GM's Return May Help Obama in Midwest

[Scurrilous]

<snip>

"Playing defense on the economy, President Barack Obama may have found a potent "I told you so" argument in the rescue of General Motors. But will he get any credit for it?

Obama visits a Chrysler plant in Kokomo, Ind., on Tuesday with Vice President Joe Biden, reprising similar trips he made last summer to GM, Ford and Chrysler plants in Michigan and Illinois. His stewardship of the auto bailout — begun under President George W. Bush in the waning days of his term — could weigh heavily on the minds of voters throughout the industrial Midwest. Obama picked up key electoral votes there in 2008 but recently watched states like Michigan and Ohio elect Republican governors and members of Congress.

General Motors launched one of the largest initial public offerings in U.S. history last week, more than a year after it was pushed into bankruptcy by the Obama administration at a taxpayer cost of about $50 billion. The rescue of GM and Chrysler was roundly criticized by many Republicans and tea party candidates who said the government should not have intervened to save the carmakers.

"Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability?" asked House Republican Leader John Boehner of Ohio when GM filed for bankruptcy in June 2009.

GM might prove Boehner wrong, giving Obama a stronger hand in the debate over how the government handled the auto meltdown. The bailout still remains unpopular with many Americans — and the futures of GM and Chrysler are far from certain — but GM's return to the New York Stock Exchange and an expected IPO from Chrysler in 2011 could give Democrats a vivid example of economic recovery."

http://www.tnj.com/news/business/gms-ret...ma-midwest

[SemiCharmedQuark]

(12-05-2010 02:55 PM)Scurrilous Wrote:  <snip>

"Playing defense on the economy, President Barack Obama may have found a potent "I told you so" argument in the rescue of General Motors. But will he get any credit for it?

Obama visits a Chrysler plant in Kokomo, Ind., on Tuesday with Vice President Joe Biden, reprising similar trips he made last summer to GM, Ford and Chrysler plants in Michigan and Illinois. His stewardship of the auto bailout — begun under President George W. Bush in the waning days of his term — could weigh heavily on the minds of voters throughout the industrial Midwest. Obama picked up key electoral votes there in 2008 but recently watched states like Michigan and Ohio elect Republican governors and members of Congress.

General Motors launched one of the largest initial public offerings in U.S. history last week, more than a year after it was pushed into bankruptcy by the Obama administration at a taxpayer cost of about $50 billion. The rescue of GM and Chrysler was roundly criticized by many Republicans and tea party candidates who said the government should not have intervened to save the carmakers.

"Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability?" asked House Republican Leader John Boehner of Ohio when GM filed for bankruptcy in June 2009.

GM might prove Boehner wrong, giving Obama a stronger hand in the debate over how the government handled the auto meltdown. The bailout still remains unpopular with many Americans — and the futures of GM and Chrysler are far from certain — but GM's return to the New York Stock Exchange and an expected IPO from Chrysler in 2011 could give Democrats a vivid example of economic recovery."

http://www.tnj.com/news/business/gms-ret...ma-midwest

You guys know I love Obama, but he screwed the auto unions on this one. He should have created better conditions for them. If we don't have the unions, we don't win elections.

[Joan Ruaiz]

(12-05-2010 03:06 PM)SemiCharmedQuark Wrote:  You guys know I love Obama, but he screwed the auto unions on this one. He should have created better conditions for them. If we don't have the unions, we don't win elections.

I can't blame the President for anything, beyond saving the Auto Industry, period.
Giving credit for the positive is important, and doesn't happen often enough. Concentrating on what wasn't done is not as constructive as emphasizing what was.

Some were advocating loudly that the President let the Auto Industry fail. Had he done that, then I'd have a bone to pick with him.

[SeattleGirl]

(12-05-2010 03:06 PM)SemiCharmedQuark Wrote:  You guys know I love Obama, but he screwed the auto unions on this one. He should have created better conditions for them. If we don't have the unions, we don't win elections.

How specifically did he screw the auto unions? Had he not done anything, the people in those unions wouldn't have jobs. How would that have worked out for them?

[SemiCharmedQuark]

(12-05-2010 03:35 PM)SeattleGirl Wrote:  

(12-05-2010 03:06 PM)SemiCharmedQuark Wrote:  You guys know I love Obama, but he screwed the auto unions on this one. He should have created better conditions for them. If we don't have the unions, we don't win elections.

How specifically did he screw the auto unions? Had he not done anything, the people in those unions wouldn't have jobs. How would that have worked out for them?

He didn't. It was one of my troll posts from earlier. Tactic 345:vague claims that. Can be defended with accusations of hating unions

[spazito]

Bailing out the auto industry was a supersmart decision, imo. It was the right thing to do given all the jobs at risk if the industry failed and the auto industry is actually one big thing the US exports and, on top of that, there was the bonus of it being politically astute as well. Something where doing the right thing is a win/win.

[Cha]

Poor boner..it must suck to be absolutely good for nothing but stupid questions.

Pres Obama came into office and the "economy" was in the toilet..he's done everything he can and more to raise the sinking ship.

[Julie]

(12-05-2010 02:55 PM)Scurrilous Wrote:  <snip>

"Playing defense on the economy, President Barack Obama may have found a potent "I told you so" argument in the rescue of General Motors. But will he get any credit for it?

Obama visits a Chrysler plant in Kokomo, Ind., on Tuesday with Vice President Joe Biden, reprising similar trips he made last summer to GM, Ford and Chrysler plants in Michigan and Illinois. His stewardship of the auto bailout — begun under President George W. Bush in the waning days of his term — could weigh heavily on the minds of voters throughout the industrial Midwest. Obama picked up key electoral votes there in 2008 but recently watched states like Michigan and Ohio elect Republican governors and members of Congress.

General Motors launched one of the largest initial public offerings in U.S. history last week, more than a year after it was pushed into bankruptcy by the Obama administration at a taxpayer cost of about $50 billion. The rescue of GM and Chrysler was roundly criticized by many Republicans and tea party candidates who said the government should not have intervened to save the carmakers.

"Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability?" asked House Republican Leader John Boehner of Ohio when GM filed for bankruptcy in June 2009.

GM might prove Boehner wrong, giving Obama a stronger hand in the debate over how the government handled the auto meltdown. The bailout still remains unpopular with many Americans — and the futures of GM and Chrysler are far from certain — but GM's return to the New York Stock Exchange and an expected IPO from Chrysler in 2011 could give Democrats a vivid example of economic recovery."

http://www.tnj.com/news/business/gms-ret...ma-midwest

I believe that if GM's comeback keeps on nice and strong this will play greatly into 2012. Not limited to the midwest but prob ably concentrated in that region.

Many do not realize how many other jobs a GM job create. The stronger GM gets and the faster we can get our battery technologies and production (for the Volt) the more the economy will grow. It is all connected. we are all connected.

Julie