Welcome Guest [Log In] [Register]
Add Reply
Zer0 really is a moron...claims he saved Ford...
Topic Started: Aug 5 2010, 08:48 PM (180 Views)
LTC8K6
Member Avatar
Assistant to The Devil Himself
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/obama-i-saved-ford-by-bailing-out-its-competitors-100050359.html
Offline Profile Quote Post Goto Top
 
kbp

The heroic Emperor (by the sixth degree).

He's reallly, really hurting for something to brag about.

Quote:
 
From the WH Press Release of a transcript

"...
The year before I took office, this industry lost hundreds of thousands of jobs. Sales plunged 40 percent — 40 percent. When the financial crisis hit and this great recession hit, that collided with an industry that for a long time had put off some hard choices, had put off adapting to changing times. And we had to face a hard, unimaginable reality, which was two of the Big Three automakers — GM and Chrysler — were on the brink of liquidation. If that had happened, more than 1 million jobs could have been lost, and that would have been a devastating blow to the entire economy.

Now, Ford was in better financial shape and was able to weather the storm without federal assistance. (Applause.) That’s a testament to the hard work you all do and the choices this company made. But I don’t have to tell you, and your CEO will — has said this publicly — if your competitors had gone down, they would have taken down a whole bunch of the suppliers you depend on. The brand of American autos would have diminished. That would have had severe consequences for Ford. And that’s the challenge we faced when I took office: an industry that was on the brink.

Think back to when the money being wasted at GM was blamed on Bush (while some in the press questioned the bankruptcy used).

Online Profile Quote Post Goto Top
 
longstop
longstop
G.M. CEO to feds: We’re tired of being “Government Motors” so how about selling your shares?

http://hotair.com/archives/2010/08/05/g-m-ceo-to-feds-were-tired-of-being-government-motors-so-how-about-selling-your-shares/

snip
“We want the government out, period,” Mr. Whitacre said in comments after speaking at an automotive conference in northern Michigan. “We don’t want to be known as Government Motors.”…
Eliminating government ownership, he said, would be good for employee morale and would improve G.M.’s image. While unusual, selling all the shares during an initial offering is not unheard of. The credit card giant Visa raised about $19 billion during an offering in March 2008. The risk of a large offering, analysts said, is that interest among buyers could wane as the sale approaches, causing the price to fall. A Treasury spokesman, Mark Paustenbach, declined to comment on Thursday. The department issued a statement in June saying that G.M. would control the timing of the offering but that the Treasury would “retain the right, at all times, to decide whether and at what level to participate in the offering, should it occur.”…
Mr. Whitacre dismissed concerns by some analysts that G.M. was moving too fast. Many have speculated that the Obama administration, whose decision to help G.M. and Chrysler last year was widely unpopular, wants the offering to occur before the November elections.
snip
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · LIESTOPPERS UNDERGROUND · Next Topic »
Add Reply