Fiat Chrysler Announces Plans to Invest $1 Billion in the U.S. - Polidicks

[quote]Fiat Chrysler Automobiles NV will invest $1 billion toward making three new Jeep models in the U.S., plus a Ram heavy-duty pickup now built in Mexico, as President-elect Donald Trump pressures the auto industry to hire workers and produce vehicles above the border. The outlays planned by 2020 include retooling factories in Michigan and Ohio and adding 2,000 jobs, according to a company statement. The Italian-American automaker confirmed the Jeep brand will add the Wagoneer and Grand Wagoneer sport utility vehicles and a pickup model to its lineup. After improvements to a plant in Warren, Michigan, the site will be able to assemble Ram HD trucks now made in Saltillo, Mexico. Fiat Chrysler is circulating the plans before any potential criticism of the company by Trump, who last week threatened General Motors Co. with taxes for importing a version of its Chevrolet Cruze from Mexico. Ford Motor Co. has canceled a $1.6 billion factory in the country and will invest $700 million into a Michigan plant. “The expansion of our Jeep lineup has been and continues to be the key pillar of our strategy,” Chief Executive Officer Sergio Marchionne said in the statement. He also highlighted plans to export the SUVs and trucks. “We will finally have the capacity to successfully penetrate markets other than the U.S. which have historically been denied product due to capacity constraints.” The added Jeep models have long been planned and analysts have been awaiting word on where they would be built, Michelle Krebs, senior analyst at Autotrader.com, said in an e-mail. “Investment in Jeep is smart money spent, and timing to ward off President-elect Trump’s possible tweets at the pass doesn’t hurt,” she wrote. Among major automakers, Fiat Chrysler sells the highest percentage of light trucks, which tend to be more profitable than cars. For this reason, it’s also been seen as the most likely to benefit from the Trump administration and Republican-controlled Congress reducing regulatory demands for improved fuel economy, spurring a surge in the stock price. “The sooner those new models will roll out of the factories, the better it is to support Fiat’s mix and therefore margins,” said Massimo Vecchio, an analyst at Mediobanca in Milan. “All major corporations are moving along the line of what Trump asked. They could get in exchange very likely a massive cut in the corporate tax rate, which is possible only if the U.S. increases” its gross domestic product, the broadest measure of economic activity, Vecchio said.[/quote] [url]https://www.bloomberg.com/news/articles/2017-01-08/fiat-chrysler-commits-1-billion-to-u-s-plants-for-jeeps-rams[/url]

[QUOTE]Fiat Chrysler is circulating the plans before any potential criticism of the company by Trump[/QUOTE] Under budget and ahead of schedule.

[quote]The Italian-American automaker confirmed the Jeep brand will add the Wagoneer and Grand Wagoneer sport utility vehicles and a pickup model to its lineup.[/quote] Jesus fucking christ, they didn't need to revive it. Let it die a peaceful reliable death, new Jeeps are shit.

I have to say, the Trump presidency seems to be doing a few miracles already-- and the guy isn't even in office yet.

Trump's not even president and hes already bringing jobs back into the US. Jesus Christ, calm down Trump, I can't handle all this winning.

I have to say I appreciate the work that President Obama is doing and will continue to do from now until the 20th of January

[QUOTE=Komodoh;51643980]Trump's not even president and hes already bringing jobs back into the US. Jesus Christ, calm down Trump, I can't handle all this winning.[/QUOTE] :v: I like how a couple thousand jobs (at best) means we're winning despite the US adding 156k jobs in the last quarter alone. But hey, I guess some news about drops in a bucket is good enough to make you think that we're "winning."

[QUOTE=Monkah;51643967]I have to say, the Trump presidency seems to be doing a few miracles already-- and the guy isn't even in office yet.[/QUOTE] Oh yes 2k jobs from a twice bankrupted company in an industry heading sharply towards complete automation. He's a miracle worker! Hallelujah! I like how hard Tudd is working to show us that Trump being elected wasn't a bad idea.

