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Auto Industry bailing on Trump.....closing American plants

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A year ago he said there will be nine hundred new jobs would be created and jobs were coming back. The same place he made this promise is losing 1600 jobs. This is what happens when sixth graders get promoted beyond their ability.

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He's starting to run out of Obama economy. The things Trump did - like that tax cut for the rich - are starting to take effect, and it's not good.

O' course, he'll blame it on the new Democratic congress, and his brainwashed baby ducks will fall in line behind that the way they always do.

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U.S. Added 250,000 Jobs in October; Unemployment at 3.7%

https://www.nytimes.com/2018/11/02/business/economy/jobs-report.html

The last official snapshot of the economy before Americans vote on Tuesday offered another reminder of the labor market’s persistent strength. Hiring is up. Wages are up. The total number of workers and job searchers is up.

“It’s really the strongest part of the broader economy at the moment,” Michelle Girard, chief United States economist at NatWest Markets, said of the labor market.

A swerving stock market, tariffs and weakening growth in other countries may be causing agita, but they have done little to dent economic momentum in the United States. Employers added 250,000 jobs in October, extending a record streak of growth to 97 months, the Labor Department reported on Friday.

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Hey Pk......how does Trump's labor participation numbers compare to Obama/s.......you and markle sold that chit forever, and guess what..........10k babyboomers are retiring a day and alone can explain the drops in unemployment......why......well you guys explained it to me.......labor participation rates rule......too funny. This is the final wheeze of the Obama economy before we enter trumpville.

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zsomething wrote: ….
O' course, he'll blame it on the new Democratic congress, and his brainwashed baby ducks will fall in line behind that the way they always do.

But of course.  A Trumpkin buddy of mine already told me this … all about how "Pelosi's liberal Democrat House" is going to stop the "roaring Trump economy" in it's tracks.  He heard it on some right wing radio show.  I asked him how the House could possibly do that since R's still control the Senate and Trump the Presidency.   He couldn't exactly explain except to blabber something about how the Democrats are going to "hold the country hostage to their liberal agenda"  Rolling Eyes  

But like I said … he heard it on the radio.

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2seaoat wrote:  This is what happens when sixth graders get promoted beyond their ability.







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I was reading up on this and this is actually a smart move GM is making, IMO.

If there is anything to be criticized it's the faulty thinking of 'Trumpkins' that the President would and could actually bring back and increase the number of good paying with benefits low-skill assembly line jobs in this country.

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2seaoat wrote:Hey Pk......how does Trump's labor participation numbers compare to Obama/s.......you and markle sold that chit forever, and guess what..........10k babyboomers are retiring a day and alone can explain the drops in unemployment......why......well you guys explained it to me.......labor participation rates rule......too funny.   This is the final wheeze of the Obama economy before we enter trumpville.

It's basically level. But considering the job growth, boomers retiring, and fewer working two jobs... it's a win.

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2seaoat wrote:..10k babyboomers are retiring a day and alone can explain the drops in unemployment.....

Lots an lots of low-paid low-skilled jobs most Americans don't want to do in the elder care industry going unfilled. Google it if you don't believe me. It's practically a crisis.

Hmmm, maybe some of those boomers who voted Trump oughta think twice about turning away all those Hondurans quite so fast?

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2seaoat wrote:A year ago he said there will be nine hundred new jobs would be created and jobs were coming back.  The same place he made this promise is losing 1600 jobs.  This is what happens when sixth graders get promoted beyond their ability.

It's also what happens when 3rd graders believe a pseudo-politician like the Trumpet. I can't believe you fell for his B/S, tell me HOW a pseudo-politician can create jobs? BHO couldn't (shovel ready anyone) and neither can the Trumpet. Politicians say anything and promise everything, until you and other weak minded folks quit believing their lies they will continue to tell them.

BTW the REAL reason GM is closing plants is they bet on the wrong horse - people don't want sedans - they want crossovers, SUVs and increasingly, EVs so that's where GM wants to focus. Even Ford is bailing on selling sedans in North America.

Try to keep up with reality.

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gatorfan wrote:
BTW the REAL reason GM is closing plants is they bet on the wrong horse - people don't want sedans - they want crossovers, SUVs and increasingly, EVs so that's where GM wants to focus. Even Ford is bailing on selling sedans in North America.

Obviously you don't know fuck-all about making cars. You don't permanently close a plant because it's making the wrong vehicle--any modern auto plant can change from making, say, F-150s to Lincolns or SUVs or Ford Fusions in about a month. The line guys get laid off for the change-over then called back once the line has been reworked.

GM is a perfect example of the inherent failure of Laissez-faire capitalism. It should have been broken up back in 2008 when the industry got it's $80 billion bail-out.  GM is closing plants because the management is stupefyingly incompetent.  DUH!

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Deus X wrote:
gatorfan wrote:
BTW the REAL reason GM is closing plants is they bet on the wrong horse - people don't want sedans - they want crossovers, SUVs and increasingly, EVs so that's where GM wants to focus. Even Ford is bailing on selling sedans in North America.

Obviously you don't know fuck-all about making cars. You don't permanently close a plant because it's making the wrong vehicle--any modern auto plant can change from making, say, F-150s to Lincolns or SUVs or Ford Fusions in about a month. The line guys get laid off for the change-over then called back once the line has been reworked.

GM is a perfect example of the inherent failure of Laissez-faire capitalism. It should have been broken up back in 2008 when the industry got it's $80 billion bail-out.  GM is closing plants because the management is stupefyingly incompetent.  DUH!

Careful - your total ignorance is showing again. I said they bet on the wrong horse. And tell me why GM would invest in "retooling" when their plants are not even running at 40% capacity? You really ought to educate yourself on a subject before spouting off infantile gibberish. This was a business decision driven by changing market preferences.

http://gmauthority.com/blog/2018/07/as-gm-deals-with-underused-car-plants-options-are-weighed/

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It's not just GM, and it's not just "a business decision".

Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says

By KEVIN KELLEHER October 10, 2018

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring of the automaker, hoping to cut costs and remain competitive, the Wall Street Journal reports. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. According to Bloomberg, Hackett has said they have already cost the company $1 billion in profit and could do “more damage” if the disputes aren’t resolved quickly.

Ford, the No. 2 U.S. automaker by sales, is making aggressive job cuts as part of that reorganization, NBC News reported. While the company hasn’t said how many jobs will be lost, a report from Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide.”

While reports have indicated that the job cuts are likely to come early next year, The Kansas City Star reported Tuesday that Ford has temporarily halted production of transit vans in Claycomo, Mo. The move is intended to prevent a build-up in Ford’s inventories of the vans, but it will leave 2,000 workers idle between Oct. 22 and Nov. 4.

Despite news of the layoffs, Ford’s stock closed down 3.4% Tuesday.

At a time when automakers are scrambling to prepare for self-driving cars, Ford is also struggling to keep pace with the rest of the industry. September was a bad month for U.S. auto sales—with aggregate sales down 7%—but Ford’s drop off was even more severe. Ford said its sales of its vehicles declined 11.2% last month, with sales of its best-selling F-Series pickup trucks down 9%.

Ford has not responded to Fortune’s request for comment.

http://fortune.com/2018/10/09/ford-stock-today-layoffs-trump-trade-tariffs/

************

The combination of unfunded tax cuts to Drumpf and his cronies and Drumpf's horrendous trade policies is hitting all US businesses, with the exception of the MIC.

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gatorfan wrote: people don't want sedans - they want crossovers, SUVs and increasingly, EVs

You were saying?

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Deus X wrote:
gatorfan wrote: people don't want sedans - they want crossovers, SUVs and increasingly, EVs

You were saying?

You are congenitally unable to understand a complex subject. Stick to wikipedia and your imagination. You'll be fine in that narrow little world you inhabit. Perhaps F/T and her ONE talking point can keep you company.

