adplus-dvertising
Connect with us

Business

GM to invest $1 billion in Mexico to build electric vehicles

Published

 on

By Sharay Angulo and David Shepardson

MEXICO CITY (Reuters) –General Motors Co said on Thursday it will invest $1 billion in a manufacturing complex in Mexico, drawing immediate criticism from the union for U.S. autoworkers as it prepares to build electric vehicles in 2023 in the border state of Coahuila.

GM said it is building a new high-tech paint shop that will start operations from June at the Ramos Arizpe site, which currently assembles conventional internal-combustion vehicles, including the Chevrolet Equinox and Blazer models, along with engines and transmissions.

The United Auto Workers criticized GM’s decision to build EVs in Mexico instead of using the union’s members in the United States when Washington is considering large new incentives for electric vehicles.

“At a time when General Motors is asking for a significant investment by the U.S. government in subsidizing electric vehicles, this is a slap in the face for not only UAW members and their families but also for U.S. taxpayers and the American workforce,” said UAW Vice President Terry Dittes in a statement, calling it “unseemly” to accept U.S. government subsidies and make vehicles outside the United States.

GM responded to the UAW statement by noting it has “recently announced nearly 9,000 jobs and more than $9 billion in new electric vehicle or battery cell manufacturing facilities in Michigan, Ohio and Tennessee.”

The White House did not immediately comment, but President Joe Biden has called for $174 billion to boost U.S. EV production, sales and infrastructure.

On Wednesday, Biden told U.S. lawmakers “there’s no reason why American workers can’t lead the world in the production of electric vehicles and batteries.”

GM issued a news release about the Mexican investment only in Spanish on its website and later provided an English translation when asked.

GM said it also plans to build batteries and electrical components at Ramos Arizpe and is making other improvements to its manufacturing complex.

GM did not say when it began building its new paint shop but previously came under criticism from former President Donald Trump for its Mexican operations. Trump had threatened to tax GM vehicles imported from Mexico.

GM aims to build two Chevrolet electric SUVs at Ramos Arizpe starting in 2023, according to Sam Fiorani, who tracks future vehicle production for AutoForecast Solutions.

A GM spokesman said the company was not announcing or confirming the electric vehicles that will be built in Coahuila, describing Fiorani’s comment as speculation.

The automaker already makes electric vehicles at four locations in the United States and Canada. GM has said it aspires to halt U.S. sales of gasoline-powered passenger vehicles by 2035.

GM’s Ramos Arizpe expansion will include new capacity to make batteries and other electronic components, which will begin during the second half of this year, the company said.

“I’m sure this investment will contribute to continue boosting Mexican manufacturing while bringing development to the region, the industry and the country,” said Francisco Garza, president of GM’s Mexican unit, during a webcast announcement.

Garza said he could not rule out adding a third production shift to the Ramos Arizpe facility in the near term, which would depend on meeting certain economic conditions.

The facility’s current workforce has 5,600 direct employees.

(Reporting by Sharay Angulo; additional reporting by David Shepardson in WashingtonWriting by David Alire Garcia;Editing by Dave Graham, Dan Grebler and David Gregorio)

Continue Reading

Business

Stop Asking Your Interviewer Cliché Questions

Published

 on

Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

Continue Reading

Business

Canadian Natural Resources reports $2.27-billion third-quarter profit

Published

 on

 

CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

Published

 on

 

CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending