AUTO INDUSTRY/JOBS/TRUMP AS PRESIDENT: “General Motors Co said on Monday [11-26-18] it will cut production of slow-selling models and slash its North American workforce because of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. GM’s actions add up to the biggest restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago, and mark a turning point for the North American auto industry. U.S. automakers have enjoyed nearly a decade of prosperity since the 2008-2009 financial crisis and the government bailouts of GM and the former Chrysler Corp. GM’s announcement immediately drew criticism from U.S. President Donald Trump, highlighting the political risks facing GM. He demanded the automaker find a new vehicle to build in Ohio and added that he had told GM Chief Executive Mary Barra he was unhappy with her decision to cut production at an Ohio factory. Ohio will be a key state in the 2020 presidential campaign.”
–Joseph White, Nick Carey, “GM to slash jobs and production, drawing Trump’s ire,” Reuters, November 26, 2018 5:29 am