Well, who’s going to move all the existing tooling to factory sites in Mexico then? Where are they even going to find good factory sites in Mexico with access to good transportation (ports and rails) and skilled labor force on such short notice?
Moving manufacturing is a major undertaking for any company, of course, I don’t expect someone like Jim Kramer to know that.
Of course, but the thing is, it’s been decades since NAFTA, and all the good sites for manufacturing has all been taken by someone already. So, if they try to move now, not only will they have to build the factory, they’ll have to also build power stations/railways/port expansions, which could take multiple years.
Anyone remember when he went on The Daily Show and Jon Stewart scolded him like a naughty child and he couldn’t do anything but sit there and take it? Good times.
Not always Mexico, but yeah outside the US. Many of them have followed through with that. As capitalism pushes harder and harder for profits companies continue to look for ways to cut costs. Moving production to countries with cheaper labor and lax safety regulations is an easy way to do so.
I joined the auto industry around 5 years ago. It blew my mind to some extent to be made aware that some ~25 years later, the effects of NAFTA are still to be fully realized. I had assumed that enough time had passed that any economic rebalancing would have been complete.
The potential is there and ripe for industry to whole cloth make the move to Mexico. My company for one is rumored to have an unwritten rule that they don’t do new construction in the US, despite being a US based company.
Only a few crown jewel US locations are really well managed and supported.
I am the first generation not to work in an GM auto plant in my family. The town I grew up in was built by autoworkers after nafta passed, slowly the jobs started moving north and south. Almost all the plants and associated plants closed.l as they moved away.
Anybody that thought Cramer was for anything but infinite rise in profit no matter the cost hasn’t really been paying attention to his entire history of shilling for corporate intersts.
After they hear this, I expect the big three to immediatly cease all manufacturing in Mexico and add a UAW seat on the Board of Directors. Cramer’s advice should never be ignored.
Cramer built his career on misleading investors to pad hedge funds’ profit margins. His opinion on literally everything should be immediately discarded.
Although Henry Ford was a fucking Nazi, he had a lot of good common sense business and economic points. He made sure all of his employees could easily afford the cars they were building and it made an empire.
How did we get to this point where a large portion of the country somehow believes workers shouldn’t be able to afford to buy anything?
That is actually easy: They don’t think about the economy as a whole. They only look what might suit them best in this exact moment to increase „shareholder value“ for a short moment.
No you see outsourcing jobs is good for conservatives because it prevents illegal immigration and increases profits for the shareholders.
Making living conditions in Mexico so good that they wouldn’t want to come north to our shithole country is the best way to fight illegal immigration and totally pwn the libs.
Sure, in the case of non-union workers, Federal minimum wage and workplace regulations are a joke. Thankfully, no UAW worker is making that minimum wage. They’re unionized for a reason.
