“As goes GM, so goes…”

Listen 49:01
The logo for General Motors appears above a trading post on the floor of the New York Stock Exchange, Monday, Nov. 26, 2018. General Motors will lay off thousands of factory and white-collar workers in North America and could close five plants. (AP Photo/Richard Drew)

The logo for General Motors appears above a trading post on the floor of the New York Stock Exchange, Monday, Nov. 26, 2018. General Motors will lay off thousands of factory and white-collar workers in North America and could close five plants. (AP Photo/Richard Drew)

Guests: Mary Lovely, Catherine Rampell

GM announced on Monday that it is closing 5 factories and laying off thousands of workers and managers, blaming slow sales and reportedly saving the company billions of dollars. President Trump said he told the CEO he was not happy with what she did. Trump had made revitalizing the auto industry and manufacturing a center piece of his campaign which has been on a collision course with his trade and tariff policies as president. Meanwhile the stock market has been on a wild ride, losing much of its gains this year even as unemployment remains low and economic expansion continues. Joining us to talk about all of the latest economic news is CATHERINE RAMPELL of The Washington Post, and MARY LOVELY, professor of economics at Syracuse University.

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