President Trump To Meet With GM CEO Mary Barra And Other Big Three CEOs
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The Big Three will have their time to bend the new president’s ear over what can be done to increase investment and jobs here in the United States. The Detroit Free Press reports General Motors CEO, Mary Barra, along with Ford and Fiat-Chrysler’s CEOs will join President Donald Trump for a breakfast meeting to discuss the industry at large.
Yesterday, White House Press Secretary Sean Spicer stated Barra, Mark Fields and Sergio Marchionne would meet with the president to discuss how “to bring more jobs back to the industry.” The meeting will likely give each automaker room to discuss U.S. investments as of recent and provide insight from the private sector for President Trump’s trade and job creations plans.
The president has long been a critic of the North American Free Trade Agreement, which he says must be renegotiated, but analysts fear it could do more harm than good for U.S. automakers.
“The whole process of automobile production is now so intertwined, that to try to untangle that would be a terrible blow to the industry,” Marina Whitman, professor of business administration and public policy at the University of Michigan said. “If the auto industry had to realign the production of arrangements between the U.S. and Canada … it just would cause mayhem for the industry.”
Trump’s most recent move was to fully exit the United States’ commitment to the Trans-Pacific Partnership, a multi-lateral trade agreement both Democrats and Republicans thought disastrous for the country.
The meeting between the president and the automakers’ CEOs will take place this morning, so stay tuned for additional information trickling out of that meeting.
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Sergio is not apart of the Big Three. There is only the Big Two.
Agreed! I haven’t considered Chrysler american since they were owned by Daimler.
Might we see a return of the Charles Wilson’s adage, “What’s Good for General Motors is Good for America”. If the United States creates a climate that allows GM to operate in a somewhat more unfettered manner and be more profitable, surely that helps the nation. Such was the thinking many years ago and perhaps that thinking is still relevant today.
I’m also reminded of Mark Fields recent comments about electric vehicles cited below:
“In 2008, there were 12 electrified vehicles offered in the U.S. market and it represented 2.3 percent of the industry,” Fields said in the interview. “Fast forward to 2016, there’s 55 models, and year to date it’s 2.8 percent.”
The auto industry has become increasingly regulated and constrained. Mandates from Washington that automakers produce certain types of vehicles do not automatically create demand for those cars. Regulation needs to be sensible and sparing. A more relaxed climate might allow GM to prosper and looking back historically, it does seem that when GM was at its most prosperous point, so too was America.
Jobs, jobs and more US jobs. If you are upset about that, you need an extensive mental evaluation.
the auto industry may be global , but AMERICAN autos are to be assembled in AMERICA buy AMERICAN workers with that AMERICAN pride including red ,white & blue nameplates ( Buick)
Lowering the corporate tax rate won’t make jobs materialize, but it will result in higher executive take-home and juicy dividends. Same goes for the regulations you hear demonized between the commercials on cable news and your AM radio.
The goal has never been to help you and your Uncle Billy. It’s to make the powerful more powerful and the rich richer. Whatever lipstick that gets promoted will be undone quickly by the corporations and billionaires that control our so-called democracy. And you’ll be butt-hurt, blaming the wrong people, voting against your own interests as usual.
Short term gain, long term pain. That’s what you’re being promised. Often by wolves in sheep’s clothing–even here on this site.
At some point you have to start thinking for yourselves, or be prepared to answer to your maker.