Trump Calls Out GM For Abandoning American Workers After US Bail Out

GM paid back the money they were loaned. The do not care about any single nation's plight. They are a transnational organization competing on the world's stage. They will do whatever they need to keep the lights on.

@FAQMD- You sound like a raving partisan fool. This is water under the bridge and ancient history. There is implied risk buying stock and bonds of a big firm in such a capital intensive industry. Shit happens. And it will continue to happen. If you want to bang the same old drum that's fine. But it has no basis in today's market.

— CANADIANCOMMENTS

You are the raving fool here especially when it comes to anything Trump or GOP. Water under the bridge? Tell that to the SECURED creditors (Bondholders) whom got illegally screwed over so Hussien could score political points and repay back his boss -the UAW so the Union/UNSECURED creditors/Dog Fuckers United (that helped BK GM in the first place) could get paid before the SECURED lenders did. That was one of the biggest political Fuck Yous ever orchestrated by any administration and forever altered the fund-ability of big business. It is only "ancient history" to the Takers and not the Makers whom had the real skin in the game.

@QEW- This is all happened more than 10 years ago. Let it go... There are much bigger fish to fry in 2019. Like who will be on the list of last man standing in the auto business besides Toyota?

Not sure "current" GM actually paid back the bailout loan. Chrysler Corp did that in the mid-90's. Maybe some people confuse the two events. Anyhoo....

The US govt did bend some rules to keep a major (TLTF - too large to fail) corporation afloat. Which made economical sense at the time. GM was able to split from it's heavy debt & forced to shed division/brands through sales, closures, etc. But remained under heavy govt scrutiny for a few years following. GM getting "smaller" meant it had to also divest or close dozens of low-performing facilities across the country. The company worked hard to find potential small-biz buyers before deciding to outright close many facilities as production was relocated to more efficient locations.

GM didn't abandon the US market. It did take a generous beating industry-wise - while operating as it normally should - to survive. A bankrupt GM would've been dismantled among industry competitors & all those secondary local businesses that support GM would've gotten crushed. Youngstown would've been one of dozens of hard-luck small-town disappointments for (45) to tweet about.

WTF does "transnational" mean? Getting their identity cut off so they can be Canada?

@MD

Transnational Corporation
Also found in: Financial, Encyclopedia.
Transnational Corporation
Any corporation that is registered and operates in more than one country at a time; also called a multinational corporation.

A transnational, or multinational, corporation has its headquarters in one country and operates wholly or partially owned subsidiaries in one or more other countries. The subsidiaries report to the central headquarters. The growth in the number and size of transnational corporations since the 1950s has generated controversy because of their economic and political power and the mobility and complexity of their operations. Some critics argue that transnational corporations exhibit no loyalty to the countries in which they are incorporated but act solely in their own best interests.

U.S. corporations have various motives for establishing a corporate presence in other countries. One possible motive is a desire for growth. A corporation may have reached a plateau meeting domestic demands and anticipate little additional growth. A new foreign market might provide opportunities for new growth.

Other corporations desire to escape the protectionist policies of an importing country. Through direct foreign investment, a corporation can bypass high tariffs that prevent its goods from being competitively priced. For example, when the European Common Market (the predecessor of the European Union) placed tariffs on goods produced by outsiders, U.S. corporations responded by setting up European subsidiaries.

Two other motives are more controversial. One is preventing competition. The most certain method of preventing actual or potential competition from foreign businesses is to acquire those businesses. Another motive for establishing subsidiaries in other nations is to reduce costs, mainly through the use of cheap foreign labor in developing countries. A transnational corporation can hold down costs by shifting some or all of its production facilities abroad.

Transnational corporations with headquarters in the United States have played an increasingly dominant role in the world economy. This dominance is most pronounced in the developing countries that rely primarily on a narrow range of exports, usually primary goods. A transnational corporation has the ability to disrupt traditional economies, impose monopolistic practices, and assert a political and economic agenda on a country.

Another concern with transnational corporations is their ability to use foreign subsidiaries to minimize their tax liability. The Internal Revenue Service (IRS) must analyze the movement of goods and services between a transnational company's domestic and foreign operations and then assess whether the transfer price that was assigned on paper to each transaction was fair. IRS studies indicate that U.S. transnational corporations have an incentive to set their transfer prices so as to shift income away from the United States and its higher cor

@CC You're a triggered, snobbish dumbass. The more universal term is "international".

@MD- Actually the correct term in this case is Transnational. A big company with plants all over the world is international. A big company with major regional headquarters in major centres responsible for all the operations in that region like GM Europe or Ford Canada is Transnational. #books #news #think

#INTERNATIONAL

Get back to me when you finish your education. Believe it or not some people actually go beyond high school. Did you even finish that?

@MD- You need to learn to yield and admit defeat when the overwhelming evidence presented does not support your opinion or stance. Debating issues is fun but beating a dead horse, not so much.

@CC and you think it's about that. How sad. This is 100% about the spider and the fly. I set you up to flail in the web I've cast and you do, then I do it again and you flail again, and I do it again and you flail again and so on because you're too stupid to see you're getting played. You write diatribes that TheSteve would have written, but as with him, they matter not a lick to me. You're the fly and I'm the spider. Wake up!

@MD- Actually it's really more about you seeing yourself as righteous but continuing to insult and name call just about everyone on this site. Perhaps some reflection on this would do you well. Or you can find another car site to call home.

More lies from the president. GM is one of the smallest auto manufacturers in Detroit? Lol. It's still the biggest by far.

GM makes cars in China mainly for the Chinese market. They would be dead in the water without that brilliant move. Has nothing to do with the domestic market.

His stupid tariffs would destroy GM if they hadn't been smart enough to start production in China years ago.

Selling cars is a global business. He obviously doesn't get it.

GM is on the verge of total implosion.

Lol. You Trump worshiping kool-aid drinkers will believe anything. It's pretty hilarious.

GM makes a ton of money, it ain't going anywhere and dimwits like you should be thankful for that.

Obamma, the Kenyan Turd and the corrupt UAW received BILLIONS so they decided to forget and ignore the American workers.
Typical Democrat liberal greedy, selfish behavior.

1 - THe Bailout of GM was approved by George W. Bush - not Obama.
2 - Cars stopped selling in the AMERICAN market(Crossovers now rule the market) - in this case - FORD and FCA both closed down major car production before GM did - but eventually GM had no choice but to do the same.

However - GM maintains is Corporate position as an American Company - something FCA of course does not

The bailout was approved by W and misused by Barry the Stain... big difference be allocating funds and using them to buy votes, pay off allies and screw your enemies... big difference between W and the Stain...

Matt said: WTF does "transnational" mean? Getting their identity cut off so they can be Canada?

Laugh My Ass Off !!!

@runninglogan This is hate speech: "...You Trump worshiping kool-aid drinkers..."

Lol. Snowflake.

Good on Trump in this case, a little pressure from on high is not a bad thing. Push them to look at keeping jobs and factories here if possible is fine with me. Ultimately GM will do what it has to so to remain competitive, however a bit of pressure to take another look is not a bad thing IMHO.

So many @$$ holes here, especially the idiot who wrote: President Donald Trump, who is engaged in a trade war with Beijing. If that dumb@$$ doesn’t realize “China” has been routing American intellectual property, stealing from the Pentagon from Corporate America... and Trump actually says no more and he’s somehow “starting a trade war?”... stick to cars idiots... such BS is growing tiresome, especially from cowards...