Kamis, 30 Mei 2019

Safe Or Scary? The Shifting Reputation Of Glyphosate, AKA Roundup - NPR

John Draper pours glyphosate into the tank of his sprayer at the University of Maryland's Wye Research and Education Center. Dan Charles/NPR hide caption

toggle caption
Dan Charles/NPR

John Draper and I are sitting in the cab of a tractor on the research farm he manages for the University of Maryland, alongside the Chesapeake Bay. Behind us, there's a sprayer.

"So, away we go!" Draper says. He pushes a button, and we start to move. A fine mist emerges from nozzles on the arms of the sprayer.

We're spraying glyphosate, killing off this field's soil-building "cover crop" of rye before planting soybeans.

Farmers have been using this chemical, often under the trade name Roundup, for about four decades now.

But now it's under fierce attack, accused of causing cancer. In three civil cases so far, U.S. juries have ordered Roundup's inventor, Monsanto, now owned by Bayer, to pay enormous damages to cancer survivors. Thousands more lawsuits have been filed.

For this chemical, and for Monsanto, it's a stunning change in fortunes.

Farmers felt that they could spray glyphosate with a clear conscience. It doesn't persist in the environment as much as, say, DDT did. It doesn't build up in groundwater like another widely used herbicide, atrazine. And it's certainly less toxic than some alternatives.

"If we were spraying Gramoxone [the trade name for paraquat, another herbicide], even for you to be standing next to the sprayer, you'd have to have a respirator on. I'd have to wear a respirator even in the tractor, spraying," says Draper.

Monsanto started selling Roundup in 1974. For 20 years, it didn't attract much attention. That was Act 1 of the glyphosate drama: the quiet years.

Act 2 began in the late 1990s.

In 1996, Monsanto started selling genetically modified crops, or GMOs. They were modified so they could tolerate glyphosate. This meant that farmers could now spray this chemical right over their "Roundup Ready" soybeans, corn and cotton, and the crops would be fine but the weeds would all die.

It was a farming revolution built on glyphosate. Monsanto quickly became the world's biggest seed company. And farmers started spraying a lot more Roundup. Sales of the chemical increased more than ten-fold.

It all happened so fast that it scared a lot of people. There were anti-GMO protests around the world, and glyphosate came under increasing scrutiny.

A pedestrian walks past anti-glyphosate art in Popayán, Colombia. Glyphosate has been deployed in Colombia to wipe out coca and poppy crops. Dan Charles/NPR hide caption

toggle caption
Dan Charles/NPR

The International Agency for Research on Cancer, part of the World Health Organization, decided to carry out a new assessment of glyphosate's risks.

On March 20, 2015, IARC announced its conclusion: Glyphosate is "probably carcinogenic to humans."

That conclusion rests on three kinds of studies. First, IARC found "strong evidence" that glyphosate can damage DNA in cells. This kind of damage, inducing mutations, is the first step in causing cancer. Second, there are studies showing that when mice ate glyphosate, they got more tumors. Kate Guyton, a senior toxicologist at IARC, told reporters at a news conference that "these two studies gave sufficient evidence of cancer in animals."

Finally, IARC says there's "limited evidence" that people exposed to glyphosate had higher rates of a particular kind of cancer — non-Hodgkin lymphoma.

Guyton has been studying the causes of cancer for decades. Nothing she has ever done, she says, provoked as much of a reaction as the glyphosate announcement. "The Internet kind of exploded," she says.

Anti-GMO groups felt vindicated. Monsanto's top executives were furious and launched a public relations campaign attacking IARC and its report.

And in the small town of Orange, Va., a personal injury lawyer named Michael Miller started lining up clients — people with non-Hodgkin lymphoma who'd used Roundup. "I decided that these people needed a voice in the courtroom," he says.

The scientific picture got more complicated, though. Other government agencies, including the U.S. Environmental Protection Agency and the European Food Safety Authority, took a fresh look at glyphosate. And they concluded that it probably is not giving people cancer.

