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The Auto Industry Bailout and Mitt Romney
01/06/2008
Mitt Romney opposed the auto industry bailout. An article by Romney with the title "Let Detroit Go Bankrupt," appeared in the New York Times at the time of the bailout. Auto executive Bob Lutz says he was profoundly disappointed by Romeny's position, as the situation was at a point where government loans were necessary. Auto executives see the vindication of their position in the recovery of Chrysler, GM and Ford Motor. In a bit of irony Romney, who is from Michigan, announced his candidacy for the 2008 presidential election at the Ford Museum in Dearborn. GM and Chrysler went into bankruptcy, but this was a planned bankruptcy, with the support of the U.S. government and a pathway set with loans and conditions so that would lead to eventual recovery. The fear was that a chaotic bankruptcy process would permanently impair the American auto manufacturing industry- and the planned bankruptcy with government conditions and loans was meant to avert this and still allow shedding or restructuring of burdensome obligations- as this way buyers would still have confidence to buy automobiles from GM and Chrysler. Auto executives point out that the private markets had already shut out GM and Chrysler from financing. Retired GE executive supported a planned bankruptcy with government help, because of the importance of the auto industry to the U.S. economy, in the Nov. 18, 2008 issue of Business Week.
Grouped Articles
Cost of Bailouts Continues to Decline
Wall Street Journal 05.10.2013
New York Times 12.27.2011
U.S. Remaining Stake in General Motors
Wall Street Journal 12.10.2013
U.S. Car-Making Boom? Not for Auto-Industry Workers
Wall Street Journal 03.24.2015
Bailout Stand Trails Romney in Car Country
New York Times 02.19.2012
Dow Chemical's CEO on How to Revive Manufacturing
Wall Street Journal 02.23.2012
Michigan ‘Prayer Station’ volunteers are doubting Thomases, politically - The Washington Post
Washington Post 02.28.2012
Mitt Romney's Box of Kryptonite
BusinessWeek 02.23.2012
Wall Street Journal 04.15.2012
Romney holds key advantages among financially struggling white voters - The Washington Post
Washington Post 05.25.2012
In Turnabout, Chrysler Profit Offsets Fiat Loss
Wall Street Journal 07.31.2012
New York Times 07.30.2012
Ohio economy improving, but residents can’t feel it - The Washington Post
Washington Post 08.08.2012
'Better Off?' Theme Framing Election
Wall Street Journal 08.08.2012
Wall Street Journal 08.20.2012
Mitt Romney: What I Learned at Bain Capital
Wall Street Journal 08.24.2012
Romney Plans New Focus on Swing States
Wall Street Journal 09.20.2012
Headwinds for Romney in Latest Poll Results
Wall Street Journal 09.21.2012
Edward Niedermeyer: Romney's Plan Would Also Have 'Saved' Detroit
Wall Street Journal 11.03.2012
Real Progress, But We're Not Done
Wall Street Journal 11.02.2012
Mitt Romney: A New Direction For America
Wall Street Journal 11.02.2012
In Ohio, 2 Campaigns Offer a Study in Contrasts
New York Times 11.03.2012
The Vanishing Electoral Battleground
New York Times 11.03.2012
Mitt Romney, as a leader in Mormon church, became a master of many keys - The Washington Post
Washington Post 08.20.2012
Big Bet Six Months Ago Paved Way for President
Wall Street Journal 11.07.2012
Wall Street Journal 11.07.2012
Andrew Kohut: Misreading Election 2012
Wall Street Journal 11.13.2012
Mitt Romney: A good man. The right fight. - The Washington Post
Washington Post 11.29.2012
Why Apple Got a 'Made in USA' Bug
New York Times 12.07.2012
New Thirst for Urban Living in Detroit Leaves Few Rentals
New York Times 12.11.2012
Wall Street Journal 01.19.2011
Ford's EcoBoost Engine Excites Marketer
New York Times 01.06.2008
U.S. Manufacturing Decline Raises Concern About Innovation
New York Times 02.12.2011
New York Times 03.20.2013
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