Tuesday, January 17, 2017

Trump shames companies, and it works

How painful it must be this morning to members of the editorial board of the Wall Street Journal to read in their own paper:
General Motors Plans at Least $1 Billion in Fresh U.S. Investment
The newspaper has denounced President Trump's efforts to increase manufacturing jobs in America.

President Trump shamed Carrier, and Carrier decided against moving to Mexico.

Trump shamed Boeing, and Boeing decided to re-negotiate the $4.2 billion Air Force One it was designing.

Trump shamed Ford, and Ford decided against moving to Mexico.

Toyota, Fiat Chrysler, and now GM are investing billions in America.

They'll buy from American suppliers.

From the Wall Street Journal:
General Motors Co. this week will announce plans to invest at least $1 billion across several U.S. factories, two people familiar with the plan said, a move aimed at underlining its commitment to U.S. manufacturing jobs in the wake of President-elect Donald Trump’s criticism of the auto maker’s imports from Mexico.
GM’s announcement could come as early as Tuesday, the people briefed on the plan said. The company will cite a number of new jobs in excess of 1,000 stemming from the investment but doesn’t plan to specify which of its factories are in line for more work, one person said.
A GM spokesman declined to comment. The Trump transition team didn’t immediately return a request for comment.
The move comes days after Mr. Trump publicly ratcheted up pressure on the nation’s largest auto maker. During his press conference last week, the president-elect thanked Ford Motor Co. and Fiat Chrysler Automobiles for recently announced U.S. investment plans that are expected to create a combined 2,700 jobs. He then turned up the heat on GM to follow suit.
“I hope that General Motors will be following. And I think they will be,” Mr. Trump said.
But the Wall Street Journal's editorial board is now comprised of liberals like Bret Stephens, who openly and repeatedly hoped for a 50-state sweep by Democrat Hillary Clinton.

On December 1, it opined: "Workers don’t prosper when politicians force companies to make non-economic decisions."

Does anyone think the press will ever admit it is wrong about President Trump and the American economy?

At any rate, glad to see GM ignored the Wall Street Journal's strange advice.

@@@

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It covers the nomination process only. The general election will be covered in a sequel.

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13 comments:

  1. Damn! I might have to buy that Camaro now. Way to go GM. This is the most unbelievable pre-Presidency I've ever seen in my life. Ya think DJT commands a little respect? Ohhhh yeahhhh.

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  2. Probably the decisions are not against their best interests but it is hard to know. Trump has some momentum now and is using it for small things. Real help for an economy of 17 trillion will have to come from complex policy involving the Fed and tax changes. These seem to be on track more or less. The WSJ is committed to Trump's failure. As such its rationality has been permanently eliminated. It needs a new owner. However my business friends say it is the only good source left for real news. One even offered to buy me a subscription again but I didn't take it.

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    1. I took it forma while a few years back. When I cancelled they kept sending it and sending bills. I didn't want to have to go to the bother of having to throw it away. Ended up having to call them on the phone twice to get them to quit sending the same thing.

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    2. Damn thing. Stupid autocorrect.

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    3. It took me 4 months and 3 calls. It is impossible to cancel on line.

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  3. I suspect that Trump will talk with Congress and we'll see tax and regulatory changes for the better, reducing the incentives for off-shoring jobs. Even, perhaps, eliminating those incentives.

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  4. Keeping production in the U.S. and hiring Americans may eat into the profit margin in the short term, but rising employment and better pay will enable more Americans to purchase new automobiles. This is good for the profit margin in the long run and good for the nation and its citizens as a whole. - Elric

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    1. Didn't Henry Ford say something about wanting his employees to be able to buy the cars they were making? Kinda goes along with this.

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  5. "Workers don’t prosper when politicians force companies to make non-economic decisions."

    What do they think Obama has been doing over the last 8 years by issuing a torrent of regulations that were designed to control the way all businesses can operate? Like any good Marxist, Obama wanted to micromanage the economy. I doubt Trump will make that serious mistake.

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  6. So the WSJ is a Mad Magazine supplement now?

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  7. Obama would never have lifted a finger to preserve American jobs. Witness his war on coal. Democrats prefer welfare bums to workers.

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    1. Witness the HilLIARy campaign rally in the summer in Indiana when he told people the jobs at Carrier "weren't coming back," that DJT "had no magic wand," and he and the Hildebeest were going to put them through a job retraining program. Typical liberal booshwah.
      -Fred

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