The old adage, “As goes GM, so goes the nation,” came to life in comments by the General Motors president in 1953, when he persuaded the U.S. Senate he would have no conflict of interest as President Dwight D. Eisenhower’s defense secretary. The adage has held for more than a century — even though GM these days is just a fraction the market value of Apple or Amazon. That’s why the first word that came into my head was “recession” when I heard the news Monday morning that the Detroit automaker will shutter four plants in the United States, one in Canada and two overseas, and slash its salaried ranks by 15 percent. As always, a recession is coming but we don’t know when.
from News https://www.ctpost.com/business/danhaar/article/Dan-Haar-GM-cuts-come-as-recession-fears-rise-13423170.php
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