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Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-13 C$ 58.82
Market Cap C$ 22,548,904,338
Recent Sedar Documents

Globe says Trump now has to prove himself to GM, others

2017-01-16 08:33 ET - In the News

See In the News (C-GMM) General Motors Company

The Globe and Mail reports in its Monday, Jan. 16, edition that president-elect Donald Trump must prove to his supporters that he has their interests at heart. The Globe's David Shribman writes that Mr. Trump appealed to uneducated and unemployed blue collar workers by speaking to them in an idiom of jobs. Mr. Trump has made symbolic steps already, jawboning an Indiana company not to move air-conditioning workers' jobs to Mexico, hectoring General Motors for importing cars from Mexico and criticizing the Ford Motor for planning a $1.6-billion (U.S.) plant in Mexico that the automaker backed away from early this year. The Wall Street Journal among others, including Democrats, warned that discrete appeals or demands to individual companies could have deleterious results, perhaps discouraging firms from investing in the U.S. out of fear that Washington would intervene if it made a rational business decision later. Mr. Trump promised jobs -- not just jobs, but jobs for miners and steel workers -- and now he has to deliver. Many business analysts believe this will be a Herculean task. A man who has for months talked big, now has to deliver in a big way.

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