Trumpet is an idiot but you don't have to follow him there, the auto industry is losing sales and shifting product lines - the Ford CEO issued a talking point of $1B trying to calm stockholders into thinking it's not Fords fault at all for losing money while he struggles to shift 25 Billion around to correct their (his) poor strategy and perhaps to justify his $18M salary and bonuses. Whatever you do don't try to educate yourself on the subject as a whole. The tariff issue is but one small part of the equation but since you and F/T are 2 sides of the same coin you can't understand that simple fact.

Bless your little heart child.....

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Try to keep up with reality.


Promises made and promises doomed, but there actually can be rational industrial policy if Sherrod Brown runs for President and implements something above sixth grade.

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2seaoat wrote:
Promises made and promises doomed, but there actually can be rational industrial policy if Sherrod Brown runs for President and implements something above sixth grade.

There can't be a rational industrial policy until the power of giant corporations is reduced, until the Fortune 500 is turned into the Fortune 2500.

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2seaoat wrote:Try to keep up with reality.


Promises made and promises doomed, but there actually can be rational industrial policy if Sherrod Brown runs for President and implements something above sixth grade.

Brown has a lot going for him if doesn't let himself get pushed too far left by party radicals. I think he could beat Trumpet.

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gatorfan wrote:
Deus X wrote:
gatorfan wrote: people don't want sedans - they want crossovers, SUVs and increasingly, EVs

You were saying?

You are congenitally unable to understand a complex subject. Stick to wikipedia and your imagination. You'll be fine in that narrow little world you inhabit. Perhaps F/T and her ONE talking point can keep you company.

Trumpet is an idiot but you don't have to follow him there, the auto industry is losing sales and shifting product lines - the Ford CEO issued a talking point of $1B trying to calm stockholders into thinking it's not Fords fault at all for losing money while he struggles to shift 25 Billion around to correct their (his) poor strategy and perhaps to justify his $18M salary and bonuses.  Whatever you do don't try to educate yourself on the subject as a whole. The tariff issue is but one small part of the equation but since you and F/T are 2 sides of the same coin you can't understand that simple fact.

Bless your little heart child.....

Look, you stupid little shit, you don't get to tell me what I understand. I have a very solid business background and a degree in marketing. What do you have except poor reading comprehension?

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gatorfan wrote:Try to keep up with reality.
Deus X wrote:Obviously you don't know fuck-all about making cars.
gatorfan wrote:Careful - your total ignorance is showing again.  
gatorfan wrote:You are congenitally unable to understand a complex subject.
Floridatexan wrote:Look, you stupid little shit, you don't get to tell me what I understand.  

CHILDREN !!

Let's all try and Just Be Best, shall we?






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Sherrod Brown's politics are a little left of my comfort zone, but I have been listening to him for five years on the Thom Hartman radio show, and he lays out very specific and rational industrial policy which is more complex than Trump's leap into tariffs. He knows the American Auto and Steel industry. He has been fighting for specific Trade negotiations for his tenure in the senate. As a Republican, my two cents on the democratic nominee means nothing, but he is a sincere man who has experience and intelligence. He is a white man appealing to white disenfranchised industrial workers......the gap which Trump exploited with false promises and utter lack of knowledge of trade policy. I will donate to his presidential campaign against Trump, and hope when he promises to keep jobs in America, he will do that with well thought out rational economic policy.

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2seaoat wrote:Sherrod Brown's politics are a little left of my comfort zone,

The question is who can take on Trump in a campaign what with his bare-knuckles no-holds-barred campaign style without getting mud all over themselves in the process?  ( Of course, that'll be an easier job if the economy goes south on Trump.)

I think the Demos stand a better chance with a solid moderate with a track record of governing than some of the faces they've been trial ballooning of late who are either too far associated with the far left, too already known, too into social issues & identity politics, or too inexperienced like Cory Booker, Eliz Warren, Kamala Harris, Beto, Bloomberg  … and God Please! not Bernie or Hillary again!  If I have to choose between Trump and any of those …. I just won't vote.

Maybe Brown, but maybe somebody like Bullock or Hickenlooper also?  Somebody a Conservaliberalitarian like me could vote for.   Don't know enough about them though, don't know if they have sufficient charisma, and don't know if they could stand up to campaigning against Trump?

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