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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: IC720 who wrote (1155122)	8/6/2019 1:29:54 PM
From: IC720	Respond to of 1578704

Left twitter.com Right twitter.com

To: IC720 who wrote (1155122)	8/6/2019 1:35:03 PM
From: sylvester80	Respond to of 1578704

OOPS! Trump’s Savior of GM’s Closed Ohio Plant Manages Just $6,000 in Sales Kyle Lahucik and David Welch BloombergAugust 6, 2019 finance.yahoo.com (Bloomberg) -- The electric truckmaker in talks to reopen a closed Ohio car factory that U.S. President Donald Trump has championed reported a dismal quarter of results as vehicle shipments ground to a halt. Workhorse Group Inc. had just $6,000 in sales during the three months ended in June, down from about $171,000 a year earlier. The Cincinnati-based company announced in May it was in discussions with General Motors Co. to form a new affiliate that will buy the automaker’s shuttered Chevrolet Cruze car plant in Lordstown, Ohio. Workhorse shares plunged as much as 35%, their biggest intraday drop in four years, to $2.58. Chief Executive Officer Duane Hughes said on an earnings call that the company has $70 million in back orders for its electric vehicles, though its factory in Union City, Indiana, will handle much of that work. The Lordstown plant’s size and experienced workforce could boost the company’s bid for a possible $6.3 billion contract with the U.S. Postal Service to build 180,000 electric mail trucks. “We view the plant as a potential game changer for the postal service contract,” Hughes said. Trump preempted GM and Workhorse’s announcement of their talks in May by more than an hour, tweeting in all caps that the development was “great news for Ohio!” The United Auto Workers’ local president told Bloomberg News he was unaware of the discussions, and the union issued a statement calling for GM to assign a new product to the plant and keep operating it. During a July 2017 rally in nearby Youngstown, Trump told supporters “don’t move, don’t sell your house,” because his administration would bring jobs back and fill up the area’s factories. But by November of last year, GM announced plans to stop production, costing Lordstown the last of the roughly 4,500 direct jobs the plant provided just a few years ago.