General Motors

Trump Touts "People Are Seeing Big Stuff” After GM Unveils 7,000 New U.S. Jobs

"As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners.  The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”

GM Will Invest Over $1 Billion In New US Factories, Create More Than 1,000 Jobs

General Motors will announce plans to invest at least $1 billion across several U.S. factories, the WSJ reported, a move aimed at underlining GM's "commitment to U.S. manufacturing jobs" following Trump’s criticism of the auto maker’s imports from Mexico. GM will also create over 1,000 new stemming from the investment.

Hoover's Folly

It is premature to make investment decisions based on rhetoric and threats. It is also possible that much of this bluster could simply be the opening bid in what is a peaceful renegotiation of global trade agreements. Regardless, we must pay close attention as trade conflicts and their consequences can escalate quickly.

GM Shares Jump 5% After Forecasting Higher 2017 Profits, Strong China Sales, $5 Billion Buyback

GM stock is surging after CEO Mary Barra, who is presenting at Deutsche Bank conference, gave good news to shareholders when she revealed the company's 2017 adjusted EPS forecast, which at $6.00-$6.50 was well above the consensus estimate of $5.73, and also substantially above the 2016 year end guidance which forecast the carmaker would make "at the high end" of a $5.50-$6.00 range.

FBI Arrests Volkswagen Exec Charged With Conspiracy To Defraud The US

While various other carmakers, such as GM, Ford, Fiat and Toyota, have had their share of headaches in recent weeks worried if and when Trump will tweet about them next, the epicenter of all car scandals over the past two years remains Volkswagen, and sadly for the German carmaker things continue to get worse: according to the NYT, the FBI haed arrested a Volkswagen executive on charges of conspiracy to defraud the United States. 

Frontrunning: January 9

  • European shares dip, sterling falls on Brexit comments (Reuters)
  • Pound Falls to 10-Week Low as May Hints at Single-Market Exit (BBG)
  • Offshore Yuan Falls for Second Day as Bears Reload After Squeeze (BBG)
  • Trump's choices for top Cabinet posts face big tests this week (Reuters)
  • Nine Trump Nominees Who’ll Face Extreme Vetting by Democrats (BBG)
  • Meet the Mercers: New Power Brokers in Trump’s Washington (WSJ)

Fiat Chrysler To Invest $1 Billion In The US, Add 2,000 Jobs

Suddenly the coolest thing in corporate America is announcing major capital investments in the US while adding thousands of American jobs, in other words the opposite of the globalization trend of the past 30 years, in yet other words, doing precisely what Donald Trump demands.

An Angry Japan Responds To Trump's Toyota Taunts

Japanese government officials pushed back against Donald Trump’s criticism of Toyota as the attack on the country’s most powerful corporate name sent shockwaves across Japan Inc.

Frontrunning: January 4

  • Trump Tariff on GM Would Violate NAFTA. That May Not Stop Him (BBG)
  • Obama Tries to Save Parts of Health Law Amid GOP Attack (WSJ)
  • Trump Puts Auto Makers, Trade Policy in Spotlight (WSJ)
  • British consumers borrow at fastest rate in 11 years as inflation threat rises (Reuters)
  • Investment banking fees fall 7 percent in 2016 dragged down by equity raisings (Reuters)

Risk On: 2017 Stock Rally Continues As Global Inflation Accelerates

Following another day of upbeat economic data, with growing signs that inflation on both sides of the Atlantic is accelerating, investors rediscovered their faith in the Trumpflation rally, pushing global stocks and US equity futures higher, fuelling a second day of 2017 equity gains ahead of today's release of the Fed's December minutes.

GM Responds To Trump: You're Wrong

In a terse and non-deferential response to president-elect Trump's tweet, GM has responded with a statement which can be summarized in two words: "you're wrong."