[QUOTE=thelurker1234;51644273]:v: I like how a couple thousand jobs (at best) means we're winning despite the US adding 156k jobs in the last quarter alone. But hey, I guess some news about drops in a bucket is good enough to make you think that we're "winning."[/QUOTE] Not much of a big picture guy, are ya? for one, he's not even president yet and is already starting to bring back manufacturing. Manufacturing jobs affects all kinds of other industries. Transportation, commercial, construction, which boosts even MORE industries. It's not just "oh cool, 1000 more jobs, whoopie."

Actually if you look at the bigger picture, Trump's plan [URL="http://www.forbes.com/sites/nathanvardi/2016/12/05/trump-economic-plan-would-send-u-s-economy-to-most-severe-recession-since-early-1980s/#116c50ef8293"]is going to be detrimental to the economy[/URL] [URL="http://www.marketwatch.com/story/suggesting-trumps-economic-plans-can-spark-growth-closer-to-3-is-wishful-thinking-obama-adviser-says-2017-01-07"]according[/URL] [URL="http://www.forbes.com/sites/timworstall/2017/01/08/economists-on-trumps-100-day-action-plan-not-even-funny-any-more/#643f3f676ded"]to[/URL] [URL="https://www.bloomberg.com/news/articles/2017-01-06/trumponomics-gets-thumbs-down-from-nobel-prize-winner-economists"]experts[/URL] and economists. That, and the crucial part is , [I][B]he isn't in office yet[/B][/I] and Fiat Chrysler's decision is more than likely influenced by Obama's policies rather than Trump's. Two previous cases where Trump claimed he got the jobs back for America both turned out to be bullshit and were more influenced by Obama. I wouldn't be surprised if that was the case here.

[QUOTE=Komodoh;51644290]Not much of a big picture guy, are ya? for one, he's not even president yet and is already starting to bring back manufacturing. Manufacturing jobs affects all kinds of other industries. Transportation, commercial, construction, which boosts even MORE industries. It's not just "oh cool, 1000 more jobs, whoopie."[/QUOTE] Which is true. But "bringing back manufacturing" with this is hella hyperbolic given the millions of jobs that left. And, these are not jobs that will be employing the common man like they used to since these factories will be heavily automated employing a fraction of what they used to. Like it or not we're a service economy now. Fun little fact actually, when it comes to what we actually manufacture, we manufacture more than we ever have before. But as stated before, due to automation, the average worker is not feeling it because they are unemployable and need to look towards other industries. [URL]https://fred.stlouisfed.org/series/OUTMS[/URL] [URL]https://fred.stlouisfed.org/series/MANEMP[/URL] (hey what's that job growth at the end years there by the way? Oh, thanks obama /s) Nothing wrong with that, by the way. Just need a little kaldor-hicks compensation to help the people who lost out get back on their feet and find new employment, there was this guy who lost the democratic nomination who actually would have done that (minus his shitty protectionist ideas along with that) and to a lesser extent Clinton.

[QUOTE=Komodoh;51644290]Not much of a big picture guy, are ya? for one, he's not even president yet and is already starting to bring back manufacturing. Manufacturing jobs affects all kinds of other industries. Transportation, commercial, construction, which boosts even MORE industries. It's not just "oh cool, 1000 more jobs, whoopie."[/QUOTE] That big picture of his will ruin the country and lose any gains it might make, which every economist and finance mogul has been repeating over and over again, but you people were focused only on "he'll bring back those (outdated) jobs" so you voted for him. Whether you like it or not, line jobs are fast being made room for by automation, and that's the future of strong industry, not outdated line jobs which have less and less place thanks to progress. If you want anything to change from that, you'll do something like introduce means to find alternate employment and allocate hardship funds for those people. Clinton and Sanders would have done something along those lines, but since everybody who voted for Trump preferred a Great Wall of America and thought that she'd trigger WWIII by insulting Russia (lmao) we'll never know :downs:

[QUOTE=Monkah;51643967]I have to say, the Trump presidency seems to be doing a few miracles already-- and the guy isn't even in office yet.[/QUOTE] It's probably because of the ridiculous tax breaks corporations are going to get, America is likely going to be a beautiful place for corporations, but terrible for the average joe.

