October 30, 2012 |
AVON LAKE, Ohio — In a sign of continued concern over the political impact of his opposition to the auto bailout, Mitt Romney is airing an ad that blames President Obama for sending auto companies into bankruptcy and erroneously implies that the president's actions prompted a car manufacturer to send jobs overseas. Thousands of jobs in the upper Midwest were tied to the auto bailout — $80 billion in federal loans to GM and Chrysler — that many credit with saving the industry.
May 8, 2012 |
LANSING, Mich. - Mitt Romney is making a play for his native Michigan, which last voted for a Republican for president nearly a quarter of a century ago. His task is made infinitely more difficult because of his opposition to the auto bailouts that many credit with saving the industry, a fact that was illustrated when he took the stage here Tuesday, not far from a GM plant. As protesters outside the Lansing Community College auditorium where he appeared criticized Romney's opposition to the bailouts, the presumptive GOP nominee was introduced by Michigan Gov. Rick Snyder, a Republican who has called the $80-billion federal loans to GM and Chrysler successful.
May 8, 2012 |
Presumptive GOP presidential candidate Mitt Romney is again claiming credit for saving the U.S. automobile industry. On Monday the former Massachusetts governor visited a manufacturer of truck parts in Euclid, Ohio, where he was interviewed by a local television station. The reporter noted that the manufacturer, Stamco Industries, may owe its survival to the federal government's decision to throw lifelines to General Motors and Chrysler in early 2009. Romney responded by giving his own version of events: "My own view, by the way, was that the auto companies needed to go through bankruptcy before government help.
April 19, 2012 |
Detroit native Mitt Romney has long contended that the U.S. automobile industry would be better off had the federal government not bailed out General Motors and Chrysler. In particular, he argued in 2008 and again in February (while campaigning in Michigan's Republican primary) that the companies should have restructured themselves without the feds' involvement through a "managed bankruptcy" process. But that ignores a crucial fact: Companies that are broke require money to keep operating, even while under the protection of a Bankruptcy Court.
March 19, 2012
Mitt Romney has car trouble. No, we're not referring to the notorious 1983 incident in which he forced the family dog to ride in a crate strapped to the top of his station wagon, but a matter likely to hurt him far more with blue-collar voters: his contention that the bailouts of the U.S. automotive industry by both Presidents George W. Bush and Obama were a bad idea. If a speech last week by Vice President Joe Biden is any indicator, the Obama campaign is going to use the auto bailouts as a sledgehammer against Romney, should the latter emerge as the GOP nominee.
December 11, 2011 |
In 2006, Carlos Ghosn, chief executive of Renault and Nissan and one of the car industry's longest-serving bosses, held exploratory talks on an alliance with General Motors. Kirk Kerkorian, the Beverly Hills billionaire investor, had built a large stake in GM and won a board seat at a company that he thought was drifting but that Ghosn could help get back on course. But the talks with GM — whose then-CEO, Rick Wagoner, considered Kerkorian a gadfly — went nowhere. GM demanded a $2-billion "equalizing contribution" from Renault and Nissan for the privilege of forming a partnership.