GM is the 2nd highest 2021-2022 election cycle financial contributor of all automotive sector businesses or organizations (National Auto Dealers Association is #1) GM is #1 though by 2x in direct lobbying spend.
With cash donations of this magnitude, government motors has a safety net against the need for layoffs paid for and guaranteed, no?
Source Data: Federal Election Commission (Published Oct 23)
Visual-Friendly Table: https://www.opensecrets.org/industries/indus.php?ind=m02
With high interest rate loans.
Hard economic times do not favor manufacturers of durable goods. The hardships are magnified if your business model relies on selling expensive trucks and SUVs on long term loans to people who generally don’t need them.
I agree in most part. And, as such, if I prepare for such anticipation- I'll be ahead of the game if all doesn't actually play out.
Not everyone knows how to stitch together all the elements that define "their unique" economic/budgetary situation.
Basically, the FED has raised interest rates to the point most cannot afford to buy a home, business must comprehend higher interest rates for their borrowed money to operate the business, and let's not forget- inflation, gas prices, groceries, you name it- about 15% higher than last year.
If I were in the working world, I would suggest ALWAYS be prepared for an unanticipated layoff. If it doesn't happen, you're ahead of the game.
@3ejr+1jxKlXcY
Every person who checks this site regularly is living in a state of fear.
Right now, for every 2.4 cars sold, 1 existing vehicle on the road will be repossessed.
*Ford F-150 – is the most repossessed truck
*Chevy Silverado – is 2nd the most repossessed truck
People are broke. Maxed out credit cards. Home bankruptcies are car repossessions skyrocketing. Food and fuel inflation is 30-50%.
Everyone reading this right now who is older than 20 knows exactly what is coming.
Mass layoffs. It's happening in the tech sector now. It will take 18 months (based on data from the past two bear markets) after the Fed pivots with interest rates (Q1 2023?) for the market to bottom out. so we are looking at 2025.
This is going to be a long, painfully drawn out process. There are some hoping "this time is different." But hope isn't a plan and the pain hasn't even started yet.
GM was bailed out but tens of thousands of direct and contract workers lost their jobs anyway.
If you aren't doing everything you can to prepare by paying down debt, diversifying skills, getting your house in order - you will have no one to blame but yourself when you find yourself losing everything.
"Proof of Layoff Immunity" is about the most patently absurd thing I've seen on this site to date. Wishful thinking doesn't even begin to cover it. I suspect the author is knee-deep in debt and will lose everything soon. In the 2008 downturn, how many people did you know lost their home? How many ended up divorced, working long distances? I know this post will get down-voted because ignorant people can't stand the truth. But it's those people that are going to be face down due to the circumstances we are facing.
Keep dreaming! Why are you on a layoff site if your intuition is not telling you a tsunami is coming!
After the bailout, GM walked a lot of white males out the door.
If a corporation gives big money to Democrats, they no longer need business loans, paying customers, microchips, etc. Got it. Makes perfect sense.
Someone needs to tell this to all of the failing businesses out there. Bed Bath & Beyond can be saved!
According to that data it might only work when democrats own the executive branch since the donations to democrat officials from GM outpace those to republicans by 24.81%
Here's a fact check to check your logic: When GM received a bailout from the government in 2008, did it avoid layoffs?