Of course. This plant closing decision was not announced on a whim.Looks like Barra is staying the course.
Certainly, she was prepared ... no doubt had people help her prepare and practice responses.Looks like Barra is staying the course.
Barra on Wednesday at the same press conference defended the decisions as a response to market conditions that have resulted of a shifting U.S. consumer preferences that have made sedans tough to sell.
"We are in an industry that is transforming faster than I've ever seen in my38 year career," she said. "What we are trying to is make sure that General Motors is strong and that we're in a leadership position with technologies like electrification and autonomous vehicles and connectivity, because that's what customers want. That's where industry is going."
Barra deflected criticism of GM's decision that invokes the company's receipt of nearly $50 billion in federal assistance in the 2008 and 2009 auto bailouts, which the company notes has repaid.
"Since 2009, we have invested $22 billion in the United States, and in the last couple of years we've invested several more billions of dollars and we'll continue to do that," Barra said.
"We will be forever grateful for the assistance that the U.S. government provided General Motors, and we're trying to make sure we're good corporate citizens and continue to provide jobs and provide vehicles and transportation that consumers want in this country," she continued. "That's what I think is the most responsible thing that we can do to thank the American taxpayers for what they did for us."
Hit the nail on the head. I'm sure there's some corporate double-speak to whitewash this too.Barra also met Wednesday with incoming U.S. representatives from Michigan. Rashida Tlaib, Haley Stevens, Elissa Slotkin and Andy Levin, all Democrat, will be in Boston for training and can't attend the Barra's meeting on Thursday with Michigan lawmakers in person. Michigan's congressional delegation will meet with her at 2 p.m.
Tlaib said in a statement after the meeting: "From the 1,300 homes, churches, and shops in Poletown that were seized and bulldozed to build the Detroit-Hamtramck plant, to the $51 billion public bailout that lost hardworking taxpayers more than $11 billion, we have paid a terribly steep price to placate and keep GM afloat.
"Now, as we fight to rebuild our regional economy and create living-wage jobs, GM is repaying our sacrifice and investment by slashing thousands of jobs and closing the plant an entire neighborhood was torn down to build," Tlaib continued. "I’ll always stand in solidarity with workers and for what’s right and this is simply wrong. GM's announcement reaffirms my commitment to demanding binding community benefits agreements whenever a wealthy corporation is lining up for public subsidies.”
Here's what Edward Jones has to say.Treasury bills have just undergone an inverted yield. Almost every recession was proceeded by this event.
Of course, some say it's all just noise, no need to worry.
Treasury bills have just undergone an inverted yield.
Yep, yep, I agree. Shall we wander off into an off-topic thread split now?Here's what Edward Jones has to say.
-- This is not new. We have seen the market panic over the flatter yield curve several times in the past few years. Traditionally, a flattening yield curve is a sign of a maturing economic cycle, not the end of it. In fact, in the past, even when the yield curve has inverted, a recession did not emerge for an extended period of time. We don't dismiss the risks that are prevalent in today's investment environment, but we think the risk of a recession in 2019 is quite low. We expect the result will likely be ongoing volatility, not the imminent end of this bull market.