1,000,000 American Jobs at Risk on Fuel Economy Standards
$F, $GM, $FCAU
About 1-M US jobs are at risk if fuel-economy rules do not align with market reality, according to Ford Motor Co. CEO Mark Fields.
Mr. Fields and fellows: General Motors Co. (NYSE:GM) CEO Mary Barra and Fiat Chrysler Automobiles NV’s (NYSE:FCAU) CEO Sergio Marchionne did not ask to have fuel-economy standards eliminated during their meeting with President Donald Trump at the White House last week.
The focus of the Oval Office meeting was on combining various sets of government regulations and ensuring they take into account consumer demand.
“We think having one national standard on fuel economy is really important,” Mr. Fields said at the National Automobile Dealers Association (NADA) convention in New Orleans. Mr. Fields said the jobs “could be at risk if we are not given some level of flexibility on that, aligning it to market reality. So that really resonated.”
Mr. Fields’s comments are the most in-depth that any of the 3 US auto CEOs have given about closed-door discussions with President Trump at the White House last Tuesday.
In responding to the President’s criticisms on Twitter and demands to maximize hiring at home, the carmakers are pushing the Trump Administration for regulatory help that could boost their profits and encourage investing in domestic factories.
|HeffX-LTN Analysis for F:||Overall||Short||Intermediate||Long|
|Neutral (0.19)||Neutral (0.06)||Neutral (0.04)||Bullish (0.46)|
|HeffX-LTN Analysis for GM:||Overall||Short||Intermediate||Long|
|Bullish (0.26)||Neutral (0.04)||Bullish (0.45)||Bullish (0.29)|
|HeffX-LTN Analysis for FCAU:||Overall||Short||Intermediate||Long|
|Bullish (0.47)||Bullish (0.31)||Bullish (0.48)||Very Bullish (0.62)|
Have a terrific weekend.
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