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  #1  
Old 26 November 2018, 11:30 PM
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Roll eyes Trump 'not happy' about GM layoffs

Trump 'not happy' about GM layoffs that run counter to his claims of bringing jobs back to US

General Motors' announcement Monday of plans to lay off 15 percent of its workers and shutter five plants in North America has given new fuel to critics of President Donald Trump's economic and trade policies.

https://abcnews.go.com/Politics/gm-l...ry?id=59422414
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  #2  
Old 26 November 2018, 11:53 PM
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President Trump told reporters he’s relayed his displeasure with the news of the company's reorganization directly to CEO Mary Barra and warned that GM had better get a car into production that will sell.
Because I'm sure GM's leadership totally hadn't thought of that until Trump told them to do it.
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Old 26 November 2018, 11:57 PM
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Getting good business advice from Trump is like getting the truth out of him. The man couldn't sell steaks, airline seats or even make it with a casino.
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  #4  
Old 27 November 2018, 12:14 AM
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The last is my favorite. A business model that is basically, "The vast majority of your customers give you money, get effectively nothing in return, and leave satisfied." and Trump couldn't manage to make that work.
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  #5  
Old 27 November 2018, 01:32 AM
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Give him credit where it's due: he's been disturbingly effective at convincing people that all those previous failures weren't a pattern and they should give him another chance.
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Old 27 November 2018, 02:33 AM
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Which is something like what the casino business involves. Convince people to ignore the data and take another chance on themselves.

One wonders why he’s been successful as a politician, but not as a casino owner, then? Could it be that when the house operates at a loss the casino goes out of business, but when the White House is at a loss, you can just blame Congress?
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  #7  
Old 27 November 2018, 12:07 PM
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One of my brothers, who worked as a deputy sheriff for 25 years, told me that he voted for Trump because "he's a good businessman." I've worked in the corporate world for 30+ years. Wonder what big bro would say if I tried to tell him who was, or wasn't, a good cop?
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Old 27 November 2018, 12:15 PM
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I think I read that his casino business went bankrupt partly because of some debt restructuring that he did from his other companies at the time. Not sure of the details of that, though...
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Old 27 November 2018, 12:54 PM
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Quote:
Originally Posted by WildaBeast View Post
Because I'm sure GM's leadership totally hadn't thought of that until Trump told them to do it.
Nope. Absolutely not. What would a major automotive manufacturer know about cars?
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Old 27 November 2018, 02:27 PM
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I think I read that his casino business went bankrupt partly because of some debt restructuring that he did from his other companies at the time. Not sure of the details of that, though...
This NY Times article has a good report on the issues. Basically he was using the Taj Mahal as a slush fund to fund his other projects. Given the high interest rates from his financing and the ridiculously lavish spending, the Taj Mahal was pretty much guaranteed to lose money. But it also was taking revenue from his other casinos and it opened at the height of the gambling slowdown in Atlantic City.

Basically, it was a combination of horrible business sense and incredibly crooked financial practices. Or, you know, Trump as usual*.

* He even got an illegal loan from Daddy to try and keep it solvent.
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  #11  
Old 27 November 2018, 08:05 PM
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Default The dramatic chart behind GMís job slashing

https://www.marketwatch.com/story/th...ing-2018-11-27

It's not just GM -- demand for passenger cars (as opposed to trucks/SUVs/crossovers) in the US has dropped dramatically in recent years. So it's really not surprising that GM is dropping cars like the Cruze and Impala from their lineup.
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Old 27 November 2018, 08:13 PM
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Tantrum Trump threatens to cut subsidies for GM after layoff, plant closure announcement

President Donald Trump threatened to cut subsidies to General Motors on Tuesday, one day after the Detroit automaker announced it was laying off 14,000 workers in North America and closing seven plants worldwide, including four in the U.S.

https://abcnews.go.com/Business/trum...ry?id=59448771
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  #13  
Old 27 November 2018, 09:58 PM
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The orange one should just sign an executive order requiring people to buy sedans instead of the big trucks and SUVs that they are buying. Of course if gas prices were higher, that might actually happen. But the orange one says low gas prices are good for the US.
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  #14  
Old 27 November 2018, 10:07 PM
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On the subject:

A Wall Street Journal Interview on trade shows Trump has no idea what he's doing
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  #15  
Old 27 November 2018, 11:07 PM
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President Trump: So she told me: The car’s not selling. I said, so maybe you got to make a better car.
I've never driven a Cruze before, but from everything I've heard about them they're not bad cars. And the current Impala got extremely positive reviews from Consumer Reports when it came out. As already mentioned part of the problem is that they're just not the kinds of cars Americans want right now. But I think another part of the problem is just GM's image in the minds of most consumers. Even if GM built a car that was every bit as good as a Toyota, I suspect most people would still buy the Toyota simply because Toyota has built a reputation for good cars over the past 50 years, and GM has not.
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Old 27 November 2018, 11:56 PM
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Originally Posted by WildaBeast View Post
...Even if GM built a car that was every bit as good as a Toyota, I suspect most people would still buy the Toyota simply because Toyota has built a reputation for good cars over the past 50 years, and GM has not.
This, totally this. From the 1970s through the 1990s, GM accrued a well-deserved reputation for uninspiring designs built to indifferent quality standards. Sure, there are some bright spots in their product lines, but they drown in a sea of insipidity. Sure, past results might not predict future performance, but they're damned hard to ignore.

Toyota, on the other hand, has steadily built a solid reputation for competent if not edgy designs with good build quality and better field support. I have never done so little maintenance and repair per mile than now that my family motor pool (sports car excepted) is all-Toyota.

--Bob K.
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  #17  
Old 28 November 2018, 01:04 AM
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I'd heard that the GM badged cars built at NUMMI have lower resale values than their Toyota counterparts, because most people don't realize they were really just badge-engineered Toyotas and thus they come with GM's reputation attached. So buying a used Pontiac Vibe or Chevy/Geo Prizm is supposedly a way for used car buyers in the know to get a bargain priced Toyota. Buy I just priced a 2009 Pontiac Vibe and Toyota Matrix (basically the same car) on Kelly Blue Book, both base models with no options, in good condition, and the values are basically the same. In fact the value given for the Vibe is slightly higher. So I'm not sure it that claim is just a UL, if that data point is just an outlier, or if perhaps that wasn't a true apples to apples comparison and maybe the base Vibe comes with more features than the base Matrix.
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  #18  
Old 28 November 2018, 01:30 AM
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I think it was true for a while but not anymore after GM closed down the Pontiac lines.
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  #19  
Old 28 November 2018, 02:13 AM
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Originally Posted by WildaBeast View Post
I've never driven a Cruze before, but from everything I've heard about them they're not bad cars. And the current Impala got extremely positive reviews from Consumer Reports when it came out.
I'm on my second Cruze ECO. They are good, high quality cars that handle VERY well, and get great mileage. I let a friend drive mine. He was so impressed with it, he sold his Audi and bought a Cruze ECO.

Part of the reason given is that more and more people are buying SUVs and trucks. Seems like the US car buying public have short memories, and don't recall a few years back when gas prices were edging north of $4 a gallon, and truck owners were paying between $75 to $100 per tankful. (A tankful that didn't last very long, I might add.)

I also wonder how many folks go into the dealership to buy a car, and get talked into buying a (more profitable) SUV or truck instead? I know when I went in to buy my latest Cruze, the salesperson did everything she could to talk me into buying an Equinox, to the point of grabbing my arm, and physically leading me over to one. "I just KNOW you'd be MUCH happier with this sir!" It was only after I threatened to go to another dealer that she backed off.
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  #20  
Old 28 November 2018, 03:36 AM
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Originally Posted by DrRocket View Post
Part of the reason given is that more and more people are buying SUVs and trucks. Seems like the US car buying public have short memories, and don't recall a few years back when gas prices were edging north of $4 a gallon, and truck owners were paying between $75 to $100 per tankful. (A tankful that didn't last very long, I might add.)
I remember one news report I heard a few months back, I'm pretty sure it was on Public Radio's Marketplace, stated that the fuel economy for all vehicles has improved quite a bit over the past decade. So for someone trading in say a 10 year old Impala, the fuel economy of a brand new Equinox might seem reasonably good in comparison to their old car, even if a new Impala is better still.
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