Ford cancels Mexico plant. Will create 700 U.S. jobs in ‘vote of confidence’ in Trump

[thackney]

Ford cancels Mexico plant. Will create 700 U.S. jobs in ‘vote of confidence’ in Trump
http://fox2now.com/2017/01/03/ford-cancels-mexico-plant-will-create-700-u-s-jobs-in-vote-of-confidence-in-trump/

Ford is canceling plans to build a new plant in Mexico. It will invest $700 million in Michigan instead, creating 700 new U.S. jobs.

Ford CEO Mark Fields said the investment is a “vote of confidence” in the pro-business environment president-elect Donald Trump is creating. However, he stressed Ford did not do any sort of special deal with Trump.

“We didn’t cut a deal with Trump. We did it for our business,” Fields told CNN’s Poppy Harlow in an exclusive interview Tuesday.

The $700 million investment will go to the Flat Rock, Michigan plant to produce more electric and self-driving cars. Ford believes electric vehicles will outsell gasoline-powered vehicles within the next 15 years.

“I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers,” said Jimmy Settles, United Auto Workers vice president.

Last year, Ford announced it would invest $1.6 billion in Mexico to build the Ford Focus. Instead, the Focus will be built at an existing plant in Mexico, and Ford will expand its plant in Flat Rock....

[mirraflake]

None of the other Republican or democrat candidates would have done this. Go Trump!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[DCPatriot]

None of the other Republican or democrat candidates would have done this. Go Trump!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

....and the hits just keep comin'!!   

[Cripplecreek]

None of the other Republican or democrat candidates would have done this. Go Trump!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So what did Orange Glorious do?

[mirraflake]

So what did Orange Glorious do?

Ford CEO Mark Fields said the investment is a “vote of confidence” in the pro-business environment president-elect Donald Trump is creating

CC, do you really think if Kasich, Rubio or Hillary was in Ford would have reversed their decision?  Nearly every other candidate was pro globalist, open borders.

@Cripplecreek

[TomSea]

Ford Motors cancels $1.6bn Mexico plant

Ford has said it will cancel a $1.6bn (£1.3bn) plant it planned to build in Mexico and instead extend operations at its factory in Michigan.

The US car giant will spend $700m on expanding the plant at Flat Rock.

The President-elect has criticised both Ford and its rival General Motors over production of models in Mexico.

Earlier, he tweeted his disapproval of GM's production of the Chevy Cruze in Mexico.

More: http://www.bbc.com/news/business-38497898

It must have been posted elsewhere already.

[Jazzhead]

Ford CEO Mark Fields said the investment is a “vote of confidence” in the pro-business environment president-elect Donald Trump is creating

CC, do you really think if Kasich, Rubio or Hillary was in Ford would have reversed their decision?  Nearly every other candidate was pro globalist, open borders.

@Cripplecreek

Trump's promise lies in his potential, in concert with a GOP Congress,  to promote growth and a pro-business agenda by means of tax reform and rolling back the regulatory state.   What concerns so many traditional conservatives is whether all that good stuff will be undone by trade wars and irresponsible protectionism that ruins employers who prosper by exporting in a global economy.   

Damn right I would have preferred Kasich or Rubio coupled with a GOP Congress,  or Mike Pence for that matter.   We've got Trump instead,  and I approach his craziness with guarded optimism.   But I haven't a thing invested in him,  and I owe him no loyalty other than that which he may earn going forward based on merit.  It's now his time to grow up and show real leadership.   If he cannot,  then impeach him and let Mike Pence take over.     

[Fishrrman]

http://money.cnn.com/2017/01/03/news/economy/ford-700-jobs-trump/index.html

Ford cancels Mexico plant. Will create 700 U.S. jobs in 'vote of confidence' in Trump
by Heather Long and Poppy Harlow
January 3, 2017

Ford is canceling plans to build a new plant in Mexico. It will invest $700 million in Michigan instead, creating 700 new U.S. jobs.

Ford CEO Mark Fields said the investment is a "vote of confidence" in the pro-business environment being created by Donald Trump. However, he stressed Ford did not do any sort of special deal with the president-elect.

"We didn't cut a deal with Trump. We did it for our business," Fields told CNN's Poppy Harlow in an exclusive interview Tuesday.

The $700 million investment will go to the Flat Rock, Michigan plant to produce more electric and self-driving cars. Ford believes electric vehicles will outsell gas-powered vehicles within the next 15 years.

Ford is planning to roll out seven new electric vehicles in the next five years, including a Mustang Hybrid.

Ford executives spoke with Trump and vice-president elect Mike Pence this morning. Just hours before the Ford announcement, Trump criticized GM (GM) for producing cars in Mexico.

The union representing car workers was happy.

"I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers," said Jimmy Settles, United Auto Workers vice president.

