mary barra as she has no other choice. better to deal with these issues now rather than later on. real clear market editor joins us. >> president trump telling mary barra how to run our car company is the equivalent of her telling him how to put up tall buildings in new york city. what's important to realize is that companies have shareholders. mary...
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Dec 7, 2018
12/18
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>> guest: the gm issue that prime minister trudeau was a huge one. i was out at capitol hill two days ago looking when ohio's two senators had just met with gm ceo about this issue. they didn't getting commitments either way but it's a huge issue because this plant in all i looks like it would be idle. it would tohe get production ba. terry has lost a plant, jean plant that is been there forever. we don't know this is going to resonate in a nafta debate but it probably will be there because the trump administration has tried to bring our jobs bao this country. it may not be directly related not much to nafta for use in ca but it is going to be something that's debated next year. >> guest: there's always of the factors that go into this. the one that intrigue me is a few years ago 50% of the vehicles sold in this country were passenger cars. now it's 30%. americans are switching to trucks, suvs, crossover vehicles so there's been a significant decline in demand for what those plantsha produce. i don't know if, why gm do what it did or that made the ri
>> guest: the gm issue that prime minister trudeau was a huge one. i was out at capitol hill two days ago looking when ohio's two senators had just met with gm ceo about this issue. they didn't getting commitments either way but it's a huge issue because this plant in all i looks like it would be idle. it would tohe get production ba. terry has lost a plant, jean plant that is been there forever. we don't know this is going to resonate in a nafta debate but it probably will be there...
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Dec 14, 2018
12/18
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FBC
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gm stock getting hurt, sean ohara, have a good weekend. >> thank you,.lauren and cheryl. cheryl: slowest retail sales and industrial output numbers that we have seen, we haven't seen the numbers in years out of china but countering all of this there are reports right now that the saudis plan to cut exports starting in january but have they been flooding the market ahead of that cut, let's bring in fill flynn, price futures group at cme, interesting moves by the saudis, phil, good morning. phil: good morning, you bet they have, they were flooding the oil market ahead of opec meeting and that was message to opec members, if i want production cut you better cut on board because we still have the ability to flood the market but they have definitely reversed that initial surge in production and we are hearing from tanker tracker firms across the globe that the oil exports out of saudi arabia have basically dropped almost zero, zero, so they are serious about this, they want to send a message to donald trump that, hey, you know what, when you -- when we raise production to help
gm stock getting hurt, sean ohara, have a good weekend. >> thank you,.lauren and cheryl. cheryl: slowest retail sales and industrial output numbers that we have seen, we haven't seen the numbers in years out of china but countering all of this there are reports right now that the saudis plan to cut exports starting in january but have they been flooding the market ahead of that cut, let's bring in fill flynn, price futures group at cme, interesting moves by the saudis, phil, good morning....
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Dec 31, 2018
12/18
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heading back to work at gm as an engineer after taking 15 years off to be a mom. it's part of an initiative called take two aimed largely at women just like annette. > i would have never believed that years ago when i was going to stay home did i ever even have any idea i was going to return in my 40s doing the same type of role whe i was in my 20s with a completely different outlook. >> i've learned tremendous amount. >> reporter: it's a 12-week pay tryout, a chance for them to see if the timing is returned and r the company to see if their skills fit. >> the seed that was plant is blossoming now in my life. >> there's no way someone who's been out of the workforce for 18 years to reengage without a program like this.te >> repr: 87% were offered full-time jobs at gm. all but one acsuspected. >> into stem space and engiering. we've expand under to it, finance, customer care and after sales. >> reporter: for annette, her professional passion may have been on hiatus but hadn't disappeared. a career act two at gm, the intermission as long b it needs toe. wow, that's
heading back to work at gm as an engineer after taking 15 years off to be a mom. it's part of an initiative called take two aimed largely at women just like annette. > i would have never believed that years ago when i was going to stay home did i ever even have any idea i was going to return in my 40s doing the same type of role whe i was in my 20s with a completely different outlook. >> i've learned tremendous amount. >> reporter: it's a 12-week pay tryout, a chance for them to...
