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PostPosted: Tue Nov 27, 2018 1:56 pm
 


Title: Trump threatens to cut all GM subsidies
Category: Business
Posted By: Robair
Date: 2018-11-27 12:53:53


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PostPosted: Tue Nov 27, 2018 1:56 pm
 


Do it do it do it DO IT.

But not until USMCA is a done deal...


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PostPosted: Tue Nov 27, 2018 2:00 pm
 


I say fucking Nuke them...


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PostPosted: Tue Nov 27, 2018 2:09 pm
 


llama66 wrote:
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. :twisted:


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PostPosted: Tue Nov 27, 2018 2:17 pm
 


Thanos wrote:
llama66 wrote:
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. :twisted:

I don't know. All I know is someone needs to be nuked. From Orbit. By an orbiting Kinetic Cannon.


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PostPosted: Tue Nov 27, 2018 2:22 pm
 


Link no Linky.


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PostPosted: Tue Nov 27, 2018 2:27 pm
 


He should be cutting all auto subsidies in proportion to the tariffs he imposes on foreign automakers. :wink:


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PostPosted: Tue Nov 27, 2018 2:28 pm
 


llama66 wrote:
[I don't know. All I know is someone 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. :twisted:


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PostPosted: Tue Nov 27, 2018 2:38 pm
 


So we're talking about this then, right?

Trump threatens to cut GM's electric car subsidies because of plant closures

Quote:
U.S. President Donald Trump said Tuesday that he was "very disappointed" that General Motors was closing plants in the United States and warned that the White House was "now looking at cutting all GM subsidies," including for its electric cars program.

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.

[snip]

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


Last edited by N_Fiddledog on Tue Nov 27, 2018 2:43 pm, edited 1 time in total.

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PostPosted: Tue Nov 27, 2018 2:41 pm
 


CNN claims this:

Quote:
It's not clear what subsidies Trump was referring to.
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.


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PostPosted: Tue Nov 27, 2018 4:34 pm
 


I realise that Oshawa only produced 6% of the Canadian auto's but it doesn't mean I don't smell a:

Attachment:
rat-eating-cheese-19160248.jpg
rat-eating-cheese-19160248.jpg [ 129.94 KiB | Viewed 4 times ]


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. :roll:


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PostPosted: Tue Nov 27, 2018 4:41 pm
 


If they've had problems with the Volt and need to make it better and more competitive with the alternatives out there, including against the perennially hyper-popular 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. It hurts like hell for the employees and the local economies the plants are located in but it's no different at all than the oil companies emptying out their offices when the price of oil is too low to make even pennies from. It's cruel and it sucks but unfortunately it's also completely logical to do in order to save the rest of the company.

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.


Last edited by Thanos on Tue Nov 27, 2018 5:39 pm, edited 1 time in total.

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PostPosted: Tue Nov 27, 2018 5:32 pm
 


N_Fiddledog wrote:

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.


Freakinoldguy wrote:
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.

Thanos wrote:
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.


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PostPosted: Tue Nov 27, 2018 7:27 pm
 


Quote:
There is no problems with the Volt.

Big problem. No style, no hype. No sexy image, piss poor marketing.


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PostPosted: Tue Nov 27, 2018 7:44 pm
 


Just a general question - can Trump actually do this the same way he fucked everything/everyone up with the tariff stupidity? Subsidies are granted by Congress, either as part of the budget or as part of an emergency measure like in 2009 to save an industry from being destroyed. The subsidies are all an internal American domestic matter which makes a president's power to alter/wipe out an international deal altogether irrelevant if he doesn't have specific authority to do anything about it.

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.


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