A big U-turn for Ford

The news is a major U-turn for Ford. Last year, the company announced it would invest $1.6 billion in Mexico to transfer production of the Ford Focus from Michigan to Mexico to save costs. Now the Focus will be built at an existing plant in Hermosillo, Mexico, and Ford will instead expand its plant in Michigan.

"This is a vote of confidence" in Trump and the economy, said Fields. We are "encouraged by pro-growth policies, particularly reform around tax and regulatory policies."

Trump repeatedly slammed Ford on the campaign trail, claiming the company was moving good manufacturing jobs from the U.S. to Mexico. He vowed to slap a 35% tariff on Ford vehicles made in Mexico and sold in the U.S., although experts say it is not possible for Trump do that to a single U.S. company.

"When that car comes back across the border into our country that now comes in free, we're gonna charge them a 35% tax," Trump told Fox in September. "And you know what's gonna happen, they're never going to leave."

Trump taking credit for jobs

Ford fought back against Trump's rhetoric, saying he had his facts wrong and that the company never planned to cut any U.S. jobs.

Ford currently employs 85,000 Americans, up 28,000, or nearly 50%, from five years ago. In Mexico, Ford employs 8,800.

Ford stock jumped 2.5% after the announcement.

Trump adviser Kellyanne Conway tweeted out the Ford news with just one comment: "#AmericaFirst." Trump has been taking credit for a number of announcements companies like Carrier and Sprint have made in recent weeks to keep jobs in the U.S. or create new ones.

So far, commitments of 51,500 jobs have been made by Carrier, SoftBank and Ford, although it's controversial how much of a role Trump played. The U.S. has been averaging about 125,000 private sector job gains a month for the past year under President Obama.

Michigan Governor Rick Snyder sent out a statement: "Thank you, Ford, for your continued confidence in our state and our people."

[rangerrebew]

BREAKING: Ford CEO Cancels Plan For Mexico Plant, Creates 700 Jobs In America [VIDEO]
Photo of Christian Datoc
Christian Datoc
Reporter
11:34 AM 01/03/2017
8057
64
 

Ford President and CEO Mark Fields announced Tuesday that the Michigan-based car company is canceling plans to build a new electric car plant in Mexico.
 

Fields told CNN’s Poppy Harlow that the decision also means 700 new jobs will be created in America.

http://dailycaller.com/2017/01/03/breaking-ford-ceo-cancels-plan-for-mexico-plant-creates-700-jobs-in-america-video/

[SirLinksALot]

SOURCE: INVESTORS BUSINESS DAILY

URL: http://www.investors.com/politics/editorials/is-fords-move-a-cave-in-to-trumps-protectionist-talk-or-a-savvy-bet-on-future/


Trade: Ford's decision to build a factory in the U.S. instead of Mexico, saving 700 jobs, is a good thing. But is it because Ford fears what Donald Trump might do to it, or because it thinks the corporate environment will be so much better under Trump than under Obama? And, yes, the answer really matters.

Ford's move to invest $700 million in Michigan, creating about 700 new jobs here has created quite a political stir. The new plant, slated for Flat Rock, Mich., will make cutting-edge electric and self-driving cars, which Ford has said will likely outsell traditional cars by 2032.

That wasn't all. Last year, Ford announced a $1.6 billion investment in Mexico to shift its Ford Focus production from Michigan to Mexico. Ford now says it will make its Focus at an existing plant in Mexico while expanding its electric-car plant in Michigan.

"We didn't cut a deal with Trump," Ford CEO Mark Fields told CNN on Tuesday. "We did it for business." Indeed, Fields noted that Trump's pledges to ease regulations and cut taxes for businesses would greatly benefit Ford and others. We agree.

Yet it may have been coincidental, but just hours before Ford announced its move, Trump ripped General Motors for making cars in Mexico, suggesting that he would slap a tax on GM cars built there but sold here.

"General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border," Trump tweeted early Tuesday morning. "Make in U.S.A. or pay big border tax!"

It's fair to ask: Was Ford intimidated by this and other Trump comments?

As we noted, the decision in late November by air-conditioning and heating giant Carrier to expand in the U.S. rather than overseas was likewise framed as a business decision, based on the likelihood of a dramatically changed economic environment of lower taxes, fewer regulations and, in general, a more-friendly attitude toward business as a whole.

Indeed, taken together, the decisions by companies such as Carrier, SoftBank, Sprint, Ford and others since Trump won the election will create more than 55,000 jobs in the U.S. instead of somewhere else in the coming months. This could be a very positive sign — or a very negative one, depending on their reasons.

CLICK ABOVE LINK FOR THE REST....

[Frank Cannon]

Trump had a lot to do with this. Ford isn't stupid. They looked at the election map. They are not selling a lot a cars in these Socialist counties, but they are in all the Red ones.