re: GM Cuts 15% of it's salaried workforce, may close up to 5 North American plants

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I thought Black Jesus gave them $39 billion in taxpayer dollars?

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That was for bailing out the unions.

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Black Jesus gave them $39 billion in taxpayer dollars

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their total bailout turned out huge, but it was in loans

about 13 bil of them came from tarp with bush still in the WH

GM is doing what any corporation would be doing. Cutting a bloated workforce and executive team.

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GM is doing what any corporation would be doing. Cutting a bloated workforce and executive team.

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this is why trump's bullshite about magic wands and all these old jobs coming back is a cruel lie

of course, he was at one of these facilities spouting this shite just last summer

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"I'll tell ya what, I rode through your beautiful roads coming up from the [Youngstown Warren Regional] Airport and I was looking at some of those big, once-incredible job-producing factories," Trump said in front of a sold out Covelli Centre. "And my wife Melania said, 'What happened?' I said, 'Those jobs have left Ohio.' They're all coming back. They're all coming back."

The crowd erupted at the remark.

"Don't move. Don't sell your house," Trump added.

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^that's at the facility that's already lost ~3000 jobs since early 2017, and faces closure now

GMC - union bound and government funded

Outside of what I would assume are higher steel costs for the industry, I would doubt Trump had much of anything to do with GM's bloat.

However, he painted himself as the champion of rust belt workers. He's an optics guy such that the details don't matter, and the optics are not good right now.

Would expect him to blow up GM on Twitter if he hasn't already.

We're headed for an economic turndown. The dominos will just start to fall.

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2) What a surprise it's going to be for the owner of an electric car, when the $4000.00 battery pack requires replacing. As I understand it, you can't just replace one defective battery they all have to be replaced in numerical order.

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This is what's stopping me from making the jump to an electric vehicle. I have three vehicles and one of them is dedicated for local commuting because it's reliable and gets great gas mileage so I'm not worried about the limited range of electric vehicles. The biggest thing holding it back is the cost of battery replacement. Right now, the cost of battery replacement negates all previous years savings in gas. That makes it a wash. I've done the numbers with several different electric vehicles and they all work out the same many of them actually being more expensive total cost of ownership. And this is assuming you're buying the electric vehicle used.

The only thing that changes any of this is if the electric batteries get really cheap, nearly double in lifespan or dino fuel gets really expensive. Of course if the last one happens I'll probably just keep my combustion engines and start growing sugar cane and then distill ethanol.

Winning the Midwest was great but it cuffs him to entitlements and shitty economic policy