GM CEO Barra hauled to Capitol Hill this week over job cuts

[Yo_Mama_Been_Loggin]

U.S. lawmakers are hauling General Motors CEO Mary Barra to Capitol Hill for a series of private meetings this week as the company comes under fire after announcing up to 14,000 job cuts.

Barra isn't publicly testifying this week, GM spokeswoman Jeannine Ginivan confirmed. She's scheduled to meet behind closed doors with several lawmakers representing regions that will be hit hard by the cuts, congressional aides said.

Ohio Sens. Rob Portman, a Republican, and Sherrod Brown, a Democrat, as well as Democratic Rep. Tim Ryan, are scheduled to meet with Barra Wednesday afternoon. She's also meeting Wednesday with Maryland lawmakers, including Rep. C.A. Dutch Ruppersberger, a Democrat.

Barra's scheduled to meet Michigan Sen. Gary Peters, among other lawmakers, on Thursday.

https://www.msn.com/en-us/money/companies/gm-ceo-barra-hauled-to-capitol-hill-this-week-over-job-cuts/ar-BBQxvEd?li=BBnbfcL


Why are they afraid of open hearings?

[pecosbob]

1. Why are Republicans afraid of open hearings?

FTFY, with all due respect...I don't think this of Sherrod Brown or Tim Ryan at all.

That being said, what do they expect him to say? "We're a corporation and the bottom line is our only consideration'? That's the stark truth...GM does not care one bit about workers' welfare or the economy as a whole.

[still_one]

2. Even if they did care, if the vehicles aren't selling, for whatever reason, are they expected to

take a loss?

There closing the plants on the vehicles that aren't selling, and unfortunately that means layoffs.

No doubt this was helped along by the trade war and tarriffs on steel and Aluminum.

Ford is in a similar situation, and from my understanding Ford is cuttin out most of their automobile line in the U.S.

[Hermit-The-Prog]

3. who decided on the marketing?

The auto makers have been marketing these little trucks as cars for a couple of decades. Wonder why 'consumers' want these instead of cars?

[still_one]

6. GM is dropping 6 cars lines, not because they have been marketing little trucks as cars, but because

people do not seem to be buying them:

https://www.consumerreports.org/general-motors/gm-to-drop-some-sedans/

"Why Is This Happening Now?
The domestic automakers have a long legacy—and a lot of sales success—with trucks, says Ed Kim, vice president of industry analysis at AutoPacific, and many import brands have lots of sedan history and heritage.
“While sales of stalwarts like Toyota Camry and Corolla are declining, they still represent massive volume,” Kim says.
Sales of the Big Three’s sedans have taken a proportionally much bigger plunge because they haven’t been as popular. Because of that, the Asian brands aren’t in a rush to abandon cars.
“They’ll just own the sedan space even more than they do now,” he says.
Also, Kim notes, it looks like GM is trying to be ready for any possible downturn in the economy. The automaker went through a painful bankruptcy in 2008 and likely doesn’t want to repeat that experience, he says."

“Keep in mind that everything we have seen from GM, post-bankruptcy, has reflected a level of foresight and proactive behavior that is completely unlike the old GM,” he says. “The culture is much more forward looking than it has ever been in recent memory.”
And all automakers are looking to maximize returns, says Joe Langley, associate director of vehicle forecasting for IHS Markit, an industry analysis firm. Ultimately, he says, “every vehicle has to stand on its own merit. If a vehicle is losing money by just turning on the lights, then it’s got to go.”
Last, this is one result of the ongoing battle over tariffs, Kim says. The company has said that tariffs on imported steel have cost it $1 billion.
“As GM, like most other automakers, is a truly global operation, the tariff wars are having a detrimental impact on its business,” he says. “This is another factor behind GM’s changes, and they hurt American jobs in the process.”

[Hermit-The-Prog]

7. marketing doesn't have an effect on what people buy?

[pecosbob]

4. agreed

with all the drama on tariffs, I don't recall if the administration actually issued or changed any current auto tariffs, or if they just threatened to do so.

But yeah, car company's gonna do what car company's gotta do...to expect them to do anything else would be foolish.

[Sherman A1]

5. Theater

Nothing more.