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Orange Blooded [2692]
TigerPulse: 97%
Posts: 3406
Joined: 7/3/07
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General Motors and corporate welfare
Nov 27, 2018, 9:51 AM
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Do companies like GM that enjoyed the big tax breaks have any obligation to the USA to keep people employed?
Of course they don't. Some people like DJT don't seem to understand this fact, and have some crazy notion that corporations like GM are somehow morally obligated to give something to the American public for the largess that we have bestowed to them through tax breaks, bailouts, etc.
Corporations exist solely for the benefits of their shareholders, who can be anyone from any country on the planet. And these shareholders honestly don't give a rats ### about your hurt feelings over 15,000 jobs. If they could replace humans with a robot factory, and only have 10 employees run the show, you know they'd do it in a heart beat.
The big tax breaks honestly felt like a shallow attempt to buy DJT more rich friends, but the tragic irony is that once again he has been duped. Will he ever learn?
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Heisman Winner [119571]
TigerPulse: 100%
Posts: 54416
Joined: 6/24/09
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Most of what GM builds is cr*p. They are finally
Nov 27, 2018, 9:55 AM
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Dealing with reality....
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CU Medallion [73569]
TigerPulse: 100%
Posts: 78044
Joined: 11/30/98
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didnt Obama keep them alive? barely.***
Nov 27, 2018, 10:49 AM
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Orange Blooded [2692]
TigerPulse: 97%
Posts: 3406
Joined: 7/3/07
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Re: didnt Obama keep them alive? barely.***
Nov 27, 2018, 12:12 PM
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Troubled Asset Relief Program was created during GWB term, inherited by Obama. The bailout required Feds to purchase a bunch of shares from GM, which they bought back later on.
Even though the money was repaid, it put the American public on the hook for the supposed purpose of saving jobs, which it turns out are now lost a decade later anyway.
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Heisman Winner [137789]
TigerPulse: 100%
Posts: 63752
Joined: 10/22/00
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I don't particularly agree.
Nov 27, 2018, 10:09 AM
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I think DJT is a bit naive on what him and his advisors predict will happen, but he's far more aligned with billionaires than the blue collar folks who elected him. Those are the people that are duped, not DJT. Trump knows who holds the actual power.
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CU Medallion [59974]
TigerPulse: 100%
Posts: 22471
Joined: 5/24/17
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Re: I don't particularly agree.
Nov 27, 2018, 10:19 AM
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Trump says this....well, you know they say the Cruze isnt selling well, then I told them to put something in there that will sell and get those people in Ohio back to work!
The guy has no idea that the car industry is working about 6 years out and cannot just design and manufacture a car like Nike makes a pair of shoes.
I do not think Trump is an idiot, he just needs to stay in his lane.
Like when asked if he had read the report on the migrant crisis, he should have just said, my advisors did and briefed me of the situation. BUT OH NO, he cannot do that, he has to fly off the handle and takes the bait.
I think for Trump, we need his cabinet, plus bring back those Czar's and have him one for every piece of the economy. Ha ha ha!
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Oculus Spirit [93608]
TigerPulse: 100%
Posts: 95384
Joined: 12/25/09
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110%er [5854]
TigerPulse: 100%
Posts: 3673
Joined: 11/18/00
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Standout [345]
TigerPulse: 96%
Posts: 413
Joined: 8/28/05
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Re: General Motors and corporate welfare
Nov 27, 2018, 12:09 PM
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That would have been ideal if we were going to cut their rates. Honestly, anyone who thought public traded companies would not use most of that money for stock buy backs doesn't understand how corporations work or what their goals are.
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Oculus Spirit [93608]
TigerPulse: 100%
Posts: 95384
Joined: 12/25/09
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Does everything go over your head?
Nov 27, 2018, 12:09 PM
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GM took a shot at Trump by claiming the tariffs caused their losses but the records show that GM lost market value in the three major US markets. Trump shot back that it was GM's fault for not making a better/more popular automobile.
The truth is somewhere between.
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Orange Blooded [2692]
TigerPulse: 97%
Posts: 3406
Joined: 7/3/07
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Such stable genius on display
Nov 27, 2018, 1:10 PM
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Both you and DJT have so much in common. Congratulations on your incredible success here.
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Oculus Spirit [80978]
TigerPulse: 100%
Posts: 56059
Joined: 9/13/04
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"YAY! People getting laid off. My team wins!!"***
Nov 27, 2018, 3:09 PM
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CU Guru [1907]
TigerPulse: 90%
Posts: 3154
Joined: 11/11/17
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Re: "YAY! People getting laid off. My team wins!!"***
Nov 27, 2018, 4:46 PM
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Well that would depend upon if one is a worker, aCEO, BOT or share/bond holder. Always has been the case.
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