ErasmusB_FurmanSmalls avatar Money & Economics
2 5

Obama saved the auto industry, and of course Trump will be taking it down due to his tariffs on steel, etc. We will be in a recession soon if Trump is still in the White House.

Salaried workers = management types
No mention of how many hourly workers?
Nor if the production is being picked up by more efficient automation at other factories (which would also explain laying off management types as they aren't necessary to oversee robots)

Obama bailed out the auto industry , covering the unsustainable union retirement contracts.
It was a stupid, politically motivated decision.
Ford weathered the storm without the bailout.
I think it's GM's turn now.

Why close those plants? Why not give those workers a car that does sell? They don't care what they build, as long as they are able to work and support their families.
Also, releasing this news on the first day back to work after Thanksgiving and just before Christmas is really a cold move on the part of GM.

let failing companies die

unknownconditions avatar unknowncondition Yes, This happened about 10 years ago to 0Reply
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