David Eastmond, a toxicologist from the University of California, Riverside, helped conduct one of these glyphosate reviews for another part of the World Health Organization, the Joint FAO/WHO Meeting on Pesticide Residues.

"From my reading of things, if glyphosate causes cancer, it's a pretty weak carcinogen, which means that you're going to need pretty high doses in order to cause it," he says.

Eastmond says that there are several reasons for this apparent disagreement between IARC and the other agencies.

First, IARC just looks at whether glyphosate can cause cancer; regulators, on the other hand, have to decide whether it actually will, considering how much of it people are exposed to.

Second — and most important, according to Eastmond — different agencies considered different evidence. Eastmond's committee and regulatory agencies like the EPA considered a large number of studies that aren't publicly available because Monsanto paid for them and submitted them to the agencies. "I have never seen a chemical with as many animal cancer studies as glyphosate," Eastmond says.

IARC, however, didn't look at most of this research because it accepts only studies that are publicly available. This allows any other scientist to see exactly what IARC's conclusions are based on.

Eastmond, for his part, thinks company-financed studies are credible and valuable, despite the potential conflict of interest for companies carrying out those studies. The labs, he says, have to follow strict guidelines.

Finally, scientists sometimes look at the same data and disagree about what it means. Eastmond says that he and Guyton had "animated discussions" about some of the data. "We just evaluated the evidence differently, but, you know, these are honest disagreements [among] people who I think are well-meaning," Eastmond says.

Then Act 3 arrived. Glyphosate went to court. There were three civil trials in or near San Francisco.

Lawyers for Bayer, which now owns Monsanto, repeatedly reminded jurors that regulatory agencies had concluded that glyphosate is not a cancer risk.

Lawyers for the cancer victims, though, suggested that those same regulators couldn't be trusted because they'd been manipulated or fooled by Monsanto.

Miller and his legal team showed the juries a whole collection of internal Monsanto emails. In one, company executives described phone calls with an official at the EPA. As Miller describes it, the official said, "I don't need to see any more studies. I'm going to declare Roundup safe, and I'm going to stop another agency from looking at it."

Another Monsanto executive discussed ghostwriting papers on glyphosate's safety that scientists could publish under their own names.

"I think the jury was rightfully offended," Miller says.

All three trials ended with resounding verdicts in favor of the cancer victims. The juries ordered Bayer to pay huge punitive damages. In the most recent case, the damages totaled $2 billion.

Bayer is appealing these verdicts — and the damages probably will be reduced. But more lawsuits are waiting. The total value of Bayer's stock has fallen $40 billion since the first verdict was announced.

Alexandra Lahav, a professor at the University of Connecticut School of Law, says that one lesson of this case so far is that attempts to get favorable decisions from regulators can backfire in court.

"They then open themselves up for the jury to say, 'Wait a minute — you're trying to convince the regulator not to regulate you, and now you want me to believe that the regulator is completely objective,' " Lahav says.

When regulators are seen as weak or ineffectual watchdogs, she says, their seal of approval also carries less weight with the public — and with juries.

The next glyphosate trial is set for August in St. Louis.

Let's block ads! (Why?)


https://www.npr.org/sections/thesalt/2019/05/30/727914874/safe-or-scary-the-shifting-reputation-of-glyphosate-aka-roundup

2019-05-30 09:00:00Z
52780305965488

'Molecules of freedom': US Energy Department tries rebranding natural gas - ABC News

Let's block ads! (Why?)


https://abcnews.go.com/Politics/molecules-freedom-us-energy-department-rebranding-natural-gas/story?id=63366255

2019-05-30 07:47:00Z
52780305332490

Ray Dalio warns China restricting rare earth metals would be 'major escalation' of trade war - Forex Factory

