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Thread: Fiat Chrysler to Invest $1 Billion, Pay Bonuses on U.S. Tax Cut

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    Fiat Chrysler to Invest $1 Billion, Pay Bonuses on U.S. Tax Cut

    Itís getting to be a common theme.....

    https://www.bloomberg.com/news/artic...after-tax-bill


    Fiat Chrysler to Invest $1 Billion, Pay Bonuses on U.S. Tax Cut
    ...........

    Fiat Chrysler Automobiles NV is investing $1 billion in a Michigan truck factory and paying worker bonuses in the wake of a U.S. tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington.

    The Italian-American automaker will share the spoils of a lower corporate tax rate by sending $2,000 checks to about 60,000 U.S. workers. Fiat Chrysler also will spend more than $1 billion and add 2,500 jobs at a factory near Detroit to produce heavy-duty Ram pickups that the company been making in Mexico.


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

  2. #2

    Thumbs up

    Going to be interesting,... and no doubt comical,... on how the socialists/commies here spin this.

  3. #3
    It a terrible development! The corporate elites will get all the money and the very few workers(compared to the population of our planet, indeed, the universe itself) will get but scraps.

  4. #4

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    Quote Originally Posted by jcpro View Post
    It a terrible development! The corporate elites will get all the money and the very few workers(compared to the population of our planet, indeed, the universe itself) will get but scraps.
    ,...

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    They owe the country an investment, after they were bailed out by the Obama administration, otherwise they would NOT be in business today. I think all the right wingers do forget that real fact. Even Trump said he disagreed with the bail out and many right wingers on this board supported that fact.

  6. #6
    This is of course good new for those workers but one time bonuses do not move the needle in raising incomes in the country. We will see in the next few quarters what is happening to i comes. I hope it is positive and if so Trump will deserve some credit.

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    I think the biggest part of this story is moving a truck plant to Michigan.


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

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    Quote Originally Posted by onthebottom View Post
    I think the biggest part of this story is moving a truck plant to Michigan.
    Which would not have been even possible,... if Fiat hadn't bailed them out.

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    Quote Originally Posted by bver_hunter View Post
    They owe the country an investment, after they were bailed out by the Obama administration, otherwise they would NOT be in business today. I think all the right wingers do forget that real fact. Even Trump said he disagreed with the bail out and many right wingers on this board supported that fact.
    If we are going down memory lane you will remember that Bush pulled $13b from the Financial Serves bailout and gave it to GM/ Chrysler in the last month of his Presidency, Obama then picked it up and finished it. Then there was cash for clunkers which was a waste of money.....


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

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    Quote Originally Posted by onthebottom View Post
    If we are going down memory lane you will remember that Bush pulled $13b from the Financial Serves bailout and gave it to GM/ Chrysler in the last month of his Presidency, Obama then picked it up and finished it. Then there was cash for clunkers which was a waste of money.....
    So what do you think that difference with this waste of money is, now that these Executives will give themselves huge bonuses with this cash cow. It is exactly the same as the "clunkers which was a waste of money". At least the Government had some shares in those companies, and Fiat Chrysler then started thriving under the Obama regime.

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    Quote Originally Posted by bver_hunter View Post
    So what do you think that difference with this waste of money is, now that these Executives will give themselves huge bonuses with this cash cow. It is exactly the same as the "clunkers which was a waste of money". At least the Government had some shares in those companies, and Fiat Chrysler then started thriving under the Obama regime.
    Clunkers was a different program from the bailout of the auto industry. You should really pause before commenting on issues you don’t understand.

    Workers win three ways with the tax deal, their paychecks go up (crumbs to Dem leadership), employers are raising pay and paying bonuses, companies are investing and hiring workers (like the 2,500 union jobs that will be created in MI).


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

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    Quote Originally Posted by onthebottom View Post
    Clunkers was a different program from the bailout of the auto industry. You should really pause before commenting on issues you don’t understand.

    Workers win three ways with the tax deal, their paychecks go up (crumbs to Dem leadership), employers are raising pay and paying bonuses, companies are investing and hiring workers (like the 2,500 union jobs that will be created in MI).
    Be more concise in your explanation as there are various clunkers issues, and so was not too sure in that respect.
    Millions of jobs were saved by the bailout that took place. Yes, it was proposed by the Democrats, Bush approved it, but it was vehemently opposed by the Republicans. That is what saved the 3 biggest American auto manufacturers. If you read the posts of the right wingers on this board, they passionately spoke out against it. So let's not be hypocritical in that respect.