[QUOTE=ZombieDawgs;51644323]It's probably because of the ridiculous tax breaks corporations are going to get, America is likely going to be a beautiful place for corporations, but terrible for the average joe.[/QUOTE]An America that's an awful place for corporations is far worse than any other combination of the two.

[QUOTE=ZombieDawgs;51644323]It's probably because of the ridiculous tax breaks corporations are going to get, America is likely going to be a beautiful place for corporations, but terrible for the average joe.[/QUOTE] I legit would like to see how vast tax breaks for big business, less money in the treasury, spending huge sums on white elephants, scrapping net neutrality, and protectionist policies for outdated jobs and industry are going to do anything besides ruin everything for everybody.

[QUOTE=Monkah;51643967]I have to say, the Trump presidency seems to be doing a few miracles already-- and the guy isn't even in office yet.[/QUOTE] This is more than likely the same case as the Ford news, i.e. Has nothing to do with Trump, but he's taking credit for it anyways.

[QUOTE=Monkah;51644325]An America that's an awful place for corporations is far worse than any other combination of the two.[/QUOTE] if a company isnt incorporated in delaware already then they aren't doing it right. nobody pays the 35% corporate tax ever and contiunually saying they do only encourages people to be ignorant of the extent companies go to to dodge taxes

[QUOTE=Komodoh;51644290]Not much of a big picture guy, are ya? for one, he's not even president yet and is already starting to bring back manufacturing. Manufacturing jobs affects all kinds of other industries. Transportation, commercial, construction, which boosts even MORE industries. It's not just "oh cool, 1000 more jobs, whoopie."[/QUOTE] except all of trump's pre-presidential bullshit is quite literally bullshit. Trump: I saved 1,000 jobs! Reality: [URL="http://www.cbc.ca/news/world/donald-trump-carrier-workers-indiana-1.3875277"]Trump saved 600 jobs, offered a bandaid solution to it's problems.[/URL] while giving the company [URL="http://www.cbc.ca/news/world/carrier-trump-deal-tax-incentives-1.3879089"]$7 Million in incentives as well as a headache for economists.[/URL] Trump: I created 5,000 jobs! Reality: [URL="https://ca.news.yahoo.com/5-000-jobs-announced-trump-085430663.html"]Those jobs were already part of the 50,000 promised earlier.[/URL] Trump: OH THEY WERE? WELL I CREATED THOSE 50,000 JOBS! AND MADE THE COMPANY INVEST A SHITTON OF MONEY! Reality: [URL="https://www.washingtonpost.com/news/wonk/wp/2016/12/07/a-japanese-billionaire-just-showed-companies-everywhere-how-they-might-profit-off-trump/?utm_term=.3ef006dfce8a"]Those jobs were already part of ANOTHER DEAL that trump had nothing to do with.[/URL]

[QUOTE=Komodoh;51643980]Trump's not even president and hes already bringing jobs back into the US. Jesus Christ, calm down Trump, I can't handle all this winning.[/QUOTE] Just so everyone is aware of how a re-tooling works at a US based car manufacturing plant, it can take up to six months or more depending on what needs to be done. The workers that work on site only get ~90% of their pay and are forced to claim unemployment during the down time.

Thanks Obama!

Please, just unplug jeep. Let it die in peace.

[QUOTE=Steel & Iron;51644806]Just so everyone is aware of how a re-tooling works at a US based car manufacturing plant, it can take up to six months or more depending on what needs to be done. The workers that work on site only get ~90% of their pay and are forced to claim unemployment during the down time.[/QUOTE] I remember when the 2015 F-150's didn't show up at my local dealers until well into 2016 because the closest factory was retooling for the longest time. There may be a few hundred or even a thousand jobs made temporarily by laborers to expand these factories but the people who work on these lines will be laid off for a while and I understand how that feels.

just as an asside, for 1B$ they arent creating very many jobs. for the same amount of money, space-x has created probably 10,000 jobs This is the new norm though, throwing a parade everytime a few hundred jobs are made and outright ignoring when larger more comprehensive jobs reports come out