From cnbc.com

Ray Dalio, the co-founder of the largest hedge fund in the world, warned Wednesday that a move by the Chinese to restrict the production and export of rare earth metals to the U.S. would constitute a “major escalation” of the protracted trade war between the globe’s two largest economies. In a blog post on LinkedIn, Bridgewater Associates’ Dalio said that such metals are essential to many American technology companies working at the cutting edge of innovation. “Refined rare metals are a critical import that American companies don’t produce and need to get from China to produce many needed products in the U.S. such as ... (full story)

Let's block ads! (Why?)


https://www.forexfactory.com/news/920040-ray-dalio-warns-china-restricting-rare-earth-metals

2019-05-30 06:06:00Z
52780305807892

Rabu, 29 Mei 2019

Cramer: For the first time in my career, I'm rooting for yields to rise to calm the stock market - CNBC

CNBC's Jim Cramer on Wednesday warned stock investors to pay attention to the possible recession signal coming from the bond market.

"I have learned to never fight the bond market even when it's wrong," Cramer said on "Squawk on the Street, " adding that "nobody is willing to ever say, 'the bond market is wrong.'"

Cramer acknowledges the U.S. economy appears to be slowing, but feels there's not enough evidence to point to a recession, which is technically defined as two straight quarters of contraction in the economy.

"If interest rates would just go, it's amazing I have to say this, if interest rates would go up a little the [stock] market would like it," Cramer said. "I can't recall in my career rooting for higher interest rates. That is nuts."

The Dow Jones Industrial Average fell more than 300 points on Wednesday, tracking closely the decline in yields, which investors were taking as a message from the bond market that a slowing in the economy was ahead.

As U.S.-China trade war fears continue to intensify against the backdrop of some softer economic data, investors this month have been seeking safety and buying Treasurys, sending government debt prices soaring and yields plummeting to multiyear lows. Bond prices and yields move inversely to one another. The decline in yields has been more precipitous on longer term bonds, pushing the 10-year Treasury rate below that of the 3-month government note.

That so-called yield curve inversion on the 10-year and the 3-month — recently widening to spreads not since the 2008 financial crisis — has been viewed on Wall Street as a sign of a recession on the horizon.

The stock market has been following Treasury yields lower, and as of Tuesday's close the S&P 500 was off nearly 5% for the month of May. The index opened sharply lower on Wednesday, with no resolution in sight to the trade and technology disputes between the U.S. and China, which have led to billions and billions of dollars worth of sanctions on each others' goods.

— CNBC's Jessica Bursztynsky contributed to this report.

Let's block ads! (Why?)


https://www.cnbc.com/2019/05/29/cramer-stocks-actually-would-like-it-if-bond-yields-went-up-a-bit.html

2019-05-29 16:04:59Z
52780305442062

DAX geht tiefrot in den Feiertag -- Mediaset kauft 9,6 Prozent an ProSiebenSat.1 -- Knorr-Bremse erhöht Ausblick -- Rocket Internet verdient signifikant mehr -- Aroundtown, Apple im Fokus - finanzen.net

Am Mittwoch bewegte sich der heimische Leitindex unter der Marke von 11.900 Punkten.

Der DAX startete bereits deutlich tiefer in den Handel und rutschte anschließend weiter auf rotes Terrain ab. Zu Börsenschluss verbuchte er letztendlich einen Abschlag von 1,57 Prozent auf 11.837,81 Punkte. Auch der TecDAX eröffnete im Minus und gab weiterhin ab, bis er sich schließlich satte 3,17 Prozent tiefer bei 2.781,67 Zählern in den Feiertag verabschiedete.

Am deutschen Aktienmarkt ging es am Mittwoch wieder abwärts. Aus den USA und Asien kamen negative Vorgaben. Die Sorgen um den Handelsstreit zwischen den USA und China dämpften erneut die Stimmung. Sorgen machten außerdem die drohende Eskalation zwischen den USA und dem Iran, der Brexit und Probleme zwischen der italienischen Regierung und der EU. Daneben belasteten aber auch schwache deutsche Arbeitsmarktdaten. Investoren fürchten sich nun vor einer globalen wirtschaftlichen Abkühlung.

Zur kompletten Index-Übersicht hier klicken

Europas Börsen bewegten sich am Mittwoch in der Verlustzone.

Der EuroSTOXX 50 startete schwächer und fiel im Verlauf weiter zurück. Zum Erklingen der Schlussglocke stand ein Minus von 1,52 Prozent bei 3.297,81 Punkten an der Kurstafel.

Der weiterhin ungelöste Handelsstreit zwischen den USA und China bleibt im Fokus. Die negativen Vorgaben aus den USA sorgten auch in Europa für Verluste. "Die Eskalationsspirale ist in vollem Gang", sagte Thomas Altmann von QC Partners im Hinblick auf den Handelskonflikt. "Wenn China den USA den Zugang zu den Seltenen Erden abriegelt, stehen die USA vor ernsten Problemen", erklärte er weiter.

Hinzu kommt die Angst vor einer neuen Schuldenkrise in Italien.

Zur kompletten Index-Übersicht hier klicken

Die Wall Street verzeichnet zur Wochenmitte Abschläge.

Der Dow Jones notierte zur Handelseröffnung 0,46 Prozent tiefer bei 25.231,46 Punkten und rutscht anschließend weiter ab. Daneben wies der Technologiewerteindex NASDAQ Composite einen Verlust in Höhe von 0,71 Prozent auf 7.553,02 Zähler aus. Auch er hält sich weiterhin auf rotem Terrain.

Nach dem Kursrücksetzer vom Vortag verbuchen die US-Börsen auch am Mittwoch Verluste. Aufgrund ausbleibender Fortschritte bei den Handelsgesprächen zwischen China und den Vereinigten Staaten nehmen die Konjunktursorgen wieder zu. China hatte zuletzt gedroht, seine Vormachtstellung bei den begehrten Seltenen Erden auszunutzen, die in vielen Hightech-Produkten zum Einsatz kommen.

Anleger suchen in diesen unsicheren Zeiten Schutz in vermeintlich sicheren Häfen - insbesondere Staatsanleihen sind derzeit gefragt.

Zur kompletten Index-Übersicht hier klicken

Am Mittwoch tendierten die Aktienmärkte in Fernost in verschiedene Richtungen.

In Tokio verlor der japanische Index Nikkei 225 1,21 Prozent auf 21.003,37 Punkte.

Auf dem chinesischen Festland wies der Shanghai Composite derweil ein leichtes Plus von 0,16 Prozent auf 2.914,70 Einheiten aus. In Hongkong präsentierte sich der Hang Seng 0,57 Prozent tiefer bei 27.235,71 Zählern.

Die asiatischen Börsen zeigten sich am Mittwoch mehrheitlich leichter. Ein Grund dafür dürfte die Talfahrt der Wall Street am Vortag gewesen sein. Donald Trumps Aussage, dass die Voraussetzungen für ein Handelsabkommen aktuell nicht gegeben seien, dämpfte die Stimmung an den Märkten.

Zur kompletten Index-Übersicht hier klicken

Let's block ads! (Why?)


https://www.finanzen.net/nachricht/aktien/heute-im-fokus-29-05-2019-7545608

2019-05-29 15:57:21Z
CBMiS2h0dHBzOi8vd3d3LmZpbmFuemVuLm5ldC9uYWNocmljaHQvYWt0aWVuL2hldXRlLWltLWZva3VzLTI5LTA1LTIwMTktNzU0NTYwONIBAA

Apple’s latest defense of the App Store shows how hard it is to compete with Apple - The Verge

As it faces both an antitrust lawsuit with huge implications and a formal EU investigation over its App Store tactics, Apple is today publicly defending itself against Spotify and other critics of the company’s massively successful software storefront.

