Union Leader: ‘GM Won’t Close Plants Without A Hell Of A Fight’

Monday, November 26, 2018
By Paul Martin

by Tyler Durden
ZeroHedge.com
Mon, 11/26/2018

Update 5: The Trump Administration can’t say they weren’t warned.

Marry Barra is meeting with Trump Chief Economic Advisor Larry Kudlow on Monday after announcing that the company would lay off as many as 14,700 workers in key swing states that helped elect Trump in 2016.

Barra warned the administration over the summer that auto tariffs would lead to “a smaller GM.” Now that’s happening (though the administration is still mulling a decision on auto tariffs). Meanwhile, Jerry Dias, the head of Canadian autoworkers union Unifor, said that GM won’t be closing its Oshawa plant without “a hell of a fight.”

Update 4: The massive job cuts that GM is undertaking as it closes five plants in North America have infuriated politicians in Ontario and the US who will be stuck grappling with the consequences of how to help thousands of soon-to-be unemployed blue-collar (and white collar) workers. As they have vowed to fight the cuts, autoworkers unions in both countries have raised questions about whether firing thousands of workers violates the terms of the 2009 Treasury funded bailout that saved the “Big Three” US carmakers from bankruptcy.

Now, one former Obama official has weighed in: Steve Rattner, who led Obama’s auto task force, which helped organize and oversee the bailouts, said he doesn’t believe they do. It was always the Obama Administration’s intention that GM and its peers run their businesses responsibly, including implementing meaningful cost-cutting measures to adjust for changes in their business environment.

“I don’t think these violate the 2009 agreement, in part because we always made clear that GM should be free to run its business in the ordinary course,” Steve Rattner, former chief of President Obama’s auto task force, says in an email.

“The passage of more than nine years is an important factor – there has been much change in the auto world over that period and it’s important for GM to be free to adjust its business accordingly,” he added.

The Rest…HERE

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