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    Quote Originally Posted by bver_hunter View Post
    They owe the country an investment, after they were bailed out by the Obama administration, otherwise they would NOT be in business today. I think all the right wingers do forget that real fact. Even Trump said he disagreed with the bail out and many right wingers on this board supported that fact.
    That is total falsehood.

    The government could have easily said no, and let them fail like a Lehman Brother.

    Of course, what happens in that case is all the auto workers are laid off permanently, and they will lose of all their company pension, because ...

    No job, no pension.

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    Quote Originally Posted by bver_hunter View Post
    Be more concise in your explanation as there are various clunkers issues, and so was not too sure in that respect.
    Millions of jobs were saved by the bailout that took place. Yes, it was proposed by the Democrats, Bush approved it, but it was vehemently opposed by the Republicans. That is what saved the 3 biggest American auto manufacturers. If you read the posts of the right wingers on this board, they passionately spoke out against it. So let's not be hypocritical in that respect.
    It was an appeasement to the labor unions, those companies would have simply restructured (see the Fiat / Chrysler of today) and shedded they crippling pension obligations. Reasonable people can disagree on it being the right move, unlike the banks the US government lost money on the auto bailouts.

    The Cash for Clunkers was a an attempt to subsidize the purchase of cars, google it. Left wing economic instincts at their worst.


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

  15. #15
    Quote Originally Posted by onthebottom View Post
    It’s getting to be a common theme.....

    https://www.bloomberg.com/news/artic...after-tax-bill


    Fiat Chrysler to Invest $1 Billion, Pay Bonuses on U.S. Tax Cut
    ...........

    Fiat Chrysler Automobiles NV is investing $1 billion in a Michigan truck factory and paying worker bonuses in the wake of a U.S. tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington.

    The Italian-American automaker will share the spoils of a lower corporate tax rate by sending $2,000 checks to about 60,000 U.S. workers. Fiat Chrysler also will spend more than $1 billion and add 2,500 jobs at a factory near Detroit to produce heavy-duty Ram pickups that the company been making in Mexico.
    While JohnsonControls is moving production to Mexico.
    The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent anybody else.

  16. #16

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    Quote Originally Posted by onthebottom View Post
    It was an appeasement to the labor unions, those companies would have simply restructured (see the Fiat / Chrysler of today) and shedded they crippling pension obligations. Reasonable people can disagree on it being the right move, unlike the banks the US government lost money on the auto bailouts.

    The Cash for Clunkers was a an attempt to subsidize the purchase of cars, google it. Left wing economic instincts at their worst.
    Of coarse,... the so called bail out,... was actually the government bailing out the 10 retires to one working employee,... unsustainable pensions plan for all three.

    Either the pension plans were reworked,... or all three would just accept bankruptcy,... which was the only solution at the time.

    But who ever said that economics,... let alone simple math,... was the looney left's strong suit.

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    Quote Originally Posted by Polaris View Post
    That is total falsehood.

    The government could have easily said no, and let them fail like a Lehman Brother.

    Of course, what happens in that case is all the auto workers are laid off permanently, and they will lose of all their company pension, because ...

    No job, no pension.
    Why should they let them fall like Lehman Brother?
    In conjunction with the Canadian Federal and Ontario Provincial Government, they were successful in keeping the big three in business.
    Facts.

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    Quote Originally Posted by onthebottom View Post
    It was an appeasement to the labor unions, those companies would have simply restructured (see the Fiat / Chrysler of today) and shedded they crippling pension obligations. Reasonable people can disagree on it being the right move, unlike the banks the US government lost money on the auto bailouts.

    The Cash for Clunkers was a an attempt to subsidize the purchase of cars, google it. Left wing economic instincts at their worst.
    What do you think the present tax cuts are? This is the Government giving up billions of dollar. At least with the bailout the Government managed to get some shares from the companies and in the bargain kept them afloat.
    Worse then the cash for clunkers was the scrapping of the EV1 electric cars that could only be leased out, and getting rid of the technology in the late 1990's. What a total waste of money and no doubt the Oil Corporations may have pressured GM to do so. What a waste it was to recall the cars and then scrap them. Then they had to start from square one with research into the electric cars, as everything to do with the EV1 was scrapped including all the research paperwork. Very strange.

  19. #19
    Quote Originally Posted by jcpro View Post
    It a terrible development! The corporate elites will get all the money and the very few workers(compared to the population of our planet, indeed, the universe itself) will get but scraps.
    Nice cherry picking! I guess you'll just ignore the thousands who were just laid off by Walmart ( which more than cancels out any benefit from the European Fiat Company)

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