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11-26-2018, 03:34 PM
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#1
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,732
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General Motors
GM started the day off by cutting 10,000 jobs, now they are up to 14000 cuts and the stock is flying.
they got the tax breaks and gave the money to higher dividend payoffs.
https://finance.yahoo.com/video/gene...191059922.html
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11-26-2018, 03:40 PM
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#2
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Registered User
Join Date: Dec 2012
Location: Philadelphia area
Posts: 9,609
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Quote:
Originally Posted by lamboguy
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Another article I read stated that they are moving their focus more to Electric and autonomous vehicles. Just what we need...overpriced cars that need to be plugged in and cars that drive by themselves. 
__________________
A wet track can cause handicapping havoc!!
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11-26-2018, 03:52 PM
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#3
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Just another Facist
Join Date: Mar 2002
Location: Now in Houston
Posts: 52,761
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Leave it to GM to tank in a great economy.
https://www.theverge.com/2018/11/26/...ion-chevy-volt
They’ve wasted so much money...... 
I spend two days a week visiting car dealerships and lots of people saw this coming, but predicted it after the new year
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WE ARE THE DUMBEST COUNTRY ON THE PLANET!
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11-26-2018, 04:23 PM
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#4
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,766
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https://www.usatoday.com/story/money...ts/2113275002/
Wow.
I spent a lot of time in both Hamtramck and Oshawa.
Detroit was nice because it was next to Greek Town and I always had lunch there. Loved the Street Chicken.
Oshawa was nice because I had to drive by Woodbine to get there.
Always tried to go on Wednesdays because they raced at night. 
__________________
Who does the Racing Form Detective like in this one?
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11-26-2018, 05:04 PM
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#5
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Registered User
Join Date: Jul 2013
Posts: 17,095
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Quote:
Originally Posted by Tom
Loved the Street Chicken.
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A fancy name for pigeon. 
__________________
A man's got to know his limitations. -- Dirty Harry
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11-26-2018, 06:02 PM
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#6
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Registered User
Join Date: Dec 2015
Location: Toronto
Posts: 1,934
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This hurt's the Trump agenda of bringing back jobs to America. Not sure there is much he can do about it.
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11-26-2018, 06:25 PM
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#7
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,732
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Quote:
Originally Posted by azeri98
This hurt's the Trump agenda of bringing back jobs to America. Not sure there is much he can do about it.
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not trying to defend Trump, but that company sucked long before he even dreamt of running. GM got handed plenty of free government money and still can't make a go of it. they had no business bailing them out.
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11-26-2018, 06:43 PM
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#8
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Registered User
Join Date: Mar 2015
Location: Diez meses en Port St. Lucie, FL; two months in the Dominican Republic
Posts: 4,355
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A tale of two cities.
14,000 layoffs in Michigan,Ohio,Maryland and Ontario.
5 % stock gain for GM on Wall Street.
__________________
"But don't ask me what I think of you, I might not give the answer that you want me to. "
Fleetwood Mac, Oh Well, Part 1 (1969)
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11-26-2018, 06:48 PM
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#9
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Registered User
Join Date: Jul 2013
Posts: 17,095
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Quote:
Originally Posted by barahona44
A tale of two cities.
14,000 layoffs in Michigan,Ohio,Maryland and Ontario.
5 % stock gain for GM on Wall Street.
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Yet another reminder that the stock market is not the real economy.
__________________
A man's got to know his limitations. -- Dirty Harry
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11-26-2018, 06:51 PM
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#10
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Registered User
Join Date: Dec 2015
Location: Toronto
Posts: 1,934
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Quote:
Originally Posted by lamboguy
not trying to defend Trump, but that company sucked long before he even dreamt of running. GM got handed plenty of free government money and still can't make a go of it. they had no business bailing them out.
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Agree the company has been terrible for years, no vision for the future
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11-26-2018, 06:54 PM
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#11
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Registered User
Join Date: Dec 2011
Posts: 4,285
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Quote:
Originally Posted by Clocker
Yet another reminder that the stock market is not the real economy. |
It generally reflects the economy. Cutting 14,000 unproductive jobs should help the company prosper going forward, at least you would hope so.
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11-26-2018, 08:05 PM
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#12
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Registered User
Join Date: Mar 2013
Posts: 5,414
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looks like GM is on the home stretch to tits updom
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11-26-2018, 08:34 PM
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#13
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,766
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They got a big government bailout, then got tax breaks, now they turn around and screw the country. I said back in 2006 we should have let them go under.
Hope the UAW really stick it to them on this one.
__________________
Who does the Racing Form Detective like in this one?
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11-26-2018, 09:12 PM
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#14
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Registered User
Join Date: Mar 2005
Location: Queens, NY
Posts: 20,599
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The auto industry has been showing signs of weakness for awhile. It's very cyclical. The companies push cars out with incentives and cheap credit, the public buys a lot of new cars (the boom), and then the demand naturally falls off for awhile until people start replacing them. We've been entering the late part of cycle. If anything, the Trump policies delayed the inevitable by putting more cash out there to stimulate demand, but the party for autos is either over or close to it.
What they should not be doing is moving any jobs overseas.
If they are doing that, then we still have a significant competitive disadvantage and free trade is going to continue gutting even more manufacturing despite the lower tax rate and reduced regulations. But don't worry, those that haven't been gutted into poverty yet can still get a cheaper car.
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"Unlearning is the highest form of learning"
Last edited by classhandicapper; 11-26-2018 at 09:15 PM.
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11-26-2018, 09:14 PM
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#15
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Multiply 14000 by two or three.
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One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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