US Vice President Joe Biden, throwing punches as a warrior for the middle class, plunged into the 2012 election race Thursday, hailingPresident Barack Obama as a man with “steel in his spine.”
Obama meanwhile launched his own political barbs, mocking Republicans who oppose his energy plans as “naysayers” on a day his reelection campaign stepped up a notch with the release of a laudatory documentary on his presidency.
Biden praised Obama for rescuing US [...]
Two members of the creative team that produced the two-minute minute spot for ad agency Wieden+Kennedy donated their personal time in 2008 to make pro-Obama art.
This year’s most discussed Super Bowl ad—a two-minute spot for Chrysler narrated by Clint Eastwood—continues to generate controversy in conservative political circles, where a host of questions have been raised about the automaker’s alleged motives for commissioning the advertisement.
In the days ahead, similar politically charged queries also [...]
By Carlos Osorio, AP
Despite the bailout money still owned taxpayers, President Barack Obama is going to try to ride his rescue of General Motors and Chrysler to a reelection victory.
Proof? Look no further than his surprise visit to the Washington Auto Show today where he took a close look at some of Detroit’s new models.
The Associated Press says for Obama, the auto bailout is a case study for his efforts to revive [...]
By Jonathan Alter, Published: January 20
Barack Obama’s rise in politics was so rapid, and his background so unusual, that he was immediately subjected to malicious myths — from the bogus story that he was raised Muslim to the lie that he wasn’t born in the United States. Of course, some of the raps on Obama are valid interpretations of his performance. It’s not a myth that he was long distracted [...]
It is also to impose duties on American cars as it says it doesn’t want foreign products being dumped there but rather develop and encourage its own leading companies:
China has said it will withdraw support for foreign investment in the country’s car industry to encourage domestic carmakers, according to state media.
The Xinhua news agency cited a joint announcement from the Ministry of Commerce and the National Reform and Development [...]
Rep. Darrell Issa (R-Calif.) said Tuesday that his committee plans to investigate government loan programs to private corporations in light of allegations of improper dealings between the White House and failed energy company Solyndra and wireless start-up LightSquared.
“I want to see when the president and his cronies are picking winners and losers… it wasn’t because there were large contributions given to them,” the chairman of [...]
FILE – In this May 24, 2011 file photo, an assemblyman works on the line building Chrysler 200 vehicles at the Sterling Heights Assembly Plant in Sterling Heights, Mich. People briefed on the matter on Wednesday, Sept. 7, 2011 said Chrysler, Ford, and the United Auto Workers remain far apart in labor talks just a week before the current contract expires. Another person says [...]
I’m watching China: Sky rockening prices have eroded confidence among Chinese consumers, which fell for the first time in six quarters, an index showed yesterday.The Chinese Consumer Confidence Index plunged to 104 in the third quarter from 109 in the previous three months, according to a study jointly released by the Economic Monitoring and Analysis Center under the National Bureau of Statistics and the [...]
Reasons why the government loaned GM and Chrysler money and took control of them – it saved Ford from bankruptcy as well:
“Transplant” auto factories do not actually retain auto jobs in the U.S. They globalize the jobs:
GM and Chrysler are less than 1% of any “bailout” money given by the government:
Citi, JP Morgan, Goldman loaned Ford money in 2006 were bankrupt in 2008:
Ford is loaned money from the U.S. government [...]
June 24, 2010
More Car Jobs Shift to Mexico
U.S. production may decline over the next decade, despite the bailout
The Obama Administration spent more than $80 billion last year to prop up General Motors and Chrysler in a controversial effort to save millions of American manufacturing jobs. Both car companies have since stabilized, and business is also looking up at Ford Motor (F). Yet as they map out their investment plans in [...]
David Rosenberg writes in ThursdayÃ¢â‚¬â„¢s Breakfast with Dave piece:
Ban the Bailout
First we have governments bailing out banks (and auto companies and mortgage providers), homeowner debtors, and now we have governments bailing out governments. When does someone finally say Ã¢â‚¬â€ enough is enough!
Oh no Ã¢â‚¬â€ bank ABC is too big to fail. Company XYZ is too complex to fail. And now country GRK is too interconnected to fail. Give me a [...]
(1) After the war, and (encouraged (i.e. lobbied by the Auto Manufacturers and real estate developers), the Federal government started building roads out to suburbs (I think they paid 80% of the cost) (2) the tax code was structured so that inner cities subsidized suburbs (so the inner cities collapsed) (3) Auto companies bought up trams and closed them down – so people had to have cars (4) the state [...]