Romney taking credit for auto industry success [Archive] - Glock Talk

PDA

View Full Version : Romney taking credit for auto industry success


Ruble Noon
05-08-2012, 04:55
http://news.yahoo.com/romney-taking-credit-auto-industry-success-031025566.html

Restless28
05-08-2012, 05:38
Obamney. That guy sure is swell.

frank4570
05-08-2012, 05:47
"I pushed the idea of a managed bankruptcy, and finally when that was done, and help was given, the companies got back on their feet," Romney said in an interview inside a Cleveland-area auto parts maker. "So, I'll take a lot of credit for the fact that this industry has come back."

Wow, what a snake.

Alizard
05-08-2012, 13:58
Fastest U-turn in history.

I wondered how the repubs would try to weasel out of the fact that the auto industries have made a huge comeback. I guess they will just try to rewrite history as usual.

evlbruce
05-08-2012, 15:48
There's the term "flip flopping" but the Romney campaign has finally broken it. We're entering the era of yo-yo policy.

Lethaltxn
05-08-2012, 16:02
Fastest U-turn in history.

I wondered how the repubs would try to weasel out of the fact that the auto industries have made a huge comeback. I guess they will just try to rewrite history as usual.

Before or after declaring bankruptcy?

Jonesee
05-08-2012, 16:37
I can't believe he said that with a straight face.

Alizard
05-08-2012, 18:03
Before or after declaring bankruptcy?Do you even have a clue about what actually happened? They had to declare bankruptcy to restructure their debts and break the labor contracts that had driven them into bankruptcy.

GM is again the #1 car maker IN THE WORLD, Ford and Chrysler are making profit by the barrels and the loans are being repaid.

Can't you just grit your teeth and admit that was a good thing?

The repubs were wrong on that one. If they had gotten their way, the auto industry would be one more industry we founded and then lost to the world.

frank4570
05-08-2012, 18:14
I can't believe he said that with a straight face.

I've seen an interview where he was caught in a straight-up lie. He became hostile, defensive and very confrontational.

Lethaltxn
05-08-2012, 18:15
Do you even have a clue about what actually happened? They had to declare bankruptcy to restructure their debts and break the labor contracts that had driven them into bankruptcy.

GM is again the #1 car maker IN THE WORLD, Ford and Chrysler are making profit by the barrels and the loans are being repaid.

Can't you just grit your teeth and admit that was a good thing?

The repubs were wrong on that one. If they had gotten their way, the auto industry would be one more industry we founded and then lost to the world.

But we had to bail them out so they wouldn't have to declare bankruptcy and ship those jobs elsewhere.

Alizard
05-08-2012, 18:32
But we had to bail them out so they wouldn't have to declare bankruptcy and ship those jobs elsewhere.
Dude, two of the three DID declare bankruptcy. That doesn't mean they quit, it means their debt is restructured and existing legal obligations can be re negotiated.

If they had not been given loans, they would have just failed and gone under. We would have lost hundreds of thousands of jobs and billions in revenue.




General Motors bankruptcy: End of an era - Jun. 1, 2009 (http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/)chrome://searchshield/content/safe.gif


money.cnn.com/2009/06/01/news/companies/​gm_​bankruptcy
Jun 02, 2009 According to GM's bankruptcy filing , the company has assets of $82.3 billion, and liabilities of $172.8 billion. That would make GM the fourth largest U.S ...




Chrysler Files to Seek Bankruptcy Protection (http://www.nytimes.com/2009/05/01/business/01auto.html?pagewanted=all)chrome://searchshield/content/safe.gifchrome://searchshield/content/vrsn-secured-lsfo.gif


www.nytimes.com/2009/05/01/business/​01auto.html (http://www.nytimes.com/2009/05/01/business/%E2%80%8B01auto.html)
Apr 30, 2009 President Obama forced Chrysler into federal bankruptcy protection on Thursday so it could pursue a lifesaving alliance with the Italian automaker Fiat.



