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The Union Bailout

WhiteHatBobby Wrote: Jun 24, 2012 7:23 AM

Things not mentioned, but should be mentioned are Ford's switch from self-sufficient to using other firms' lines. Most of Ford's current auto line uses Mazda chassis and engines, Geely (China) chassis (Taurus, Explorer), and General Motors transmissions (joint venture), while taking $5.9 billion in government money. The political contributions by the Big Three CEO's in 2008 also comes in play: General Motors' Rick Wagoner and Chrysler's Bob Nardelli gave $2,100 and $2,300, respectively (Mr. Nardelli's wife also gave $2,300) to Mr. Romney's campaign; Ford's Alan Mulally did not give. This was a political witch-hunt also, in addition to the Democrats pushing for tiny and electric cars. Perfect Cloward-Piven strategy.

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Frank391 Wrote: Jun 24, 2012 7:50 AM

Ford got zero government money

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loadstar Wrote: Jun 24, 2012 9:11 AM

Yeah, "WhiteHatBobby" sounds like a union man to be sure...EVERY old-line U.S. carmaker is sourcing worldwide-- this is dissembling and dodging to try to cover for the UAW...tiny contributions to Romney by execs are a silly diversion.

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The Union Bailout

We all know how the Obama administration likes to portray the auto bailout: A generous infusion of money enabled the government to save General Motors and Chrysler. Jobs that would otherwise have disappeared were rescued by this taxpayer-funded largesse. It was expensive, but we had no choice.

The reality is far less uplifting: Administration officials could have ensured that the bailout didn’t cost you and me a dime. All they had to do was require the United Auto Workers to accept standard bankruptcy concessions. Instead, the UAW got special treatment.

Subsidizing the UAW’s above-market pay and benefits...

Related Tags: Bailout Chrysler General Motors auto bailouts Ford President Barack Obama