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tony7914
Joined: Dec 24, 2004
Posts: 4965
Location: Peru Indiana
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 Posted: Sat May 09, 2009 11:00 am Post subject: GM plans to shift overseas production |
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David Shepardson / Detroit News Washington Bureau
Washington -- General Motors Corp. will shift more production of vehicles bound for the U.S. market to China, Mexico, South Korea and Japan, but will keep total imports at roughly one-third of all sales here.
In a confidential 12-page presentation to members of Congress, obtained by The Detroit News on Friday, GM said it will boost U.S. sales of vehicles built in those four countries by 98 percent -- or about 365,000 vehicles -- while shrinking production in Canada, Australia and European countries by about 130,000 vehicles.
GM also disclosed it will start importing vehicles made in China in 2011, reaching 51,546 vehicles in 2014. Imports from South Korea to the United States will jump from 36,967 vehicles in 2010 to 157,126 in 2014.
The automaker said it is canceling expansion projects in Russia, India and Mexico.
GM's plan to import more vehicles from low-wage countries raises questions about whether it should beef up its foreign operations as it is relying on federal money to stay afloat. It also puts the automaker at odds with the United Auto Workers, which is trying to protect U.S. jobs amid a dramatic restructuring of the domestic auto industry....... |
Source.
I don't think this is a good idea. I understand the need to reduce costs but shipping the jobs to low wage countries while taking tax payer money from the US and Canada is not a wise idea, the way I understand it that money was to help them recover and keep as many jobs here afloat as possible. |
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xavierx
Joined: Nov 06, 2004
Posts: 5427
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| Posted: Sat May 09, 2009 6:20 pm Post subject: |
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| Don't worry, the unions and their man in the white house will stop this.
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tony7914
Joined: Dec 24, 2004
Posts: 4965
Location: Peru Indiana
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| Posted: Sat May 09, 2009 8:26 pm Post subject: [Login to view extended thread Info.] |
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| xavierx wrote: |
| Don't worry, the unions and their man in the white house will stop this. |
I don't think Obama will do anything to stop it, he's not turning out to be the friend the unions thought he would be, I am sure it will be a sticking point on getting the UAW to agree to concessions to keep it out of court though. Combine that with the bond holders and the dealers and a GM bankruptcy could get messy. |
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CowpokeBob
Joined: Feb 07, 2006
Posts: 1501
Location: South Carolina, USA
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| Posted: Sat May 09, 2009 11:05 pm Post subject: [Login to view extended thread Info.] |
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| tony7914 wrote: |
| xavierx wrote: |
| Don't worry, the unions and their man in the white house will stop this. |
I don't think Obama will do anything to stop it, he's not turning out to be the friend the unions thought he would be, I am sure it will be a sticking point on getting the UAW to agree to concessions to keep it out of court though. Combine that with the bond holders and the dealers and a GM bankruptcy could get messy. |
Yes indeedy. The plot is thickening by the day. |
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xavierx
Joined: Nov 06, 2004
Posts: 5427
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| Posted: Sun May 10, 2009 1:49 pm Post subject: [Login to view extended thread Info.] |
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| tony7914 wrote: |
| xavierx wrote: |
| Don't worry, the unions and their man in the white house will stop this. |
I don't think Obama will do anything to stop it, he's not turning out to be the friend the unions thought he would be, I am sure it will be a sticking point on getting the UAW to agree to concessions to keep it out of court though. Combine that with the bond holders and the dealers and a GM bankruptcy could get messy. |
I don't know about that. Considering Obama just gave the unions controlling interest in Chrysler, I don't expect Obama to let this happen, either. |
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tony7914
Joined: Dec 24, 2004
Posts: 4965
Location: Peru Indiana
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| Posted: Sun May 10, 2009 2:01 pm Post subject: [Login to view extended thread Info.] |
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| xavierx wrote: |
| tony7914 wrote: |
| xavierx wrote: |
| Don't worry, the unions and their man in the white house will stop this. |
I don't think Obama will do anything to stop it, he's not turning out to be the friend the unions thought he would be, I am sure it will be a sticking point on getting the UAW to agree to concessions to keep it out of court though. Combine that with the bond holders and the dealers and a GM bankruptcy could get messy. |
I don't know about that. Considering Obama just gave the unions controlling interest in Chrysler, I don't expect Obama to let this happen, either. |
The catch with their 55% is that it's worthless paper if Chrysler can't turn a profit and they have no voting or decision making authority as well as they were forced to give up the right to strike so long as new co owed the government money. I think the rank and file are starting to realize they got the short end if the stick, only the lenders got any cash out of this and odds are the company isn't going to make it. |
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xavierx
Joined: Nov 06, 2004
Posts: 5427
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| Posted: Sun May 10, 2009 2:12 pm Post subject: [Login to view extended thread Info.] |
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| tony7914 wrote: |
| The catch with their 55% is that it's worthless paper if Chrysler can't turn a profit and they have no voting or decision making authority as well as they were forced to give up the right to strike so long as new co owed the government money. I think the rank and file are starting to realize they got the short end if the stick, only the lenders got any cash out of this and odds are the company isn't going to make it. |
Really? No voting authority even with a controlling share? I missed that one. You're right, they got screwed. |
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tony7914
Joined: Dec 24, 2004
Posts: 4965
Location: Peru Indiana
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| Posted: Sun May 10, 2009 2:19 pm Post subject: [Login to view extended thread Info.] |
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| xavierx wrote: |
| tony7914 wrote: |
| The catch with their 55% is that it's worthless paper if Chrysler can't turn a profit and they have no voting or decision making authority as well as they were forced to give up the right to strike so long as new co owed the government money. I think the rank and file are starting to realize they got the short end if the stick, only the lenders got any cash out of this and odds are the company isn't going to make it. |
Really? No voting authority even with a controlling share? I missed that one. You're right, they got screwed. |
It was in the deal, they get one seat and no voting or decision making rights the feds will have the most seats and Fiat will have control of the company and decision making unless they change the rules again that's how it's going to be.
The only way the UAW can fund their VEBA with this deal is to sell it as quickly as possible and after the feds changed the rules they are going to have a hard time doing that and new co is going to have an even harder time finding venture capital. |
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CowpokeBob
Joined: Feb 07, 2006
Posts: 1501
Location: South Carolina, USA
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| Posted: Sun May 10, 2009 4:04 pm Post subject: [Login to view extended thread Info.] |
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| tony7914 wrote: |
| xavierx wrote: |
| tony7914 wrote: |
| The catch with their 55% is that it's worthless paper if Chrysler can't turn a profit and they have no voting or decision making authority as well as they were forced to give up the right to strike so long as new co owed the government money. I think the rank and file are starting to realize they got the short end if the stick, only the lenders got any cash out of this and odds are the company isn't going to make it. |
Really? No voting authority even with a controlling share? I missed that one. You're right, they got screwed. |
It was in the deal, they get one seat and no voting or decision making rights the feds will have the most seats and Fiat will have control of the company and decision making unless they change the rules again that's how it's going to be.
The only way the UAW can fund their VEBA with this deal is to sell it as quickly as possible and after the feds changed the rules they are going to have a hard time doing that and new co is going to have an even harder time finding venture capital. |
Yep but Obummer gets what he wants....CONTROL. Thousands more little Obummer robots doing his bidding (or else!). And he'll blame the whole thing on Bush anyway  |
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