1 of 1- tennyson
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2,000 GM workers to lose jobs on Trump Inauguration Day
Co-incidence ? I think NOT ! The layoffs likely were planned quite a while ago, but given how Trump has tried to bully companies into business decisions, this looks a little like payback to me. I am guessing we may see more of these things. Companies don't mind making adjustments IF things like tax cuts or tax forgivness deals are floated to entice them to do something as it really DOES help the business decisions. BUT NO COMPANY wants to be bullied into a decision that they see as detrimental to stockholders. (BTW, for MOST of the "tweets" that our POTUS-elect aimed at some of our largest companies to bully them, the stocks immediately lost a couple of percent. Not sure I like a POTUS with that power on the markets vs the companies performance)
I think it is OK for a POTUS to make general economic policies that pertain to overall economic policy for companies in general or the public in general but when he or she starts targeting specific companies there WILL be payback.
This announcement COULD have been made a week or so before or after the election day. This WAS a message IMHO.
Just as an aside, I wonder how much of the incentive $$ that the companies that were targeted by Trump and their investments in plants in the US will be in automation vs actual people. I think again they will take this opportunity to modernize at the expense of the actual working force. Guess we will know the answer to this as the new investments are done at the specific plants.
Last edited by tennyson (1/19/2017 8:11 am)
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Re: 2,000 GM workers to lose jobs on Trump Inauguration Day
The complexities of laying off part of a workforce, from following union rules, to handling severance payments, and providing temporary benefits, to all of the other logistics involved tells me that it really is a coincidence rather than GM trying to make a point.
It sucks for those employees and I hope they can get back into the workforce soon. Thankfully the social safety net is there.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- Goose
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Re: 2,000 GM workers to lose jobs on Trump Inauguration Day
Coincidence or not, I really have no idea.
But, the politics sure are interesting. If you look about, you see stories in the media and the exchange crowing about jobs and investment by Carrier, Walmart, and yes, GM.
If president Smith or his followers claim credit for every job created in America, they risk having folks draw a straight line back to them every time someone loses a job in America.
Indulge in the fantasy in one direction, own it in the other.
The president is not some job super hero, flying about, saving 500 jobs here, 200 there.
His effect on the economy is much more nuanced. The unsophisticated need to learn this.
Last edited by Goose (1/19/2017 8:43 am)
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- tennyson
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Re: 2,000 GM workers to lose jobs on Trump Inauguration Day
TheLagerLad wrote:
The complexities of laying off part of a workforce, from following union rules, to handling severance payments, and providing temporary benefits, to all of the other logistics involved tells me that it really is a coincidence rather than GM trying to make a point.
It sucks for those employees and I hope they can get back into the workforce soon. Thankfully the social safety net is there.
You might be correct, BUT the thing that struck me is that this announcment COULD have been made last week or next week. The coincidence of it being made inauguation day seems more than just a coincidence to me. But that is just MHO.
I know as a person who ran a business I NEVER wanted to feel bullied into making ANY business decision and perhaps that is why I feel this way.
The bottom line is we will likely never know unless someone "spills the beans" which is unlikely.
I certainly do agree that it is very bad news for those being laid off as it always is in such cases.
Last edited by tennyson (1/19/2017 8:46 am)
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Thread Starter- Goose
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Re: 2,000 GM workers to lose jobs on Trump Inauguration Day
Could be a message.
You are the Prez,,,,, of the US,,, Not GM!
Oh boy, some of the poor folks who lost jobs are appealing to Trump to fly out there and save their jobs.
Well, he made himself personally responsible for all jobs in America.
Get to work Donald
Last edited by Goose (1/19/2017 9:35 am)
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.