As I watch the coverage of the fate of the U.S. auto industry, one alarming andfrustrating fact hits me right between the eyes. The fate of our nation'seconomic survival is in the hands of some congressmen who are completely out oftouch and act without knowledge of an industry that affects almost every personin our nation. The same lack of knowledge is shared with many journalists whomare irresponsible when influencing the opinion of millions of viewers. Sen. Rich ard Shelby of Alabama has doomed the industry, calling it a dinosaur. No Mr. Shelby, you are the dinosaur, with ideas stuck in the '70s, '80sand '90s. You and the uninformed journalist and senators that hold ontomyths that are not relevant in today's world. When you say that the Big Three build vehicles nobody wants to buy, you musthave overlooked that GM outsold Toyota by about 1.2 million vehicles in the U.S.and Ford outsold Honda by 850,000 and Nissan by 1.2 million in the U.S. GM wasthe world's No. 1 automaker beating Toyota by 3,000 units.
When you claim inferior quality comes from the Big Three, did you realize that Chevy makes the Malibu and Ford makes the Fusion that were both rated over the Camry and Accord by J.D. Power independent survey on initial quality? Did youbother to read the Consumer Report that rated Ford on par with good Japaneseautomakers. Did you realize Big Three's gas guzzlers include the 33 mpg Malibu thatbeats the Accord. And for '09 Ford introduces the Hybrid Fusion whose 39 mpgis the best midsize, beating the Camry Hybrid. Ford's Focus beats the Corolla and Chevy's Cobalt beats the Civic.
When you ask how many times are we going to bail them out you must be referring to 1980. The only Big Three bailout was Chrysler, who paid back $1 billion, plus interest. GM and Ford have never received government aid.
When you criticize the Big Three for building so many pickups, surely you've noticed the attempts Toyota and Nissan have made spending billions totry to get a piece of that pie. Perhaps it bothers you that for 31 straightyears Ford's F-Series has been the best selling vehicle. Ford and GM have dominated this market and when you see the new '09 F-150 you'll agreethis won't change soon. Did you realize that both GM and Ford offer more hybrid models than Nissan orHonda. Between 2005 and 2007, Ford alone has invested more than $22 billion inresearch and development of technologies such as Eco Boost, flex fuel, cleandiesel, hybrids, plug in hybrids and hydrogen cars.
It's 2008 and the quality of the vehicles coming out of Detroit are once again the best in the world. Perhaps Sen. Shelby isn't really that blind. Maybe he realizes the quality shift to American. Maybe it's the fact that his state of Alabama has givenso much to land factories from Honda, Hyundai and Mercedes Benz that he is more concerned about their continued growth than he is about the people of ourcountry. Sen. Shelby's disdain for "government subsidies" is veryhypocritical. In the early '90s he was the driving force behind a $253million incentive package to Mercedes. Plus, Alabama agreed to purchase 2,500vehicles from Mercedes.
While the bridge loan the Big Three is requesting willbe paid back, Alabama 's $180,000-plus per job was pure incentive. Sen.Shelby, not only are you out of touch, you are a self-serving hypocrite, who isprepared to ruin our nation because of lack of knowledge and lack of duediligence in making your opinions and decisions.
After 9/11, the Detroit Three and Harley Davidson gave $40 million-plus emergency vehicles to the recovery efforts. What was given to the 9/11 relief effort by the Asian and European Auto Manufactures? $0 Nada. Zip!
We live in a world of free trade, world economy and we have not been able toproduce products as cost efficiently. While the governments of other autoproducing nations subsidize their automakers, our government may be ready to force its demise. While our automakers have paid union wages, benefits andlegacy debt, our Asian competitors employ cheap labor. We are at an extreme disadvantage in production cost. Although many UAW concessions begin in 2010,many lawmakers think it's not enough. Some point the blame to corporate management. I would like to speak of Ford Motor Co. The company has streamlined by reducing our workforce by 51,000 since2005, closing 17 plants and cutting expenses. Product and future product isexcellent and the company is focused on one Ford. This is a company poised forsuccess. Ford product quality and corporate management have improved light yearssince the nightmare of Jacques Nasser.
Thank you Alan Mulally and the best autocompany management team in the business. The financial collapse caused by the secondary mortgage fiasco and the greed of Wall Street has led to a $700 billion bailout of the industry that created theproblem. AIG spent nearly $1 million on three company excursions to lavishresorts and hunting destinations.
Paulson is saying no to $250 billion foreclosure relief and the whole thing is a mess. So when the Big Three ask for4 percent of that of the $700 billion, $25 billion to save the country'slargest industry, there is obviously oppositions. But does it make sense to reward the culprits of the problem with $700 billion unconditionally, and ignore the victims?
As a Ford dealer, I feel our portion of the $25 billion will never be touched and is not necessary. Ford currently has $29 billion of liquidity. However, theeffect of a bankruptcy by GM will hurt the suppliers we all do business with. A Chapter 11 bankruptcy by any manufacture would cost retirees their health careand retirements. Chances are GM would recover from Chapter 11 with a betterbusiness plan with much less expense. So who foots the bill if GM or all threego Chapter 11? All that extra health care, unemployment, loss of tax base andsome forgiven debt goes back to the taxpayer, us. With no chance of repayment,this would be much worse than a loan with the intent of repayment. So while it is debatable whether a loan or Chapter 11 is better for the Big Three, a $25 billion loan is definitely better for the taxpayers and the economy of our country.
So I'll end where I began on the quality of the products of Detroit . Before you, Mr. or Ms. Journalist continue to misinform the American public and turn them against one of the great industries that helped build this nation, I must ask you one question. Before you, Mr. or Madam Congressman vote to end health care and retirement benefits for 1 million retirees, eliminate 2.5million of our nation's jobs, lose the technology that will lead us in thefuture and create an economic disaster including hundreds of billions of tax dollars lost, I ask this question not in the rhetorical sense. I ask it in thesincere, literal way. Can you tell me, have you driven a Ford lately?