[QUOTE=Sableye;51645818]just as an asside, for 1B$ they arent creating very many jobs. for the same amount of money, space-x has created probably 10,000 jobs This is the new norm though, throwing a parade everytime a few hundred jobs are made and outright ignoring when larger more comprehensive jobs reports come out[/QUOTE] I'm speaking out of ignorance right now but from what I know space-x is in a completely different industry, they need engineers to innovate new designs and improve technology, they need people to maintain facilities, more skilled labor duties that the auto industry doesn't have. Whereas the auto manufacturing is typically automated which at most people to maintain automated machines, managers to watch over factories and thats it. Even transporting fresh off the line cars will be automated soon.

[QUOTE=GhillieBacca;51643802]Jesus fucking christ, they didn't need to revive it. Let it die a peaceful reliable death, new Jeeps are shit.[/QUOTE] What's wrong with the Cherokee? The XJ is probably the best looking SUV I've seen.

[QUOTE=Mr. Someguy;51646095]What's wrong with the Cherokee? The XJ is probably the best looking SUV I've seen.[/QUOTE] Keyword: [b]New[/b] Post-Fiat Jeep is absolutely terrible. [img]http://www.2017jeeplineup.com/wp-content/uploads/2016/04/2017-Jeep-Cherokee-Redesign.jpg[/img]

[QUOTE=Sableye;51645818]just as an asside, for 1B$ they arent creating very many jobs. for the same amount of money, space-x has created probably 10,000 jobs This is the new norm though, throwing a parade everytime a few hundred jobs are made and outright ignoring when larger more comprehensive jobs reports come out[/QUOTE] It's not really all that incredible Space-X can create more jobs with the money mind. They are a research company after all, any investments directly into the company will be largely to hire new research staff, engineers, etc. A company like Fiat Chrysler will be bringing in more robots to manufacture and expand infrastructure rather than new hires because making things is all they do. There's very little to celebrate here considering the size of the investment. You can't "fix" unemployment with chip damage shit like 500 jobs here, 603 jobs there. It's infeasible as jobs will be vanishing elsewhere at the same time. It'd take drastic measures to eradicate unemployment such as sweeping public works schemes. So I have no idea why Trump supporters are touting every tiny pixel of damage to the unemployment life bar as a victory. That fuckers got regenerating health. It'll be nice for those who take up the jobs. But it's not really a solution to the "problem" that is going to rapidly grow as automation runs its course. There's literally no stopping it, progress is pretty hard to stop.

[QUOTE=hexpunK;51646201]It's not really all that incredible Space-X can create more jobs with the money mind. They are a research company after all, any investments directly into the company will be largely to hire new research staff, engineers, etc. A company like Fiat Chrysler will be bringing in more robots to manufacture and expand infrastructure rather than new hires because making things is all they do. There's very little to celebrate here considering the size of the investment. You can't "fix" unemployment with chip damage shit like 500 jobs here, 603 jobs there. It's infeasible as jobs will be vanishing elsewhere at the same time. It'd take drastic measures to eradicate unemployment such as sweeping public works schemes. So I have no idea why Trump supporters are touting every tiny pixel of damage to the unemployment life bar as a victory. That fuckers got regenerating health. It'll be nice for those who take up the jobs. But it's not really a solution to the "problem" that is going to rapidly grow as automation runs its course. There's literally no stopping it, progress is pretty hard to stop.[/QUOTE] thats kind of what i was getting at, trumpanomics will be focused primarily on small very publicized victories but things like space-x are born out of long term policies that spawned an entire new industry. without the commercial crew program or the launch contracts or the legal framework laid out by obama and partly bush, american rocket research and production was stalled. Now we have more rocket scientists than ever before because of smart policies that while not generating headlines such as "massive investment here!" make way more jobs than trump's policies will do

Let jeep die and please bring back plymouth, at least for the road runner. My dad used to have a black '75 roadrunner, thing looked neat.

[QUOTE=Mr. Someguy;51646095]What's wrong with the Cherokee? The XJ is probably the best looking SUV I've seen.[/QUOTE] asside from being rediculously dangerous to park on slight inclines?