David Wells, Michigan, Ivanka Trump discussed on Balance of Power
To give us a preview. Welcome. Now are Detroit Bureau chief. He is David Wells. So David there during war Michigan, not necessarily a standard stop for a vodka truck. Were they looking at? We're looking at a training center that GM built there about $2 million for about $2 million trains, full skilled trades workers and some celery engineers, so really people on the technical side of things And this's important really, for both sides. The Trump administration came to power in 2016 and one of their Key areas of focus on one of Trump's promises was to rebuild manufacturing any specific guy on the auto industry, so MGM did him big restructuring last year. In the end, taking out about 11,000 jobs closing what for US plants in one in Canada, Um, trampoline in like that. So G M's been kind of in their doghouse ever since. So this is an opportunity for Mary. But, hey, look, training workers, and we're putting money into Michigan and into the United States, And there's a chance for the Trump administration. Teo say that they're getting something done in the auto. It's fast thing, David. There's been something if you say as a love hate relationship between Donald Trump and Mary borrowed up and down and back and forth at the same time, it's not clear to me that Mary Barra has changed her direction much no matter what the president has said. No. Look, Uh, Lordstown is still closed. And so it was a small transmission plant in Warren, Michigan, where Ivanka Trump is today and another plan in Baltimore. They have, uh, technical jobs in war and for things like battery electric vehicles and self driving. Vehicles. But in terms of manufacturing not so much building a battery plant in conjunction with the battery partner for the electric vehicles in Lordstown, But those jobs will pay a lot West. So the didn't and so far on an union plan must taken organized. So it's not a big victory for the union. It's not a big victory in charge of, uh, manufacturing wages necessarily because it's basically it's supplementing lower wage towards town jobs are higher wage with lower wage jobs. But is longer there. Training workers may be the Trump Administration is going to try to make a bit of hay out of this G m A. What? Not hired more. And David finally here quickly at the end, Going cross the road to Ford. We have a new CEO coming in, and we had enough sort of 1400 white collar workers being laid off. Is that a surprise to you? No. We've been waiting for this protection People $11 billion cost cutting program if they've had for some time, this is 5% of the salaried workforce. It follows what GM did about. Action. Jean cut what I think 8070 workers get powers, which he ended last year. But you're going to see more of this. Not just because of Kobe's gonna push things along because the industry's kind of in a slump, too. Okay. David really appreciate your being with us. That's David. Well, she's blue. Bloomberg's Detroit bureau chief Coming up bounce power continues on Bloomberg Radio and our second hour we're going.