Jim Jackson Elkins
When you claim inferior quality comes from the Big Three, did you realize that Chevy makes the Malibu and Ford makes the Fusion that were both rated over the Camry and Accord by J.D. Power independent survey on initial quality? Did youbother to read the Consumer Report that rated Ford on par with good Japaneseautomakers. Did you realize Big Three's gas guzzlers include the 33 mpg Malibu thatbeats the Accord. And for '09 Ford introduces the Hybrid Fusion whose 39 mpgis the best midsize, beating the Camry Hybrid. Ford's Focus beats the Corolla and Chevy's Cobalt beats the Civic.
When you ask how many times are we going to bail them out you must be referring to 1980. The only Big Three bailout was Chrysler, who paid back $1 billion, plus interest. GM and Ford have never received government aid.
When you criticize the Big Three for building so many pickups, surely you've noticed the attempts Toyota and Nissan have made spending billions totry to get a piece of that pie. Perhaps it bothers you that for 31 straightyears Ford's F-Series has been the best selling vehicle. Ford and GM have dominated this market and when you see the new '09 F-150 you'll agreethis won't change soon. Did you realize that both GM and Ford offer more hybrid models than Nissan orHonda. Between 2005 and 2007, Ford alone has invested more than $22 billion inresearch and development of technologies such as Eco Boost, flex fuel, cleandiesel, hybrids, plug in hybrids and hydrogen cars.
It's 2008 and the quality of the vehicles coming out of Detroit are once again the best in the world. Perhaps Sen. Shelby isn't really that blind. Maybe he realizes the quality shift to American. Maybe it's the fact that his state of Alabama has givenso much to land factories from Honda, Hyundai and Mercedes Benz that he is more concerned about their continued growth than he is about the people of ourcountry. Sen. Shelby's disdain for "government subsidies" is veryhypocritical. In the early '90s he was the driving force behind a $253million incentive package to Mercedes. Plus, Alabama agreed to purchase 2,500vehicles from Mercedes.
While the bridge loan the Big Three is requesting willbe paid back, Alabama 's $180,000-plus per job was pure incentive. Sen.Shelby, not only are you out of touch, you are a self-serving hypocrite, who isprepared to ruin our nation because of lack of knowledge and lack of duediligence in making your opinions and decisions.
After 9/11, the Detroit Three and Harley Davidson gave $40 million-plus emergency vehicles to the recovery efforts. What was given to the 9/11 relief effort by the Asian and European Auto Manufactures? $0 Nada. Zip!
We live in a world of free trade, world economy and we have not been able toproduce products as cost efficiently. While the governments of other autoproducing nations subsidize their automakers, our government may be ready to force its demise. While our automakers have paid union wages, benefits andlegacy debt, our Asian competitors employ cheap labor. We are at an extreme disadvantage in production cost. Although many UAW concessions begin in 2010,many lawmakers think it's not enough. Some point the blame to corporate management. I would like to speak of Ford Motor Co. The company has streamlined by reducing our workforce by 51,000 since2005, closing 17 plants and cutting expenses. Product and future product isexcellent and the company is focused on one Ford. This is a company poised forsuccess. Ford product quality and corporate management have improved light yearssince the nightmare of Jacques Nasser.
Thank you Alan Mulally and the best autocompany management team in the business. The financial collapse caused by the secondary mortgage fiasco and the greed of Wall Street has led to a $700 billion bailout of the industry that created theproblem. AIG spent nearly $1 million on three company excursions to lavishresorts and hunting destinations.
Paulson is saying no to $250 billion foreclosure relief and the whole thing is a mess. So when the Big Three ask for4 percent of that of the $700 billion, $25 billion to save the country'slargest industry, there is obviously oppositions. But does it make sense to reward the culprits of the problem with $700 billion unconditionally, and ignore the victims?
As a Ford dealer, I feel our portion of the $25 billion will never be touched and is not necessary. Ford currently has $29 billion of liquidity. However, theeffect of a bankruptcy by GM will hurt the suppliers we all do business with. A Chapter 11 bankruptcy by any manufacture would cost retirees their health careand retirements. Chances are GM would recover from Chapter 11 with a betterbusiness plan with much less expense. So who foots the bill if GM or all threego Chapter 11? All that extra health care, unemployment, loss of tax base andsome forgiven debt goes back to the taxpayer, us. With no chance of repayment,this would be much worse than a loan with the intent of repayment. So while it is debatable whether a loan or Chapter 11 is better for the Big Three, a $25 billion loan is definitely better for the taxpayers and the economy of our country.
So I'll end where I began on the quality of the products of Detroit . Before you, Mr. or Ms. Journalist continue to misinform the American public and turn them against one of the great industries that helped build this nation, I must ask you one question. Before you, Mr. or Madam Congressman vote to end health care and retirement benefits for 1 million retirees, eliminate 2.5million of our nation's jobs, lose the technology that will lead us in thefuture and create an economic disaster including hundreds of billions of tax dollars lost, I ask this question not in the rhetorical sense. I ask it in thesincere, literal way. Can you tell me, have you driven a Ford lately?
Jim Jackson Elkins
Comments
Very cute pics of O with Santa! LOL! I seriously doubt we could ever get Lyra to sit in Santa's lap. She does NOT like things like that. She is my little shadow. Right now, she is jumping on my chair waiting to make Christmas cookies so gotta run.
Loved your post on the real mom. I have lost so many kitchen utensils to the sandbox it's unbelievable. And my oven hasn't been cleaned out in 2 years.