General Motors to announce $1 billion in U.S. investment

Another coincidence, GM is investing $1 billion in US factories. GM said this decision was a business one not political. In the last month car companies have said they plan on investing $13 billion in the US. Odd that it is happening right now.

WASHINGTON, (Reuters) - General Motors Co (GM.N) will announce as early as Tuesday long-held plans to invest about $1 billion in its U.S. factories, following recent criticism of the company by President-elect Donald Trump, a person briefed on the matter told Reuters late on Monday.

The largest U.S. automaker is making the decision for business and not political reasons, said the person, who asked not to be identified.

finance.yahoo.com...

Trump has been nipping at quite a few companies and they have responded, for business reasons, not political. Who cares why as long as they get the point that Trump may be different than the other bought and paid for presidents.

Since the beginning of this year, GM has come under heavy criticism from Trump for building vehicles in Mexico, as have other automakers. On Jan. 3, Trump threatened to impose a "big border tax" on GM for making some of its Chevrolet Cruze compact cars in Mexico.

At a news conference last week, Trump cited recent U.S. investments by other automakers and said "General Motors will be following, and I think they will be."

a reply to: seasonal

Simply grabbing the limelight while it's on.

If someone told you not to put your hand on a lit stove and you posted a video declaring that you did not touch a hot stove, should we hold you in high regard?

P.S.

I don't mean to derail your threads with slightly off topic things. It just seems like were missing the point to some of these MSM narrated stories.

I have a neighbor who works for GM in Grand Rapids and said they'd be investing in various plant expansions when we moved in.

That was over 2 years ago. So yes, pre-planned and not Trump's doing.

Well, if I was GM and I was going to invest in America because with Trumps upcoming administration things would get better, I wouldn't be mentioning that Trump had anything to do with it. If they did, then the Democrats would boycott buying GM cars, that seems the trend today, make sure Trump supporters fail.

We got a major problem occurring in America right now, a country divided and this is not good.. We need to get the people stirring all this stuff up to stop.

a reply to: Nyiah


Exactly. In fact many tool and die shops (mine included) have been anticipating and adapting to the influx of work from the big 3 and Nissan/Toyota over the last few years. One of the larger ones put a billion into its shop a few years ago.

originally posted by: Nyiah
I have a neighbor who works for GM in Grand Rapids and said they'd be investing in various plant expansions when we moved in.

That was over 2 years ago. So yes, pre-planned and not Trump's doing.

Yep its funny how it was all talk 2 years ago and now the Trump man is in an opportunity has arrived now its turning to action!

Mr T strikes again, i call it the Trump ripple effect.

Its a coincidence all these jobs are appearing now isnt it.....

originally posted by: muSSang

originally posted by: Nyiah
I have a neighbor who works for GM in Grand Rapids and said they'd be investing in various plant expansions when we moved in.

That was over 2 years ago. So yes, pre-planned and not Trump's doing.

Yep its funny how it was all talk 2 years ago and now the Trump man is in an opportunity has arrived its turning to action!

Mr T strikes again, i call it the Trump ripple effect.

Its a coincidence all these jobs are appearing now isnt it.....

< face palm > Yes, it is a coincidence. GM Holdings GR has been revamping it's plant for a WHILE now, like, over a year. Local news is no stranger to keeping up on it. They expect to expand enough to employ up to 200+ additional people, 1/5 of the 1k they just announced.

Holy s#, people are fanboying hard.

originally posted by: JinMI
a reply to: Nyiah


Exactly. In fact many tool and die shops (mine included) have been anticipating and adapting to the influx of work from the big 3 and Nissan/Toyota over the last few years. One of the larger ones put a billion into its shop a few years ago.

Then you more than likely know of the plant I just posted, and know it's not new news, it's ongoing upgrades & adaptions to a very old building they'd been planning expansion for and working on for years

originally posted by: Nyiah

originally posted by: muSSang

originally posted by: Nyiah
I have a neighbor who works for GM in Grand Rapids and said they'd be investing in various plant expansions when we moved in.

That was over 2 years ago. So yes, pre-planned and not Trump's doing.

Yep its funny how it was all talk 2 years ago and now the Trump man is in an opportunity has arrived its turning to action!

Mr T strikes again, i call it the Trump ripple effect.

Its a coincidence all these jobs are appearing now isnt it.....

< face palm > Yes, it is a coincidence. GM Holdings GR has been revamping it's plant for a WHILE now, like, over a year. Local news isn't no stranger to keeping up on it. They expect to expand enough to employ up to 200+ additional people, 1/5 of the 1k they just announced.

Holy s#, people are fanboying hard.

Oh my some people are so far up their bum they cant see reality.

Read the article! It was planned but no decision was made.....

Me thinks you either cannot read or hate Mr T

a reply to: Nyiah

You could say I'm right in the middle of it. 2008 saw many GM/Ford plants close as you know and subsequently the die shops and metal shops that followed. Not to mention the eateries and stores. Around 2012 you saw an incline and response to the increasing demand due to foreign car makers putting plants back into the states. The big 3 and theirs suppliers as well as Tesla have increased in demand and thus looking for local supply.

