Tag Archives: auto bailout

Obama outsources auto industry jobs

While Obama continues along the campaign trail praising himself for the auto bailout, “Coming hot on the heels of speculation that some Jeep production may be moved to China comes a bombshell from a Bloomberg report. Fiat is now considering moving Chrysler and Jeep production to Italy.”

Update: The hilariously named “politifact.com” announced that its “Lie of the Year” was Mitt Romney’s campaign statement that Jeep was moving its U.S. production to China.  Well, now it’s been confirmed: “Fiat… and its U.S. unit Chrysler expect to roll out at least 100,000 Jeeps in China when production starts in 2014.”

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Oops, GM is losing $49,000 on every Chevy Volt that it builds.

This is nothing to brag about, Obama.

Government takeover of GM

“The Obama administration talks up all of the “jobs” it saved at GM — but jobs doing what? Manufacturing automobiles that are not competitive without a massive government subsidy? Propping up an economically unviable enterprise just long enough to get Barack Obama reelected?”

Auto Bailouts and Union Priority

Chrysler and GM bailouts cost taxpayers billions of dollars, and then Obama violates the rule of law by unfairly giving Union members priority over other creditors.

Obama’s thug-like ruthlessness

“A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.”