Recently, President Trump criticized harshly Mary Barra—the CEO of GM (General Motors)—by calling her “nasty.” He further said the automaker will not be conducted well moving ahead, about its decision to cut 15% of its North American workers and stop production at several plants.
Trump said in an interview with Fox News, “It did not appeal me, what she did. It was completely horrible. Ohio would be swapping those jobs in 2 Minutes.” The shutdown of five GM plants in Michigan, Ohio, Ontario, and Maryland—which was publicized at the November-end—came as the biggest American automaker looking to reduce costs between restructuring. It can affect over 14,000 employees. GM would also stop the production of some car models, counting the Buick LaCrosse and the Chevrolet Cruze. Barra asserted GM is making the reductions to “get onward of it however the company is firm and while the financial condition is strong,” but also stated that Trump imposed tariffs on imported steel and aluminum have hampered the company. Since then, Barra has drawn the anger of the president—who has mocked her and the company—threatening to slash all subsidies for GM.
On a similar note, recently, Elon Musk said that Tesla would consider purchasing the inactive GM divisions. Tesla will think of buying the factories that GM plans to idle, CEO Elon Musk said during an interview with CBS. He said, “It is possible that we would be concerned. If GM is going to sell a manufacturing unit or not utilize it, then we would take it over.” During a wide-ranging interview Musk made no regrets for his unpredictable conduct in the summer and repeated his lack of respect for the SEC (Securities and Exchange Commission), which accused him in September for allegedly tricking investors after tweeting that he sought to take the company public at $420 per share and had “enough funding.”
Lawrence is among the budding member of our team presenting his skills at simplifying the business-related concepts and terms in a simple manner. By gaining insights into several businesses from across the world, Lawrence puts forth the best of his knowledge and latest trends about a business in his articles in a skillful way. Apart from this, Lawrence also has a keen interest in politics and maintains a separate blog to put forth his viewpoints and opinions on several political affairs.