Mitt Romney

VIDEO: Romney is Right About Jeep Production in China

NLPC Associate Fellow Mark Modica was a guest Wednesday night on Fox Business Network's Willis Report. Here's a transcript:

Fact Checking Romney and GM on Job Creation Claims

General Motors is criticizing Mitt Romney for running an ad that says GM cut 15,000 jobs under the Obama Administration. The Detroit Free Press reported that GM spokesman Greg Martin (speaking about the Romney ad) stated, "No amount of campaign politics at its cynical worst will diminish our record of creating jobs in the U.S. and repatriating profits back to this country."

Leaving aside for a moment the bigger issue of a taxpayer-supported entity improperly inserting itself in an election, lets examine the facts. A look at GM's annual SEC filings gives a clear picture of how many people were employed by the company both before and after the Obama Administration guided the company through a bankruptcy process.

AUTO BAILOUT BOMBSHELL: Fiat Says Chrysler, Jeep Production May Move to Italy

Obama Marchionne photoComing 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.

According to the piece, "To counter the severe slump in European sales, (Fiat CEO Sergio) Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said."

Romney is Right About Chrysler / Jeep China Outsourcing

Fiat Chrysler logosThere is nothing like having unbiased media coverage of the all-important presidential campaign leading up to next week's election. And the media is nothing like unbiased. We see this playing out again as Mitt Romney is now being accused of misrepresenting a story that Bloomberg.com reported on Chrysler's potential outsourcing of Jeep manufacturing to China. A look at the original comments from the article gives evidence as to how unfair the criticism is and just how right Romney was for pointing out the likely future outsourcing of Jeep manufacturing.

Obama’s GM Bailout Nothing to Brag About

Obama debate photoAs the presidential election nears we continue to hear about what a great job the Obama Administration did "saving" General Motors. The claims are that millions of jobs were saved and Mitt Romney wanted to let Detroit go bankrupt. A review of the facts reveals that the auto bailout process that cost taxpayers billions of dollars is hardly anything to brag about.

When President Obama says he "saved" GM, what he means is that his administration guided a bankruptcy process for the company, funded with taxpayer dollars. The repeated statements by Obama that Romney would have let the company go bankrupt are deceptive. Let's be clear, GM DID go bankrupt.

More Green Energy Money Down the Drain

NLPC Associate Fellow Paul Chesser is interviewed on Fox Business Network's Money With Melissa Francis. Here is a transcript:

Ally Financial - Another Auto Bailout Bankruptcy

The Obama Administration has become quite the expert on bankruptcy filings. The Detroit Free Press reports that the third auto bailout partaker, Ally Financial, has filed bankruptcy for its mortgage subsidiary, ResCap. The government still owns 74% of Ally, and now has an 0 for 3 record on restructuring bailed out auto-related companies outside of bankruptcy.

Romney Must Clarify Positions on Auto Bailouts and Energy Subsidies

A couple of stories surfaced recently that should be of concern to voters that are analyzing how a Romney presidency would differ from the current administration. President Obama has a track record that can be examined to get a grasp of his agenda, but Governor Romney needs to further explain his positions on two key areas that many voters would expect to see a divergence with our present leader. The reports bring in to question whether or not Romney would be any different from the administrations over the past 12 years when it comes to dumping billions of taxpayer dollars into subsidies and bailouts.

White House First to Say Chevy Volt Not Ready For Prime Time

Steve Rattner photoMitt Romney has been criticized for stating that the Chevy Volt is an idea whose time has not come. We have gotten to a stage in the election cycle where even the slightest of criticisms against the Volt leads to outcries of a right wing, "wrong-headed" conspiracy to hurt sales of the vehicle. What has not been reported is the fact that the Obama White House was the first to say that the car was not ready for prime time.

Lawyers Who Backed Obama Advised on Failed Loan Programs

Obama InvescoLast week NLPC reported that an international law firm, whose employees provided significant campaign support for President Obama, was paid $1.8 million from the stimulus to review and conduct “due diligence” for the Department of Energy’s suspended loan to Fisker Automotive, an electric vehicle start-up company. Fisker sent 65 workers to the unemployment lines.

Debevoise and Plimpton, which employs top Obama bundler and fundraiser David Rivkin, wasn’t the only largely Democratic law firm to reap such rewards. At least four other major law practices also analyzed DOE’s loan programs and its grantees – three of which gave large sums of money to the campaigns of President Obama and fellow Democrats.

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