General Motors Scores $8 Billion Profit While Laying Off 15,000

Jordan Chariton reports on General Motors making $8 billion in profits in 2018 while simultaneously laying off 15,000 workers.

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[vonwane]

Private profits and socialized losses for corporations.

[bgpwrddy]

there should be a 100% tax on corporations, and then decrease ONLY from what is put back into the community in wages and local taxes...

[porkchop]

Its alot to ask, but it's time to deconstruct these jobs numbers.
Millions created? Where? Who are these companies? How many have they of this is not adding up.

[sevier]

Let’s bailout the working class who would have put the $55 billion to better use.

[richarddavies]

But... But the stock market has never been higher, record profits, the DOW is up, wall St is... killing it?

[HulkHulk-fhuf]

After thoses auto workers help GMC through their production make 8 billion dollars profits and their CEO make millions for themselves they give the workers nothing in return. That why the workers should control the mean of production instead of a corporate boards and CEO. That would be true democracy.

[MrDXRamirez]

Best way to end real world horror stories of workers losing jobs from happening over and over again is to end the practice of buying in order to sell and only sell to buy again.

[youngatheart]

We have to stand together ; The American public should not buy any GM vehicle, if GM wants to layoff our workers and move plants to Mexico or whenever for cheap labor then keep your f__ ing vehicles ; you either move all your plants back to the United States ; then keep them ; the people better wakeup ; One more thing congress ought to demand one of two things bring the jobs back or we will offer the plants and its contents to the employees, to buy the plant with low to 0% loans to keep manufacturing here ; We have had enough of the corporate greed !

[davidschlessinger]

it's not just the world socialist party. It's also the party f socialism and liberation. These groups are also some of the only groups, other than progressives, fighting against the wars and military spending

[JustPokey]

I'm about to get a fat profit sharing check from GM next month. This still makes me sick though.

I gave Bernie a lot.

[Dommommy]

I wonder if that's the "understanding" Tim Ryan thought he had with GM. Man, between Brown thinking only seniors need healthcare and taking millions from the health care industry and Ryan and his shenanigans, no wonder everyone's lost faith in Ohio. Northeast Ohio is just about dead.

[youngatheart]

Many different types of cars are assembled or have parts manufactured in Mexico due to relatively low wages and production costs. Some examples are the Honda Fit hatchback and the Ford Fusion.
The Cadillac Escalade EXT and SRX, Chevrolet Avalanche, Chevrolet Aveo, Chevrolet HHR, Chevrolet Silverado and Silverado Hybrid, Dodge Journey, Dodge Ram 2500, Dodge Ram 3500, Dodge Ram 4500, Dodge Ram 5500, Ford Fiesta, Ford Fusion and Fusion Hybrid, GMC Sierra and Sierra Hybrid, GMC Sierra Crew Cab, Honda CR-V, Lincoln MKZ and MKZ Hybrid, Nissan Sentra, Nissan Versa, Volkswagen Jetta and Volkswagen Jetta SportWagen are all assembled in Mexico. Toyota Tacomas are assembled in both Mexico and the United States.

Engines made in Mexico include those used in the Chrysler Jeep Grand Cherokee, Dodge Ram 1500, Ford Escape and Escape Hybrid, GM Buick Lucerne and Cadillac CTS line, Cadillac Escalade Hybrid, Chevrolet Cruze and Malibu, Chevrolet Tahoe Hybrid, GMC Yukon Hybrid and Mazda Tribute Hybrid.

Transmissions made in Mexico include those used in the Dodge Calibur, Chrysler Jeep Compass and Patriot, Ford Shelby GT500, Nissan Altima and Maxima, and a wide range of GM vehicles.

Mexico is currently the second largest exporter of vehicles to the United States and is projected to eventually overtake Japan.

[slickliverpool]

I’m from Detroit and supported the bail out. This whole situation is mind boggling. I just don’t get it. I truly

[MrDXRamirez]

If we want a Green New Deal superimposed on this troika of industries, i.e., auto, oil, and government, than the GND must be funded from the economic surplus this troika generates for itself, that is capitalized into profits for and by the owners of this troika. Profit is the privatization of the economic surplus naturally being produced by labor and capital regardless of their proportions in production is true for all industries of all types. Replacing the machinery that runs on oil with machinery that runs on sun power does not stop the process of production, to the contrary, new cars that run on alternative energy are produced and this eliminates the need for oil and the need for an oil oligarchy. I say this because the New Deal was funded on taxing the rich higher rates, thus a transfer of wealth, from the rich to the poor, creating a Welfare State, we all want to avoid in the future. The New Deal did not involve a new source of energy and therefore did not have to do away with a generic social class over which every industry has its own oligarchy, thus, many oligarchies as a generic class become ' a thing of the past' if all industries each generate their own economic surplus that can fund their own conversion. If a product can not be adapted to a new use even if its conversion has happened the industry will disappear. Government's role would be to identify what industries will perish in the new society and which ones will succeed and invest into its population coping with those changes. The only role government should have in society is defense, health, education, disaster recovery and conservation/renewal of the environment. With oligarchy a thing of the past the conflicts are social not both economic and social with oligarchs in place. New energy will call up new products and government subsidizing the rich or the poor, is a return to the past not a leap into the future.