The point is, the government's loans allowed the automakers to not only survive, but to pull back into world class again. There is nothing bad here except that repubs can't admit it happened without slinging manure on it because they all opposed it.




General Motors is world's sales leader - Los Angeles Times (http://articles.latimes.com/2012/jan/19/business/la-fi-mo-gm-global-sales-20120119)chrome://searchshield/content/safe.gif


articles.latimes.com/2012/jan/19/business/​la-fi-mo-gm-global-sales...
... than two years after emerging from bankruptcy, General Motors Co. has regained its spot as the world ... GM is again the world's largest automaker January 20, 2012





Fiat-Chrysler Profit Targets Beat Forecasts as U.S. Market Stages ... (http://wallstcheatsheet.com/stocks/fiat-chrysler-profit-targets-beat-forecasts-as-u-s-market-stages-recovery.html/)chrome://searchshield/content/safe.gif


wallstcheatsheet.com/stocks/​fiat-chrysler-profit...u-s...recovery.html
Fiat-Chrysler shares rallied after the automaker announced lower 2012 profit targets that were still better than expected.






Another Sign of Recovery: Ford To Post $1 Billion Profit ... (http://www.autoobserver.com/2010/04/another-sign-of-recovery-ford-to-post-1-billion-profit.html)chrome://searchshield/content/safe.gif


www.autoobserver.com/​...of-recovery-ford-to-post-1-billion-profit.html
In yet another sign that the U.S. auto industry is righting itself, Ford Motor Co. is expected to announce a profit of $1 billion or better on Tuesday. Ford's profit ...

Lethaltxn
05-09-2012, 11:26
Dude, two of the three DID declare bankruptcy. That doesn't mean they quit, it means their debt is restructured and existing legal obligations can be re negotiated.

If they had not been given loans, they would have just failed and gone under. We would have lost hundreds of thousands of jobs and billions in revenue.





The point is, the government's loans allowed the automakers to not only survive, but to pull back into world class again. There is nothing bad here except that repubs can't admit it happened without slinging manure on it because they all opposed it.

I'm well aware dude. My post was sarcastic. Your assertion is false and shows an ignorance of how bankruptcy works. They didn't require our money to declare bankruptcy or to stay afloat after.

The point is we were told that, but for the government's intervention, these companies would have to declare bankruptcy resulting in the loss of jobs. We gave them the cash, which went mostly into union boss's pockets, and they still declared bankruptcy. In turn these companies screwed over share holders.

Also, I don't believe Ford took any bailout cash. I could be wrong on that, but I think I'm right.

Alizard
05-09-2012, 13:10
I'm well aware dude. My post was sarcastic. Your assertion is false and shows an ignorance of how bankruptcy works. They didn't require our money to declare bankruptcy or to stay afloat after.

They did not require a loan to declare bankruptcy, but they had absolutely no chance of surviving without a loan.









The point is we were told that, but for the government's intervention, these companies would have to declare bankruptcy resulting in the loss of jobs. We gave them the cash, which went mostly into union boss's pockets, and they still declared bankruptcy. In turn these companies screwed over share holders.

Facts are stubborn things, you should look at them some time.

OK, you hate Obama so much you have to create a scenario where the comeback of US auto is somehow a giant conspiracy. That pretty much tells me all I need to know. Have a nice day.

Alizard
05-09-2012, 13:16
Also, I don't believe Ford took any bailout cash. I could be wrong on that, but I think I'm right.

