About jobs being lost overseas - Under Restructuring, GM To Build More Cars Overseas »
Posted By pc25 6 months ago in News
The U.S. government is pouring billions into General Motors in hopes of reviving the domestic economy, but when the automaker completes its restructuring plan, many of the company's new jobs will be filled by workers overseas.
Read Full Story at washingtonpost.com »
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pc256 months ago
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This begs the question why bailout the BIG 3
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As a result, the long-simmering argument over U.S. manufacturers expanding production overseas -- normally arising between unions and private companies -- is about to engage the Obama administration.
Essentially in control of the company, the president's autos task force faces an awkward choice: It can either require General Motors to keep more jobs at home, potentially raising labor costs at a company already beset with financial woes, or it can risk political fury by allowing the automaker to expand operations at lower-cost manufacturing locations.
"It's an almost impossible dilemma," said former labor secretary Robert B. Reich, now a professor at the University of California-Berkeley. "GM is a global company -- so for that matter is AIG and the biggest Wall Street banks. That means that bailing them out doesn't necessarily redound to the benefit of the U.S. or American workers.
Obama HAS NEVER RUN A DAMN THING IN HIS LIFE AND IT IS BEGINNING TO SHOW.......THE PRESIDENCY OF THE US DOES NOT LEND ITSELF WELL TO ON THE JOB TRAINING -
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k9kssr6 months ago
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FTA: "If we start making political decisions with the auto industry, we're going to be in tremendous trouble," said Michael Robinet, vice president of global vehicle forecasts at CSM Worldwide."
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I thought we were already doing that. -
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nostalgia6 months ago
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What economic indicators are you seeing that tells you the economy is going to recover soon?
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New mortgages:
"The Next Housing Bust - WSJ.com
Many of these have the same characteristics as subprime loans: low downpayment requirements, high-risk borrowers, and in many cases shady mortgage originators. FHA now insures nearly one of every three new mortgages, up from 2% in 2006.
What has changed with these banks?
I thought the problem was largely the toxic assets on the books - they are still there
According to bloomberg.com May 5
Fed Stress Tests to Show About 10 Banks Need Capital
The Federal Reserve plans to deliver results of stress tests on U.S. banks to executives today that may show about 10 companies need additional capital to weather a deeper recession, people familiar with the matter said.
Banks are formulating plans for filling their capital requirements, much of which would likely come from conversions of preferred shares, the people said. Many of the 19 lenders under review and the government are set to discuss publicly the examinations after markets close May 7, the people said.
Have banking started lending again - NO
So exactly what has changed except huge govt spending and the eds monetizing debt?
Do you have ANY idea how high inflation is going to be? When that occurs the Federal Reserve will increase interest rates. What will increased interest rates do to the economy?
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Justice4All6 months ago
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Bush can be accused of many things but being pro-business is not one of them. The Bush adminstration has made it more difficult for Americans to work overseas and for American companies to operate. The best option was simply to move the entire base overseas and incorporate in another country.
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This will be a difficult trend to reverse.-
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nostalgia6 months ago
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Do you see Obama as pro-business by raising taxes on US companies who have operstions overseas?
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I thought most of the left on Propeller were saying Bush was too pro-business and promoted shipping jobs overseas
Can't have it both ways
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