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

Here's something I posted in another thread tonight. The IMF (International Monetary Fund) has increased its estimates of U.S. Economic Growth today. They credit Donald Trump's policies for that upward revision.

Source: www.cbsnews.com...

I don't know a darn thing about the IMF.. other than those initials used to be on the front a binder that Peter Graves opened, at the beginning of the Mission Impossible TV show, when I was a kid.

a reply to: carewemust

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

en.wikipedia.org...

Increased vehicle prices in association with increased gas prices make them very happy.

a reply to: Springer

I think that the corps have been misleading the public and the politicians have followed with a huge campaign contribution grin.

The constant drum beat of not being competitive and that Americans get paid too much and are lazy and are not innovative was and is a lie. All this worker bashing was accompanied with huge profits gained by moving manufacturing to third world labor pools.

Now we may, and I did say may, have a person who gives 1/2 a sh)( for the "regular" people of the US. I hope this is for real.

a reply to: JinMI

Simply grabbing the limelight while it's on.

k. well thats great that you have cynical opinions but that doesnt make said opinion the truth. why did you even comment?

a reply to: AVoiceOfReason

Keep reading for the answer to your question.

why did you even comment?

I can ask the same of you.

originally posted by: AVoiceOfReason
a reply to: JinMI

Simply grabbing the limelight while it's on.

k. well thats great that you have cynical opinions but that doesnt make said opinion the truth. why did you even comment?

Being from Michigan and a Trump supporter too, I agree with JinMi. GM expansion has been in the works for quite some time. Trump shouldn't take the credit, Michigan State government worked this deal out with GM long before Trump was even taken seriously as a candidate.

a reply to: CynConcepts

It's hitting the news now, officially. They are really running with this. I think I found out why.

Dated Dec. 2 2016

Barra, GM’s first woman chief executive, confirmed her membership on Trump’s Strategic and Policy Forum in a statement today, saying she was pleased to join the group “because it offers us a seat at an important table where we can contribute to a constructive and open dialogue about key policy issues.”

www.freep.com...

a reply to: [post=21766888]CynConcepts[/post

Is there a source? I live in west Mich. And have not heard a peep, but I will not watch the talking heads with capped teeth in the media (self imposed media black out).

a reply to: seasonal

Did you by chance see my link from 2015 stating exactly this same headline?

a reply to: JinMI

No, but were these companies planning on allowing the fruits of these investments going to anyone other than Obama?

Or is this just lag time from the mess Reagan, both Bushes and Clinton made with the ramp up of the bank face plant? In other words is this all constipated growth that was needed but put on hold becasue of the 08 crash?

originally posted by: seasonal
a reply to: [post=21766888]CynConcepts[/post

Is there a source? I live in west Mich. And have not heard a peep, but I will not watch the talking heads with capped teeth in the media (self imposed media black out).

Apparently, Canadians were aware of GM investing 5.4 billion in the US in the next coming years. Check out their article on Canadians losing jobs due to GM expanding in Michigan. Dated May 2015. S ource link

Wasn't able to grab any quotes with my IPad...but read it for yourself. Trump has nothing to do with GMs expansions.

Edit add: GM has been expanding in Michigan for years. They had a rough time during the energy crisis of 2008-2010...and slowed down. Flint, Detroit, Lansing, Warren, Pontiac, etc. all across the state for the last couple of years, they have been expanding as soon as the Michigan Strategic Fund approved their tax credits.


Edit add2: Though, they did take advantage of the 25billion dollar bailout put forth by Bush for the automotive industry. So, if anything, one may have to give some credit to 'ahem...' Bush!

a reply to: seasonal

Here have a read.

www.mlive.com...

This is not new and certainly wasn't in reaction to Trump although I'm thinking that the new CEO and Trump advisor really want it portrayed that way.

originally posted by: JinMI
a reply to: CynConcepts

It's hitting the news now, officially. They are really running with this. I think I found out why.

Dated Dec. 2 2016

Barra, GM’s first woman chief executive, confirmed her membership on Trump’s Strategic and Policy Forum in a statement today, saying she was pleased to join the group “because it offers us a seat at an important table where we can contribute to a constructive and open dialogue about key policy issues.”

www.freep.com...

I think that she is a great addition to the group. She is one smart lady. Though, I could be bias, as a woman and I still love my American made 1994 GMC 2500 truck, nothing like having a real 4x8 space between the wheel hubs to fit lumber sheets in so perfectly!

a reply to: CynConcepts

Thanks for the source. If it happens under Obama, he should have "credit". Trump the same.
Of course these big corps are lumbering dinosaurs and take a long time to turn, and I mean that in the best of terms.

a reply to: JinMI

yeah you could. two wrongs dont make a right. right?

I'm not sure if it originated with Trump but I like the idea of setting tariffs for products from China because it will offset or level the price of goods from China with goods made in the USA. The reason why people go to China is to save money on production/manufacturing costs, but if the cost of producing goods is close to equal here and abroad then you would level the play field.

The downside might be an increase in monotonous factory jobs but I guess better to have work than not.

a reply to: nOraKat

There would be a line out the door for good paying boring factory jobs.

originally posted by: seasonal
a reply to: JinMI

No, but were these companies planning on allowing the fruits of these investments going to anyone other than Obama?

Or is this just lag time from the mess Reagan, both Bushes and Clinton made with the ramp up of the bank face plant? In other words is this all constipated growth that was needed but put on hold becasue of the 08 crash?

Considering the established monetary commitment amount and ongoing timeline, if you're going to praise somebody, praise Bush, but remember that the MEGA deal between MI & GM has existed since 2009, under a D governor & that R president. But the program came into existence in 1995 under a R governor and a D president. So pick whatever combo makes you feel better for the pat on the back.

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

Most of the state's MEGA agreements spanned 20 years, and the state has pledged to honor or amend all previous agreements.

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.

GM North America Manufacturing Manager Bill Shaw said he did not have any specific details on tax incentives at Tuesday's news conference in Flint.

"Right now it's really early in the planning process," Shaw said. "We're not ready to announce that."

www.mlive.com...

Again, Trump has diddly s# to do with pre-existing commitments and plans.