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i learned gm asked for managers, middle managers to take a buyout. they needed 8,000 of them to take a buyout. that number did not happen as of last november. which means coming january, end of january, there will be more layoffs of middle manager, vice president level. gm trying to shrink the executive force now by 25%. back to you, melissa. melissa: thank you, edward lawrence. connell. connell: you know, melissa that is kind of a perfect transition for to us talk about some of these economic issues and how they become political issues. no better place really to do it than here in pennsylvania. such a key state where president trump won in 2016. it will be a major battleground in 2020. you know, if you look at the market losing nearly 900 points in two trading days, a reminder to some that the economy will be on voters minds, in states like this. what we did, we hit the streets to talk to the voters of pennsylvania, get a sense what they're thinking f they think the president can indeed win a second term. take a look. >> economywise, i think he is n
i learned gm asked for managers, middle managers to take a buyout. they needed 8,000 of them to take a buyout. that number did not happen as of last november. which means coming january, end of january, there will be more layoffs of middle manager, vice president level. gm trying to shrink the executive force now by 25%. back to you, melissa. melissa: thank you, edward lawrence. connell. connell: you know, melissa that is kind of a perfect transition for to us talk about some of these economic...
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Dec 7, 2018
12/18
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CNBC
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thing, it looks great based on future cash flows and future earnings i'm really concerned about the gm announcement. i know it's one company but that doesn't happen in a vacuum ford has to follow unless, unless, here's the positive outcome, you do get a resolution on trade until you get that, i'm a little nervous my projection and lee's might be too high. >> what's a resolution look like >> i totally agree with you. >> is a resolution a tweet >> josh, what you're implying, it's hard to put meat on those bones and that's why i'm nervous. >> we're in a bear market globally >> more than half are below. nothing is stealth >> it's stealth in the way it's been discussed no one has declared a bear market this has been a gut wrenching year a sign, again, of bear market activity and going on close to 11 months. >> what if the fed is, in fact, easier than people thought they would be you go in december let's assume they go in december in a couple of weeks and then wait what happens >> the offset is exactly what you have been talking about. the issue is nobody can get their arms around future cas
thing, it looks great based on future cash flows and future earnings i'm really concerned about the gm announcement. i know it's one company but that doesn't happen in a vacuum ford has to follow unless, unless, here's the positive outcome, you do get a resolution on trade until you get that, i'm a little nervous my projection and lee's might be too high. >> what's a resolution look like >> i totally agree with you. >> is a resolution a tweet >> josh, what you're...
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morgan stanley, is saying that a restructuring at ford could cut even more jobs than gm, gm, just announced 15,000 jobs were to be cut gm ceo barra meeting with hae senators tomorrow to talk about cut backs what is your plan, in terms of stopping that, in terms of alleviating the auto sector your reaction to weakness with all jobs created the last year and half? >> well maria you know the auto industry although people focus on it is an industry at ultimate that at the end of the day consumers buy cars suvs light trucks, trucks it is a very big market. and my understanding is that gm has to just kind of restructure some of their demand what we're seeing particularly with lower gas prices, is additional flan for suv light trucks strong demand less demand for the small passenger vehicle i think as you know in the manufacturing process, of autos, they got a retool factories, i am not i am not aware of the exact specifics but i hope that gm can retool these plants for other factories that they can move things around i think one of the big focuses of the industry how can they use new technology s
morgan stanley, is saying that a restructuring at ford could cut even more jobs than gm, gm, just announced 15,000 jobs were to be cut gm ceo barra meeting with hae senators tomorrow to talk about cut backs what is your plan, in terms of stopping that, in terms of alleviating the auto sector your reaction to weakness with all jobs created the last year and half? >> well maria you know the auto industry although people focus on it is an industry at ultimate that at the end of the day...
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Dec 8, 2018
12/18
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ontario has lost a gm plant that has been there forever. we do not know how this will resonate in the nafta debate, but it will probably be there because the trump administration is trying to bring auto jobs back to the country. gm's decision may not be directly related to nafta or usmca, but it will be debated next year. guest: there are always other factors. a few years ago 50% of the vehicles sold in this country were passenger cars. now it is 30%. americans are switching to trucks, suv's, and crossover vehicles. there has been a significant decline in demand of what produce.tories i don't know why gm did what it did or if it made the right decision, but when people stop buying passenger cars and buy trucks, you make more trucks and fewer passenger cars. that leads to changes like this. what car executives have to figure out is in three years is demand going to shift back and we will be caught short? host: when the prime minister says we will fight for workers and their families, what options does he have? see ifthe biggest is to you can
ontario has lost a gm plant that has been there forever. we do not know how this will resonate in the nafta debate, but it will probably be there because the trump administration is trying to bring auto jobs back to the country. gm's decision may not be directly related to nafta or usmca, but it will be debated next year. guest: there are always other factors. a few years ago 50% of the vehicles sold in this country were passenger cars. now it is 30%. americans are switching to trucks, suv's,...