“Today, the App Store is more vibrant and innovative than ever, offering equal opportunities to developers to deliver their apps and services across iPhone, iPad, Mac, Apple TV, and Apple Watch,” reads a new page at Apple’s website titled “App Store — Principles and Practices.” “We’re proud of the store we’ve built and the way we’ve built it.”

Apple says it has paid out $120 billion to App Store developers worldwide since the platform launched, and the company again touts the quick approval process and efficient work of its app review team, which now “represents 81 languages across three time zones.” Sixty percent of the approximately 100,000 apps and app updates reviewed each week are approved, with rejections mostly stemming from “minor bugs, followed by privacy concerns.” Apple notes that anyone who feels that they were unjustly rejected can have their situation looked at by the App Store Review Board.

But the most interesting parts of this new site relate to competition. In one section, Apple goes over the core, built-in apps on iOS and lists the many popular third-party options that are available from the App Store in each category as alternatives.

The company fails to mention that none of these apps can be chosen as the default messaging app, maps service, email client, web browser, or music player. That limitation isn’t always a deal-breaker — just ask WhatsApp, which is more popular than iMessage in many countries — but it still gives Apple’s services an advantage. Apple also claims that “developers have lots of choices for distributing their apps — from other app stores to smart TVs to gaming consoles. Not to mention the open internet, which Apple supports with Safari, and our customers regularly use with web apps like Instagram and Netflix.”

The message here seems to be that if companies don’t like Apple’s policies, they’ve got other options. Go find your riches on Android or make a Roku app. But developers have a huge financial incentive to be in the App Store. It’s often been reported that iOS users spend more money on apps than people with Android phones, and Apple leans on that advantage. “Even though other stores have more users and more app downloads, the App Store earns more money for developers,” the company notes. So ignoring the App Store isn’t exactly practical for businesses that want to make a lot of money. As for the open web, how often are you using Instagram or Netflix in the Safari browser on your iPhone or iPad instead of the app itself? On desktop, maybe, but Apple is about to let developers bring their iPad apps to the Mac, and how do you think you’ll be watching Netflix once that happens?

Apple also lists the various types of apps in the store, from completely free to paid to the many with in-app purchases or monthly subscriptions. You might not know that some of the essential apps you use every day are classified as “reader” apps because those companies have decided against giving Apple a cut of their in-app purchases and subscriptions. (Apple takes a 30 percent cut of subscriptions for the first year a customer is signed up and 15 percent for each year thereafter.)

This category includes Amazon Kindle, Netflix, and Spotify. Apple says customers of these services “enjoy access to that content inside the app on their Apple devices” and that “developers receive all of the revenue they generate from bringing the customer to the app.”

But here, again, Apple ignores a major gripe that developers have been raising for years: if an app doesn’t use Apple’s in-app purchase system, its developers are forbidden from telling their customers where and how they can pay outside of the App Store or providing a convenient link. “Not only is Netflix not allowed to link to their website, they can’t even tell the user they need to go to netflix.com to sign up,” John Gruber wrote back in January when Netflix stopped letting new customers subscribe through its iOS app. “Apple can make the rules — it’s their platform. But it’s just wrong that one of the rules is that apps aren’t allowed to explain the rules to users.”

Apple’s new site puts a big spotlight on the App Store’s unrivaled success and reach, but in some ways, it also brings more attention to how difficult it can be to compete against Apple.

Let's block ads! (Why?)


https://www.theverge.com/2019/5/29/18644045/apple-defends-app-store-policies-antitrust-eu-spotify

2019-05-29 14:21:01Z
52780305635134

It's Going to Happen, Isn't It? - Jalopnik

When we first heard about The Who’s Left Merger, it was that Fiat Chrysler was pushing for it, and like all things FCA, we viewed it with as much skepticism as we would, say, our friend telling us they were getting a great deal on a Dodge Journey. But as the days roll on, things are looking increasingly serious. All that and more in The Morning Shift for May 29, 2019.

