CEOs, including Ford’s Mark Fields, have warned that discouraging cheap imports could damage the U.S. economy, though he and other business leaders appear to have adopted a more conciliatory stance as inauguration day approaches.
Trump, who will be sworn in on January 20, hasn’t let up on his campaign-trail threats to slap 35% imposts on Mexican-made cars. Last week, he criticized GM for making a version of its Chevrolet Cruze south of the border. “Make in USA or pay big border tax!” Trump said on Twitter.
Japan’s Toyota also drew fire from Trump for its plans to build a new Mexican facility, triggering a slump in its share price and those of other auto companies in Tokyo on Friday.
As reported in Chief Executive, Ford last week canceled a $1.6 billion factory in Mexico and said it would invest $700 million into a Michigan plant. Fields described the move as a “vote of confidence” in Trump and his policy plans, but insisted the company would have made the same decision in any case due to dwindling small-car sales.
Fiat Chrysler’s plans also involve shifting the production of a pick-up truck to Michigan from Mexico. The Italian-American company will upgrade two factories, in Michigan and Ohio, by 2020 and create around 2,000 jobs, it said in a statement Sunday.
“The expansion of our Jeep lineup has been and continues to be the key pillar of our strategy,” CEO Sergio Marchionne said.
Mexico still features heavily in many company’s production profiles, indicating they may be hedging their bets in anticipation of a Trump presidency, rather than abandoning offshore production altogether.
Fiat Chrysler employs almost 12,000 workers across seven Mexican manufacturing facilities, according to its website. Ford, meanwhile, will continue to make small cars at an existing Mexican site.
And new Mexican plants aren’t being ruled out either.
A senior representative from BMW told the BBC this morning that the German company is “absolutely” committed to building a new $1 billion plant there. The facility, slated for San Luis Potosi, will make BMW’s 3 Series cars for sale across North America, according to sales and marketing director Ian Robertson.
He added, however, that BMW was investing a similar sum of money in a plant in South Carolina.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