Ford Motor Co. Does U-turn on Bailouts

Posted on September 20, 2011
http://cache.addthis.com/cachefly/static/btn/v2/lg-share-en.gif (http://addthis.com/bookmark.php?v=250)
A Ford TV ad slams competitors for accepting bailout funds, even though the company’s CEO lobbied for the bill. The company — the only one of the Big Three not to receive a bailout — feared a collapse of GM and Chrysler at the time would have hurt suppliers and, in turn, Ford itself. Ford Chief Executive Officer Alan R. Mulally also asked Congress for a “credit line” of up to $9 billion in case the economy worsened.
In other words, Ford was for government bailouts before it was against them.
http://factcheck.org/2011/09/ford-motor-co-does-u-turn-on-bailouts/






Ford Looks Hypocritical In New Anti-Bailout Commercial




But wait a minute. OK, Ford didn’t file bankruptcy or get bailed out by Uncle Sam, but didn’t it receive $5.9 billion in low-cost government loans in 2009 to overhaul its factories and bring out more fuel-efficient technology? What would have happened to Ford if Congress hadn’t authorized taxpayer money to fund that $25 billion Energy Department program during a moment of crisis for the industry?http://www.forbes.com/sites/joannmuller/2011/09/19/ford-looks-hypocritical-in-new-anti-bailout-commercial/




the MSM has been all about Ford being the only domestic not to receive a federal bailout. And now we hear that The Blue Oval Boys have landed a $5.9 billion dollar retooling loan from the Department of Energy. As expected. “Our business plan assumed about the amount we got,” FoMoCo CEO Alan Mulally told Reuters. “It’s very consistent with our plan.” Automotive News (http://www.autonews.com/article/20090626/ANA02/306269957/1186) [sub] reports that Ford. Wants. More.
Mulally said Ford could be in line for more funding from the Energy Department program. The agency has $17 billion in additional funding for loans to auto companies and congressional allies of the auto industry are backing efforts to allocate another $25 billion.
A greenhouse emissions bill pending in Congress would double that amount to $50 billion. [Story coming.] Ford’s original total request was $11 billion.
Let’s review: Under the terms of the loans, Ford can use the $5.1 billion to pay for up to 80 percent of the cost of retooling an American plant to build vehicles that are at least 25 percent more efficient (http://www.thetruthaboutcars.com/2009/06/ford-loves-them-some-federal-loans-expecting-another-51b-doe-loan/#) than the ones that were previous assembled at the facility. We’re talking about a 25-year loan. The interest rate: four percent. That particular piece of taxpayer generosity saves Ford a projected $100 million per $1 billion borrowed (compared with normal market rates, which they probably couldn’t get). Oh, and the DOE can make that a zero percent interest deal for the first three years, if need be.

Lethaltxn
05-09-2012, 13:21
They did not require a loan to declare bankruptcy, but they had absolutely no chance of surviving without a loan.


Horse apples. That is completely false.



Facts are stubborn things, you should look at them some time.

OK, you hate Obama so much you have to create a scenario where the comeback of US auto is somehow a giant conspiracy. That pretty much tells me all I need to know. Have a nice day.

Please, enlighten me.

Lethaltxn
05-09-2012, 13:23
http://factcheck.org/2011/09/ford-motor-co-does-u-turn-on-bailouts/




http://www.forbes.com/sites/joannmuller/2011/09/19/ford-looks-hypocritical-in-new-anti-bailout-commercial/

So they weren't bailed out then?

Alizard
05-09-2012, 13:26
I don't waste time arguing with a closed (delusional) mind.

You ask if Ford was "bailed out" when I posted proof they got low interest government loans. You just tap dance with semantics on "bailout".

Not my job to educate you, I posted the facts. Just keep warming yourself with your pathological hatred of all things Obama and keep watching out for all the conspiracies. safeway has a sale on tinfoil.....

Lethaltxn
05-09-2012, 13:31
I love living inside libs head, for free. :supergrin:

Lethaltxn
05-09-2012, 13:33
I don't waste time arguing with a closed (delusional) mind.

You ask if Ford was "bailed out" when I posted proof they got low interest government loans. You just tap dance with semantics on "bailout".

Not my job to educate you, I posted the facts. Just keep warming yourself with your pathological hatred of all things Obama and keep watching out for all the conspiracies. safeway has a sale on tinfoil.....

You assume a lot.

Oh, and you never addressed, factually, why the others needed our money instead of just filing for bankruptcy and restructuring like any other company would.