5 Burst results for "General Motors Institute"
Bloomberg Radio New York
"general motors institute" Discussed on Bloomberg Radio New York
"Noise is exceptionally high right now. And it's really disturbing for a lot of investors. This type of volatility is something that we think you'll see still for the next couple of quarters. I think there's more work to do here before the fed really believes that short rates are offering a positive real yield. I think the thing people really need to focus on the most is how long does the fed keep that funds rate really high. I think the time has come for them to take a slower pace of rate hikes and wait and see what kind of shape the economy is in. This is Bloomberg surveillance with Tom Keene, Jonathan farrow, and Lisa Abraham always. Good morning, everyone. This is Bloomberg surveillance. Jonathan farrow, Lisa oberon once and Tom Kean, we welcome all of you on Bloomberg radio and Bloomberg television, the common theme of the earnings season from industrial America this morning, John, right over to where we are with tech this afternoon is dollar ramifications. Alphabet and Microsoft coming up a little bit later in FX is the brand new excuse available to see. It is worldwide and 3M is taking that opportunity to blame FX Tom. It's a real deal. The dollar is a whole lot stronger. And if you're an international company this year, Tom, it makes a difference if you base here in the United States. It's Lizzie and Saunders with a great chart from Schwab's showing that domestic company outperformance versus multinational and international as well. The conversation Jordan Rochester and George cerebellum that we had earlier, it's just simply not about yen. It's about a holistic thing, the developing economies, the EM economies, and there's real dynamics out there. The rest of the world wants this fed to slow down. The step down. No question a step. The blink now. No more is not looking for that. They reckon 75 for the next meeting, and then another 75%. Do we all agree that you said that we all agree 75, I get it. ECB and that. To me, it's the then what? Well, and then at what point, if they do pause, right, let's say they do a step down, and they get to four and a half percent. Hold on a second. Then what happens then? I didn't say anything. But if they don't say anything, if they don't do anything further, is the further path going to be another rate hike as we heard from Robert tip because of the inflationary pressure. Any call on the fed is at the mercy of the CPI data and we get another CPI print, time and a couple of weeks time. In nature the nation is a huge variance as well and as jumbo vents at earlier and John to stagger to the data here with inflation tied to the yield right now ten year yield 4.16%, the real yield comes back from that one 82 down to one 58. Everything linked together off that key inflation report. And not just in Europe and the United States as well. Some of the time for this market worldwide this year and maybe beyond it to 2023. Let's whip through the price section for you just briefly on the S&P 500 slightly negative through much of this morning. No drama though. We've done about 13 on the S&P with softer by a third of 1%. Yields on a ten year lower negative down 8 basis points on a ten year to four 16 and in the FX market TK. Softer Euro here, just a little bit weaker, 98 63 on Euro dollar. If you were a student of the Midwest and you had parents that were industrial on your college list was the West Point of manufacturing and engineering. It was called General Motors institute now Kettering and never did they know that one of their students would come out to provide leadership for General Motors. She is Mary Barra and Matt Miller brings us to her today. The engineer from the General Motors institute. I'm looking forward to it. Mary, thanks so much for joining us really appreciate it on such a busy day for you. Let me pick up where these guys left off and ask you about the stronger dollar, obviously the lion share of your revenue comes here in the U.S., but you still buy purchase a lot of parts in your supply chain from outside of the country is the stronger dollar, a tailwind for you. Well, I think there's a lot of pressures right now when you look at commodity costs, transportation. It's just one of the elements in that we're facing is not a significant for as it is for other companies just based on our strong position in North America. But we continue to monitor and be impacted by each of these factors. Rates obviously a huge factor as well. We've seen it impacting other lenders. And I'm wondering how it's impacting GM financial. Well, we are seeing GM financial get back to, I would say, historically strong performance. I think we had especially strong performance last year in the year prior due to the strength of use cares pricing that's coming down with interest rates. We are seeing a little softening on leasing. But overall, GMF is performing very well. You know, the CEOs of JPMorgan and Goldman Sachs both this morning have said they see a recession as likely for the U.S.. I'm wondering your view you have a unique position, what's the economy look like to you? How is it unfolding and car sales specifically? Well, I'm going to let calling a recession to The Economist, not my expertise, but what I'll tell you what we are seeing. And we're seeing still very strong demand for our products. We're seeing strong average transaction pricing that we continue to be able to build on. And so we are starting to see inventory build just a little bit, but well below levels that were in the past. So overall, we're still seeing a very strong consumer for our products. And we're watching carefully all the different signs, but right now it's still very strong. But what about inflation and the pressure on margins? I mean, does the stronger dollar balance that out? Are you seeing a big inflation in rise in the costs that you need to pay out for parts and is that sort of squeezing your margins here? Well, we have, yes, we have seen commodities logistics, we work with our suppliers to make sure that we have a very healthy supplier base. So all of those factors, we tend to work to offset. And we predicted this year and be about a 5000 or excuse me, $5 billion impact. And we are seeing that, but we have worked effectively to find offsets and that's part of our overall equation for this year, which is allowing us to still maintain guidance. One big boost is going to be the inflation reduction act, at least UBS says they see the IRA as very generous. They say it has the potential to make the U.S. a global EV battery hub. How do you see the inflation reduction act for GM? Well, General Motors was already investing in North America or in the United States, for instance, we have a battery plant in Ohio that's ramping right now. We have two others, one in Michigan, one in Tennessee that are also ramping. So we were making the investments because we wanted to make sure we had a