1st Gear: Renault: You Love It, Don’t You? Nissan: We Are Not Not Loving It.

Here are three pieces of news rolled into one. The first is that Renault has gone to the trouble of flying to Japan to chat with longtime alliance partner Nissan about the latter’s possible merger with Fiat Chrysler. This can only mean one thing, as Bloomberg reports: Renault is down to clown.

B’Berg’s story ran today under the headline “Renault’s message to Nissan: Fiat deal is good for all of us” and here’s a little bit:

Renault SA Chairman Jean-Dominique Senard arrived in Tokyo with a crucial mission: to sell the proposed merger between Fiat Chrysler Automobiles NV and Renault SA to longtime partner Nissan Motor Co.

[...]

While neither party has disclosed what will be discussed, there will be plenty to talk about. Under the terms of the Fiat proposal, Nissan will gain voting rights of 7.5% in the new entity, compared with no voting rights attached to its cross-held shares in Renault. A merger would also dilute the French state’s control over Renault, and indirectly over Nissan, easing a concern the Japanese company has had for years.

Senard’s goal is to ensure that they all work well together. Although Nissan and Renault have been partners for two decades, the Japanese automaker isn’t in a position to block the deal. Nissan doesn’t own a controlling stake in the French company, and a merger wouldn’t breach their operating agreement.

Advertisement

Bloomberg couldn’t get comment from Nissan for the story, but the Nikkei got some goss, as reported by Reuters today:

“We are not opposed,” the Nikkei quoted an unnamed Nissan source who had attended the meeting as saying. The person also said “many details need to be worked out” before the Japanese automaker solidifies its position on the issue, the Nikkei reported.

In a statement, the alliance members confirmed that they had “an open and transparent discussion” on the proposal. The deal looks designed to tackle the costs of far-reaching technological and regulatory changes, including the drive toward electric vehicles.

Advertisement

In any case, the two sides are meeting on Monday, as the Financial Times reports. I wish them all well in this definitely well-thought-out merger that makes sense to everyone and doesn’t seem like desperation.

2nd Gear: Of Course Wall Street Loves a FCA-Renault-Nissan Merger For Every Wrong Reason

Wall Street never met a budget it couldn’t slash, and unsurprisingly it is loving the prospect of trimming the fat on five carmakers at once, as The Detroit News reports today:

A potential merger between Fiat Chrysler Automobiles NV and Renault SA would create a massive global company, but it’s the cost cuts proposed by FCA that has investment analysts optimistic about the deal.

The proposed 50-50 merger between the Italian-American Fiat Chrysler and France’s Renault would create the third-largest automaker in terms of sales, behind Volkswagen AG and Toyota Motor Corp. It’s a move that would also save some $5.6 billion (5 billion euros) annually for the companies as they find ways to cut costs in manufacturing, purchasing and R&D.

Advertisement

Hold on, wait, there’s a better quote in here, from Moody’s, which just upgraded FCA to its highest level of junk status, as the Detroit News notes. Take in this fantastic line, which says in as many words as possible that this is going to be a giant mess but they’ll slash costs and we’ll make out like bandits:

“Combining Fiat Chrysler and Renault would be credit-positive in general as it makes strategic sense and could create a substantial amount of synergies,” Falk Frey, senior vice president and auto analyst at Moody’s, said in a Tuesday note. “However, we’ll also consider significant execution risks of such a large scale transaction given the complexity of the two group’s businesses’ operations, particularly in view of Renault’s existing alliance with Nissan Motor Co. Ltd and Mitsubishi Motors Corporation.”