If anything, Trump has scared them a little with trade and tariff talks to further keep them in line with their already increased production. Small if given as we both know this was already a re-emerging industry.

a reply to: muSSang

Trump voter here. This has all already been going on. I work in the tool and die industry and my family works in steel and GM/Ford supply shops.

Giving credit to Trump is not quite accurate.

originally posted by: muSSang

originally posted by: Nyiah
I have a neighbor who works for GM in Grand Rapids and said they'd be investing in various plant expansions when we moved in.

That was over 2 years ago. So yes, pre-planned and not Trump's doing.

Yep its funny how it was all talk 2 years ago and now the Trump man is in an opportunity has arrived now its turning to action!

Mr T strikes again, i call it the Trump ripple effect.

Its a coincidence all these jobs are appearing now isnt it.....

No its not a coincidence, import tariffs have scared the big company's into investing locally rather than Mexico
Trump has had an effect already
It cant be argued with

I'll just leave this here.

www.mlive.com...

Dated Dec. 15 2015

a reply to: seasonal

It's cause and effect... The vote (like it or not) caused a non professional politician to get the big chair. That non professional politician said he'd Rock The Boat of the U.S. companies, et-al, who didn't do the minimum to act in the US' best interests first.

The effect has been many corps claiming they were about to do these things anyway, and have been for a "long time", yeah right..

We'll see what the shareholders and open markets think of these "new/old" plans and whether they have any genuine impact on he U.S. economy.

I have a feeling it might prove to be an interesting time to be alive.

a reply to: Raggedyman

Oh they will argue. I fall on your side. I think the big corps know Trump is serious, and no CEO wants to tell his share holders about a huge tariff because they wanted to ship jobs to 3rd world faceless labor pools.

a reply to: Raggedyman

Great point, nothing scares boards like money vaporizing due to additional costs of sale from tariffs.

That said, nothing destroys business like profits vaporizing due to exploding costs that the consumers can't absorb, there's a lot going on here that needs to hit on all cylinders or it just goes south like so many of the past protectionist schemes have before it.

I am optimistic, but, I am always optimistic.

I can't wait to see how it works out.

This has already been in the works. Giving the credit to Trump is disingenuous at the very least. Don't get me wrong, I'm all for whatever it takes to keep these jobs and creating more, in fact as stated above, my livelihood depends on it.

It's also worth noting that this will inevitably increase the price of a new vehicle, something the banks are all for mind you.

originally posted by: JinMI
I'll just leave this here.

www.mlive.com...

Dated Dec. 15 2015

Let me quote some of that, because you know the know-it-alls won't bother clicking that link.

GM to invest $1 billion in Michigan over next 14 years with MEGA tax break
on December 15, 2015 at 2:07 PM, updated December 15, 2015 at 4:17 PM

General Motors says it will invest $1 billion in Michigan by 2030 with a deal between the automaker and the Michigan Economic Growth Authority tax credit program.

Tuesday's announcement accounts for more than a third of GM's commitment of $1 billion in investment in the state over the next 14 years.

The MEGA board approved an amendment today to its 2009 tax credit deal with GM.

New MEGA credits were eliminated when Michigan eliminated the Michigan Business Tax in 2012 in favor of the Corporate Income Tax.

"Further, GM has agreed to $1 billion in new capital investments over the next 14 years. These latest investments demonstrate GM's intention of growing and maintaining operations far into the future."

GM's previous MEGA tax credit dates back to 2009 and called for 30,000 retained jobs. The agreement had retained 32,890 jobs as of Dec. 31, 2014, the MEDC said.

Since 2009, GM has made investment commitments of more than $9 billion, surpassing its original investment commitment under the original MEGA agreement, the MEDC said.

Unless Trump has a sooper seekrit time machine, or did his threats thing well before ANY voting stage began, it might be wiser to just admit it's a continuation of what they've already planned out and committed to many years in advance.

a reply to: Nyiah

Thanks for that Nyjah. As I stated above, just grabbing the limelight while it is on.

As a voter for Trump I think if he has anything of merit going forward they should be his own. Taking credit or accepting it when it is clearly not due will not do anyone any favors.

What really gets me is this was reported at Yahoo. Pretty much tabloid leftist and Hollywood stories so for them to portray Trump in any sort of positive light is rather odd.

originally posted by: JinMI
a reply to: Nyiah

Thanks for that Nyjah. As I stated above, just grabbing the limelight while it is on.

As a voter for Trump I think if he has anything of merit going forward they should be his own. Taking credit or accepting it when it is clearly not due will not do anyone any favors.

What really gets me is this was reported at Yahoo. Pretty much tabloid leftist and Hollywood stories so for them to portray Trump in any sort of positive light is rather odd.

Meh, it's Yahoo. Their "reporters" are questionable quality at best and their angle is all over the place. I think it has a lot to do with the company struggling to stay afloat and desperate to find a reliable clickbait cashflow.