resilient supply chain after we've lived through so much disruption over the last few years. So as the IRA came into was passed and we're looking now for treasury to set the rules, we think we're very, very well positioned. And we do believe that the benefits of IRA will drive stronger EV adoption with the American consumer. So we think it's going to do exactly what was intended to do. And we're well positioned to benefit and work with our consumers to make sure they have an EV that's affordable, that they can really enjoy the benefits of an EV. Are you still on track to sell a million EVs in 2025 and beyond? We absolutely are, you know, when you look at the lineup that we have starting with the Hummer to the lyric to now the Chevy Silverado EV, we just last week launched the GMC Sierra EV along with the Chevrolet blazer EV and the equinox EV. I think we're going to be well positioned covering the important segments in the portfolio to reach that million unit level by 2025. You do get a huge boost also from big truck margins. And I imagine that helps you to fund the EV business and get towards that target. If we ever recession and you see sales of those big trucks, those big ICE trucks drop, can you continue to fund the EV boost? We very much believe we have a strong enough balance sheet and the strength of the business. When you look at the truck, we have truck leadership. We've had it since 2020 and we just did a major refresh to our light duty full size trucks. We have strong SUVs as well. And now the heavy duties, we just revealed there'll be next year. So we think our product portfolio is going to position us well in the truck market. I would also say midsize crossovers are very strong as well. And the truck consumer, especially the full size truck consumer. They generally are not, they don't shop as many segments as maybe other customers of other segments do. So we think we're well positioned. And obviously we'll moderate based on what happens from an economy in a consumer buying perspective. You know, earlier this
Bloomberg Radio New York
"general motors institute" Discussed on Bloomberg Radio New York
"Apple I think if you look at the valuation of these companies they're not priced for sainthood They're priced for reasonable cash flow and revenue growth I think you can still own technology even though we've seen some weakness here It's just what valuation are you paying for believable cash flow What do people on the left and the right coast not get about the renaissance of manufacturing and service sector growth in Middle America There's been a manufacturing renaissance in the Midwest for 5 years plus Take my state of mission Where is it right now It's in Detroit I've hardly ever wanted to own an auto stock but I own GM today Why do you own GM right now Is it all the touchy feely EV stuff or is it something different It's party V it's they're better allocators of capital than they used to be They're really paying attention She's getting a cushions and engineers just because she's like the real deal Jenner motors institute That's her That's your heritage Lisa General Motors institute I know someone from Chicago would never know that but Lisa it's the Chicago law of engineering I love how you just troll all of us every day Thank you so much Tom Keenan David we've been talking about the industrial stocks in the United States We talked about small cap We talked about big tech I want to talk about banks and this is something that John's been asking about for a while And I think it's a really important question We see a yield curve steepening today We see the idea that probably the consumer will still continue to spend and yet banks are selling off today anyway More than you're seeing even tech companies at least in pre market trading How optimistic can you be on banks at a time when potentially higher prices will crimp consumer activity I think the consumer balance sheet is in very good shape to borrow another phrase consumer free cash flow is very strong for every dollar in income They've generated They've only taken on 50 cents worth of debt So you can own the banks a regional bank like citizens financial but then pair it up with a discover financial which is more of a retail credit card play that is definitely based on the consumer and pretty good credit trends You and I grew up faking our homework listening to kml X and St. Louis Can the cardinals do it tonight against the Dodgers I'll bet on the Dodgers but my heart always roots first They finish so strong You gotta go to the car Just like what my tigers did to the Dodgers are evil capitalism Let's be honest It's evil capitalism Wool roof for St. Louis John there's a whole social fabric we just covered there that goes back to World War II Sorry it's lost don't be Tom I'm sure there's new castles playing the tots this weekend I was distracted by this and David thank you David salvi there of ankura advisers What we just talked about because we need to look at this I think it's interesting Take a look at natural gas in the UK and what it's just doing at the moment intraday Tom round trip absolute roundtrip This was up almost 40% a little bit earlier and now it's up by about 2% What do I know Absolutely nothing Prime minister Johnson What's your sign that move What is behind that moves home to go from plus 39% to positive two and rolling over like that No idea People's bank of UK Tim what Lisa I don't know try to prop up the market or I don't know suppress it I really want to say this is important John with all the news we've got coming in and the Bloomberg terminal aggregation and headlines a second to none When we don't know what we're talking about we're the first to mention I agree with John we have no clue Just to see that that rollover so aggressively the jet is behind higher prices what they do to grow to see equities alone Tom just remarkable That was the epicenter of the story for people waking up in London early this morning and it's just totally rolling over now It isn't I'm sorry It has a little Bitcoin 51,000 No and I don't know if it was the primary driver behind the equity market either Tom but equity features are still near the lows of my 1.3 on the NASDAQ 82 on Brett I would say it shows how little we know about a lot of these moves because even when the price was going it did Couldn't agree more People were saying we don't understand why the price of gas is rising to this degree And now we don't understand why it's coming back Honestly a lot of uncertainty The Dutch prime minister with the line here's one for your Tom Need to decouple energy prices from the green deal transition I heard that in Japan this morning on carbon neutral world Yeah It's a carbon neutral world how to hydrocarbons adjust Okay from New York City this morning good morning On TV Counter nose Nice Okay Some keen Lisa brevis and Jonathan farrow Molina Bill Dudley There we go Can you say that That's the important one Former New York fed president next this is Bloomberg.
WHAS 840 AM
"general motors institute" Discussed on WHAS 840 AM
"On the air, but Carl Casper should be on his way out of foreigner Friday. What we got here, right? Rev it on the red line. There you go. Same album as as Dirty White Boy makes sense so well. Alright. I think Carl is getting ready to join us here in just a couple of seconds. And the man the legend Louisville royalties, So we'll talk to him. I do wanna remind you have Mitch Malloy coming up at the top of the hour. As we Uh oh. Hear that music go down. In a fake. Oh, let's into that music stars and cars. Carl Casper Custom Ah, no show. Let's bring him in right now. I can't wait. Hey, Carl Kasell. How are you there? I'm here. I'm here in bowling green that the big N h r e hot rod reunion holding nostalgia, car drag racing, uh, car show showing shine. Street rods, customs everything I'm down here, meeting up Thousands of my friends from Louisville throughout Kentucky, Tennessee, Ohio, Indiana. I'm just having a ball here, and it's so good to Back on the air with you and I before we say anything I do want You and Tony to know that I'm one of your biggest fans and, uh oh, The main thing I want to do is personally thank both of you and your team. For lifting all of us up. With some of the fabulous, lighthearted fun and laughter and I just want to say you're the best of the best. God love you, Carl Kas, where you have no idea how much that means coming from you. I want to talk about you, though. Man. Listen. You're a master when it comes to interior exterior and re refurbishing rebuilding automotives. It's just unreal and you brought to us. The Carl Casper Custom Auto Show. Now you know the market of Louisville and people look forward to certain things. This is no B s. I and all of my friends looked forward to the Carl Casper Custom R O show more than we did anything. The Kentucky State Fair Derby Christmas That was it. And you managed to bring in celebrities. You would have a battle of the bands and you have so many great vehicles. How did you even come up with the concept? Carl? Well, our concept started. Basically, when I was in high school, you'd kind of chuckle. But while I was in high school, I was building my first car and I got invited to a show at General Motors Institute. And took my car over and course I walked through and I knew I was going to win best to show and I'm so proud of everything, and I came back that night to get the best to show trophy in my car wasn't even in the show, and I said What happened? They said. Oh, it didn't qualify. So we pushed it out in the parking lot. And, uh, anyway, what it was they voted by sororities? Well, I wasn't in college, I was in high school of sophomore And so I What? I didn't get one vote, and, uh, but anyway, it it showed me what can happen, and it really humbled me in the same thing happened up at Detroit, N H R E brought the big races, the Detroit and the big Custom car showing that and they were giving away a new car, and I walked around the show. New had won best to show and I was going to win that new car and I'm so proud of myself. But anyway, when they did the awards, they announced last place and practical customer and call my name. I mean, I was heartbroken, and I looked at everything and I realized look Carl, you gotta shape up. Yeah. You're proud of it, Like every mother is their Children. Everything but dog on it. Put it together, So I started honing in my upholstery talent. My Painting talent, My design my engine building chassis building. I started holding in all of that, and I had a lot of great people that would help me assist me. Teach me And so basically, I came up through the ranks and then in 1964, I said, if these guys can can do these shows, and and Not really have their heart and what these guys go through, So I started my own little circuit, and it actually ended up doing over 1000 shows before I retired in 2 17. Did over 1000 shows that I either produced co produced her partnered in from Los Angeles to New York. I mean, Philadelphia, Cleveland, Pittsburgh, Cincinnati, Chicago. You name it. Any major market over 200,000. People are team put on a show and we really honed in their skills and, of course, Of all the cities and everywhere we were my favorite of all was Louisville, Kentucky, not wait to get there because and you know, I want Louisville to realize I think the people Don't really realize what they have. They have a paradise in my opinion, and believe me, I'm speaking from experience. I mean Chicago, New York, Philadelphia, this one that one small cities, big cities medium. Louisville is in my mind. The absolute best, and it's because of the people there. I love them all. Yeah, There's a couple little rotten apple seeds here and there, but as a rule, it is a fabulous city and I'm so proud of it. And that's what I spent seven years. Talking Vern Walker with the NH tennis or E nationals to bring them to Louisville because it's so good for the economy. And so many other shows that when I'd be around the country, I'd tell them all look Get Chicago. Forget New York Ed for Louisville. So I've always been a big promoter of the city promoter of the people, and I love them all. I mean, it's been terrific, and I've enjoyed the journey. The ride. And I just can't say enough. My. My biggest thing is I am retired of someone asked me. When are you gonna do the next show or bring it back? And of course, my answer was never but you never say never, but I do have my team. Uh, several of them Ron Rollins in that group. They are getting pressured so much from people that I believe in 2022 or 2023.
Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women
"general motors institute" Discussed on Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women
"Not staying in only staying in this industry because as you know there's a we do have a retention problem in automotive industry with women so making sure that are still woman stay on but also really exceed and get up to those cease levels because there is a huge disparity the further you go in the food chain in ninety. So don't get me started on that one. We're hoping to close that gap. That's that's the purpose. Well i don applause coming your way because anything that helps do that is is tremendously valuable. So speaking of which a couple of quick career questions. Before i let you get back to your vehicles. What inspired you to study engineering in the first place. And how did you get into hydrogen fuel cells particular. Oh what inspired me to go into engineering. It's it's a funny thing. Because i actually didn't know engineering existed. What it was and it. It's it's like the typical story of you know you can't. You can't be what you can't see. I really had no idea. Wouldn't engineer was or even what the title meant. And then as i fell in love with automotive industry for really no reason at all my family has no idea where it came from. There's no mechanics in my family. But my my mother knew that i was. I was really gung ho about it. And she introduced me to a general motors engineer and he told me what he did. And i thought that it's not the coolest job in the world. Told me about general motors institute which is now kettering university in michigan. And that's where. I ended up getting undergrad. Now has it was one of those days where you need fluid at michigan and i think it was eddie larry or something which is terrible idea. It was an old detroit airport so that doesn't exist anymore the old terminal and there's like ceiling tiles missing like wires hanging out and there's potholes everywhere and we get to the school and it's freezing cold in. It's you know. All these people have cherry pickers with block on him in their dorm room. And i was just so excited to begin on. This is where. I wanna go to school. And we just finished touring like cal. Poly san is the best like this big beautiful beach city schools. And my mom's like really..
Homes and Hops
"general motors institute" Discussed on Homes and Hops
"Monday our And so our family is going through a transition and so he would have been seriously affected his job the s had he been around for that But i i guess the point is Said that's what drew you over to the side. Okay right right no No i was really interested. I was artistically inclined in high school and I to be honest. I wanted to design cars and my grades were not good enough to go to an elite school like general motors institute and and university. Cincinnati had a a program in industrial design which related to that. And it's a very good program. I universities a great university for sure. and it was very intensive my freshman year old foundation classes of really liberating and literally to start a sophomore year. Then we got into the industrial design studio phase. And i think i knew in a couple of weeks now. This hour for me and so coming home was really a matter of economics and much cheaper to live at home and and cute a school than to live on campus or off campus. And you're right and From then it was a matter. Of what do i wanna do and I gravitated taking some of the history courses. Aaron and said this is really interesting and and also In undergraduate levels time really appreciated or locked into how it was taught on that level of of academia and was very fascinating. The lectures Research that we did and and to begin to start thinking critically and that all move me right into being a history major. Did you ever think about going back and teaching like no. I enjoy teaching in terms of of lecturing giving presentations. I finished a master's degree after having been married in having two kids in the house and the mortgage and it took a long time. And ever since i finished the master's degree. I've never had a desire to go any further as far as a phd or teach on the university level I have guest lectured at why issue and I i think that's very interesting. But i just haven't pursued it and maybe something. I can do later as far as an adjunct teacher. Something it just hasn't been in my mind until now. How'd you end up at the mahoning valley historical society. I was a senior. Why issue and My last semester or last quarter there. At that point dr lozano's the executive director of the butler instead of american taught a course through the art department called introduction to museum practices and i actually had a minor in art and art history of all the studio in our history work i brought from cincinnati and So i took that..