December 09, 2008
The Windbag Responds
I'll give Senator "Friend of Angelo" Dodd credit for one thing. He is quick with a form letter response. I don't think I can give him credit for any meaningful content.
The Chief Begging Officers of Detroit have said that bankruptcy is not an option because people will not buy cars from companies in Chapter 11. I would have respected the decision by any one of the automakers to go through the bankruptcy process and fix their problems and it would have probably made me more likely to buy one of their cars in the future. However, having made the decision to beg taxpayer relief from their failure has assured that I will NEVER buy a Ford, Chrysler, or GM product.
Dear Mr. Macklin:
Thank you for contacting me with regard to a Federal financial assistance package for the United States automotive industry. I appreciate hearing from you on this important issue.
The automotive industry has long been an important sector of our economy. Over 25,775 people in the state of Connecticut are employed in either the manufacture or sale of motor vehicles. Nationwide, it is estimated that over 3 million jobs are dependent upon the industry. As you may be aware, the financial situation faced by domestic auto manufacturers-Ford, General Motors, and Chrysler-is serious, and they have requested that funds from the recently passed Emergency Economic Stabilization Act or from another federal source be made available to help them continue operations.
On November 18, 2008 the Senate Committee on Banking, Housing and Urban Affairs, of which I am Chairman, heard testimony from the heads of these companies regarding this issue. While I am sympathetic to the needs of the industry and the urgency of their situation, I believe that the American people need to be assured that any federal money granted to these companies be used to implement a business plan that will ensure long-term viability for the industry. For this reason, Congress has asked these companies to furnish detailed plans as to how any funds given to them would be used prior to taking any action. Please be assured that I will keep your views in mind in the coming days as these plans are submitted for Congressional review.
Thank you again for contacting me. If you would like to stay in touch with me on this, or other issues of importance, please visit my website at http://dodd.senate.gov and sign up to receive my regular e-mail issue alerts. If you would like more information on my actions as Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, or on this or issues before the Committee, please visit our website at http://banking.senate.gov. Please do not hesitate to contact me again if I may be of assistance in any way.
Sincerely,
CHRISTOPHER J. DODD
United States Senator
Senator, it doesn't really matter how a big a number you put in front of the sob
story. No job is guaranteed. No success is guaranteed. Companies that
cannot compete fail.Thank you for contacting me with regard to a Federal financial assistance package for the United States automotive industry. I appreciate hearing from you on this important issue.
The automotive industry has long been an important sector of our economy. Over 25,775 people in the state of Connecticut are employed in either the manufacture or sale of motor vehicles. Nationwide, it is estimated that over 3 million jobs are dependent upon the industry. As you may be aware, the financial situation faced by domestic auto manufacturers-Ford, General Motors, and Chrysler-is serious, and they have requested that funds from the recently passed Emergency Economic Stabilization Act or from another federal source be made available to help them continue operations.
On November 18, 2008 the Senate Committee on Banking, Housing and Urban Affairs, of which I am Chairman, heard testimony from the heads of these companies regarding this issue. While I am sympathetic to the needs of the industry and the urgency of their situation, I believe that the American people need to be assured that any federal money granted to these companies be used to implement a business plan that will ensure long-term viability for the industry. For this reason, Congress has asked these companies to furnish detailed plans as to how any funds given to them would be used prior to taking any action. Please be assured that I will keep your views in mind in the coming days as these plans are submitted for Congressional review.
Thank you again for contacting me. If you would like to stay in touch with me on this, or other issues of importance, please visit my website at http://dodd.senate.gov and sign up to receive my regular e-mail issue alerts. If you would like more information on my actions as Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, or on this or issues before the Committee, please visit our website at http://banking.senate.gov. Please do not hesitate to contact me again if I may be of assistance in any way.
Sincerely,
CHRISTOPHER J. DODD
United States Senator
The Chief Begging Officers of Detroit have said that bankruptcy is not an option because people will not buy cars from companies in Chapter 11. I would have respected the decision by any one of the automakers to go through the bankruptcy process and fix their problems and it would have probably made me more likely to buy one of their cars in the future. However, having made the decision to beg taxpayer relief from their failure has assured that I will NEVER buy a Ford, Chrysler, or GM product.
Posted by: Stephen Macklin at 09:48 AM | Comments (1) | Add Comment
1
The Big 3 will continue to put out marginally acceptable products at premium prices and then beg forgiveness from the public for doing such a poor job when compared with non-union auto makers. I wonder if part of the problem might be the unions?
Posted by: T F Stern at December 09, 2008 12:04 PM (Ruh11)
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