The Deindustrialization of America
The previous deputy director for intelligence at the Central Intelligence Agency is elected to GM’s Board of Directors and two months later GM announces it is going to start shutting down assembly plants in the US and Canada. There are mixed messages being sent here by GM. On the one hand, General Motors has attempt to rejuvenate its car sales once again and was made all the more difficult because of a slowdown in the world’s largest vehicle market: China. While at the same time GM has announced its plan to close down 7 assembly plants in the US and Canada.
Remember too there was a federal bailout of GM of $13.4 billion with the loss eaten by taxpayers that GM received during the depths of the financial crisis in 2008. On December 19, 2008, President Bush agreed to a $24.9 billion bailout using the TARP (Troubled Asset Relief Program) program created by the US Treasury: $13.4 billion for GM, $5.5 billion for Chrysler, and $5 billion for GMAC. All together it was a $80.7 billion bailout for the auto industry.
Source: GM Corporate News
Jami Miscik Appointed to GM Board of Directors
DETROIT — General Motors Co. announced the election of Jami Miscik to its Board of Directors. An expert in global security and intelligence, Miscik currently serves as the chief executive officer and vice chair of Kissinger Associates.
“Jami is a seasoned leader with experience in assessing the geopolitical and macroeconomic climate,” said GM Chairman and CEO Mary Barra. “Her unique and extensive background in intelligence, security and risk analysis and mitigation will add significant insights to GM’s board and the company’s overall strategy.”
Miscik, 60, was appointed chief executive officer and vice chair of Kissinger Associates in July 2017, after serving as co-CEO and vice chair since 2015 and president and vice chair since 2009. Prior to joining Kissinger Associates, Miscik served as the deputy director of intelligence at the Central Intelligence Agency. She also previously held roles at Barclays Capital and Lehman Brothers.
Miscik holds a master’s degree in international studies from the University of Denver and a bachelor’s degree in economics and political science from Pepperdine University. She serves on the board of directors at Morgan Stanley and as the co-vice chair of the Council on Foreign Relations. Miscik also previously served on the President’s Intelligence Advisory Board.
The election of Miscik to the board brings GM’s Board of Directors to 12 members, 11 of whom are non-employee directors.
General Motors (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Cadillac, Chevrolet, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle ride-sharing company, can be found at http://www.gm.com.
Intelligence | Model Diplomacy
Source: Detroit Free News
GM’s secret plan to shut plants, cut jobs likely signals more to come
by Jamie L. LaReau • Detroit Free Press • November 28, 2018
Dnitra Landon, a GM Detroit-Hamtramck Assembly worker, talks before the start of her shift about her feeling on the closing of this plant. Eric Seals/Detroit Free Press
Turns out no one keeps a secret as well as General Motors’ leadership.
On Nov. 20, the automaker’s board of directors approved a massive cost-cutting plan that included shuttering two assembly plants in the United States, one in Canada and two U.S. propulsion plants by the end of next year. Combined with white-collar cuts, about 14,000 hourly and salaried jobs are affected.
GM waited until Nov. 26 to tell the world its plan, though the news that GM would close its plant in Oshawa, Ontario, leaked out late Sunday, Nov. 25.
Some workers expressed anger at learning about their plants closures from news reports or texts, though GM told the Free Press Wednesday that it gave the UAW a heads up Monday morning before its 10:30 a.m. public announcement.
“How they kept this a secret is shocking to say the least,” said Ivan Drury, senior manager of industry analysis at Edmunds.
Given that the automaker said it will continue to hire people for jobs related to the development of electric vehicle and autonomous vehicle technology even as it cuts other jobs, Drury warned, “There’s definitely more to come, but it depends on where GM places its bets for the future.”
Expect more job cuts and other operational shifts next year, he said. “All those are possible until the full plan is laid out,” said Drury.
Adding to the unknown is GM’s new chief financial officer, Dhivya Suryadevara, who took the role Sept. 1. Analysts said she likely played a big role as an architect to this plan.
Please go to to Detroit Free News read the entire article.
Dhivya Suryadevara is the first female Chief Financial Officer of General Motors (GM). Dhivya Suryadevara was named by Fortune Magazine among the “40 of the most influential and inspiring young people”. Suryadevara is what Professor Darrell Hamamoto, professor of Asian American Studies at the University of California, Davis, who is best known for his views on Asian American media, calls “servitors of empire.” Many of these Asian American elite like Dhivya Suryadevar who is now GM’s CFO, have attained top positions in business, government, academia, sciences, and the arts. What exactly is the role Asian Americans will play in the coming years as China and India have an increasingly massive impact on the world economic system with rapidly growing consumer populations?
Not since the large-scale embedding of scientists and engineers who left Nazi Germany under Operation Paperclip has there been such a mass importation of intellectual labor from U.S. client states in Asia. One of the specialized tasks assigned to this group as Professor Hamamoto pointed out, “is to build the technetronic infrastructure for the new world order command and control system”. Darrell Hamamoto’s book Servitors of Empire, is not intended to “fan the flames of suspicion and paranoia aimed at Asian Americans”, but serves to bring to light “the way in which highly trained knowledge workers are being employed to bring sovereign nations such as the United States under centralized rule made possible through advances in bioscience, IT, engineering, and global finance”.
GM Globalists Declare War on Trump’s Base
Auto execs react to Trump’s GM attack
Source: Bloomberg Opinion
GM Needs China More Than It Fears Trump
While Mary Barra closes North American plants, don’t be surprised to see her doubling down on the automaker’s biggest market.
By Anjani Trivedi • November 28, 2018
The Cadillac XT4: It’s big, especially in China. Photographer: Michael Noble Jr./Bloomberg
Sorry, Donald Trump: General Motors Co. isn’t leaving China anytime soon. It can’t and it won’t.
After the automaker announced plant closings across North America as part of a wide-ranging restructuring plan, the president lashed out on Twitter, threatening to strip GM of any U.S. government subsidies. He also pointed out that nothing was “being closed in Mexico & China” and that GM’s bet on China wouldn’t pay off. There may be some truth in that last point.
Why, on the face of it, would GM walk away from the world’s largest car market? Despite falling volumes, the company still expects to book $2 billion of equity income in China this year. While its market share has plummeted, margins still remain close to 9 to 10 percent there, higher than 6 percent to 7 percent for the company as a whole.
GM has committed to going big in China: It launched the Cadillac XT4 luxury SUV earlier this year and had planned to roll out as many as 10 models by Dec. 31. The company sells more cars wholesale in that market than at home – 835,934 of them, including joint ventures, in the third quarter, against 700,000 in the U.S.
Please go to Bloomberg Opinion to read the entire article.