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Edited Date/Time
10/31/2012 7:36pm
Unions losing GAIN!!! Romney is right
P
How does that happen?
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Not a mention of this BS. That news was 9 hrs ago.
Until some legitimate news source says otherwise, I'll call BS
Based on a news story by Bloomberg, Romney's take was misleading enough for Jeep to issue a clarification on its website.
"Let's set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China," wrote Gualberto Ranieri, Jeep's senior vice president of corporate communications.
"It's simply reviewing the opportunities to return Jeep output to China for the world's largest auto market. U.S. Jeep assembly lines will continue to stay in operation. A careful and unbiased reading of the Bloomberg take would have saved unnecessary fantasies and extravagant comments."
Chrysler has been shaky for years since it was bailed out back in the '80s.
"To counter the severe slump in European sales, Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said. "
I read that carefully several times and it says nothing about China.
http://www.businessweek.com/news/2012-10-28/marchionne-seen-missing-fia…
That reason is to maintain control and stay profitable.
Romnified: /ˈRomniˌfīd/
Adjective: The common occurrence of the Liberal Media and the silly people who believe them to declare a statement by Mitt Romney a lie that is shortly demonstrated or proven to be just, right, or valid:
“I saw a story today that one of the great manufacturers in this state, Jeep, now owned by the Italians, is thinking of moving all production to China,” Romney said during a rally in Defiance, Ohio, before 12,000 cheering supporters, according to several reports. “I will fight for every good job in America, I’m going to fight to make sure trade is fair, and if it’s fair, America will win.”
Romney apparently was referencing conservative bloggers who misrepresented a Bloomberg story from Monday that discussed Chrysler’s decision to consider starting Jeep production in China, the world’s largest new-vehicle market.
..........................
In fact, Chrysler is investing $500 million at its Toledo North Assembly Plant and plans to add 1,105 new workers by the third quarter of 2013 to build an all-new SUV that will replace the Jeep Liberty.
Production of the new SUV will begin next summer and the hiring process for the new workers, who are scheduled to start by the next fall, has begun, said Chrysler spokeswoman Jodi Tinson.
Romney’s comments were immediately skewered by auto industry observers and Romney’s political opponents because Chrysler added about 7,000 workers in the U.S. and Canada since emerging from Chapter 11 bankruptcy in 2009.
The company is planning to add about 900 workers at its pickup plant in Warren by March.
Detroit Free Press
Pit Row
Says Barack Obama "sold Chrysler to Italians who are going to build Jeeps in China" at the cost of American jobs.
Here is what Romney said:
"I saw a story today that one of the great manufacturers in this state, Jeep, now owned by the Italians, is thinking of moving all production to China."
Here is the article.
http://www.bloomberg.com/news/2012-10-21/fiat-says-china-may-build-all-jeep-models-as-suv-demand-climbs.html
Fiat SpA (F), majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region.
Fiat is in “very detailed conversations” with its Chinese partner, Guangzhou Automobile Group Co. (2238), about making Jeeps in the world’s largest auto market, said Mike Manley, chief operating officer of Fiat and Chrysler in Asia. Chrysler hasn’t built Jeeps there since before Fiat took control in 2009.
You are indeed a stupid man.
Without the government stepping in, it would have been nearly impossible for private financing to be found on a large enough scale to rescue GM and Chrysler.
If GM had gone through a "managed" bankruptcy, as suggested by Romney, they would have come out of it in far better shape than they are now. You ever see those big silver things taking off at the airport..........yeah those airplanes........most of the large carriers have gone through bankruptcy, look up in the sky.......they're still flying.
"The banks were even more broke than we were. Who had the money?" he told the Detroit Free Press in February. "Loan guarantees don't do any good if the banks don't have any money."
Without financing, both companies would have had to close. And even if they had survived, they could be struggling today rather than reporting record profits and strong sales. Many of their suppliers would have also been forced to shut down, and that could have caused bankruptcies at other automakers such as Ford Motor (F, Fortune 500), which would have been unable to build cars without their supplier base.
Lutz said Tuesday that the government was the only one willing to give GM most of the help it needed in return for stock in the company, rather than heaping on more debt that it couldn't afford. Even the Obama administration was reluctant to do that, Lutz said. But it was the only way a healthy GM could emerge from bankruptcy.
"Why perpetuate the problem with $53 billion of new debt, at an annual interest cost of, say, $3 billion?," Lutz said. Private financing would have left GM with "enough debt to wreck the future of a recovering GM."
from CNN
“Look, I got five boys. I’m used to people saying something that’s not always true, but just keep on repeating it and ultimately hoping I will believe it.”
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