Now, there was some nice analysis from automotive journalist and friend of Jalopnik John Voelker, who noted that, yes, it sounds evil to salivate about “a substantial amount of synergies,” but there really is still a lot of pointless fat in the auto industry today:

Advertisement


Personally I would love to see the auto industry as it stands today change entirely, moving from these giant silo’d giants into tons of tiny manufacturers, all putting together different combinations of licensed engines or electric modules on widely available skateboard chassis, like we had over a hundred years ago.

3rd Gear: Infiniti Returning To Japan After Ghosn Moved It To Hong Kong

I’m going to be completely honest, I totally forgot this happened.

For some reason Carlos Ghosn moved Infiniti’s headquarters to Hong Kong back in 2012 in an effort to make it more in his image, I mean, more international. Anyway, with Ghosn gone, Infinti is packing up its pencils once more, as Bloomberg elaborates in a wire report:

Ghosn in 2012 planned to more than triple Infiniti’s annual sales to 500,000 units within five years to raise its share of the global luxury car market to 10%. The brand sold less than half of the target last year.

Hurt by slumping U.S. sales, aging vehicle models and an out-of-sync product cycle, Nissan reported its lowest annual profit in a decade for the fiscal year through March. Chief Executive Officer Hiroto Saikawa is working on reviving profits, pledging to lift Nissan out of a “rock bottom” in two years. Infiniti currently has 180 employees based in Hong Kong, mostly in management, sales and marketing positions.

Advertisement

The report further noted that Infinti is planning on dumping its diesels and focusing on EVs and China, which is what you could also call the “doing what Tesla has been trying to do for years now” plan of action.

4th Gear: China Considering Subsidizing EV Charging

China has been somewhat vocal in saying it’s rolling back on subsidizing its budding electric car hegemony, but apparently someone in power didn’t get the message, as noted in a Bloomberg wire report today:

China is scaling back subsidies on EV purchases and plans to phase them out completely after 2020 amid concerns that automakers have become overly reliant on them at the expense of developing new technologies. The funding offered on purchases will be diverted to develop charging infrastructure, industry minister Miao Wei said in March.

China, which has about 960,000 charging poles for its 2.31 million electric vehicles, is working to upgrade the network. The new standards will boost the capacities of facilities about sixfold to more than 350 kilowatts, making re-charging as efficient as a filling a regular fuel tank, Liu [Kai, a director with the Information and Certification Department of the China Electric Vehicle Charging Infrastructure Promotion Alliance] said.

Advertisement

There’s a part of me that worries about this. I don’t love the idea that the fate of EVs may hinge upon a government program, one that could change at any time, but any little bit helps and it’s not like consumers are any less fickle, buying gas guzzlers the moment fuel prices drop.

5th Gear: In New Era Of Auto Layoffs, It’s Hard To Tell Who Looks Worse: Detroit or Washington

I love everything about this incredibly obvious analysis from The Washington Post, which seems to have just now woken up to realize Detroit has been slashing jobs while budgets have been fat, and Trump hasn’t been helping anything:

[T]here’s another pillar of Trump’s base — the auto industry, which he promised to transform into the engine of a manufacturing revival — that is stalling at an inopportune moment for the president.

Layoffs in the industry this year are at their highest since the economic crisis a decade ago[.]

Advertisement

The piece focuses on Trump not fulfilling his promises of helping out the auto industry, which, ha, but I think you can’t look at this without putting a great deal of blame on companies like GM for shutting down whole factories when we’re not even in a recession.

Reverse: This Was More Recent Than You’d Wish

Advertisement

Neutral: What Do You Call The Potential Fiat-Chrysler-Renault-Nissan-Mitsubishi Conglomerate?

Is it the Who’s Left Merger? Is it the Merger To Restore Balance, as with one new auto company entering the fray (Tesla) another must presumably be absorbed? Is It The Merger Of Equals But For Real This Time? Your thoughts are welcome.

Let's block ads! (Why?)


https://jalopnik.com/its-going-to-happen-isnt-it-1835089827

2019-05-29 14:04:00Z
52780305656884