Obama to Detroit: What do you need? Detroit to Obama: Money.
The two major U.S. presidential candidates, Barrack Obama and John McCain, have both expressed an interest in investing Federal money into green automotive technology. Although both men have differing ideas about what may be the best way to move forward, it's becoming clear that green automotive technology will be a point for debate as the election nears. This week, Obama visited with leading members of the Detroit automotive scene, including Rick Wagoner from General Motors and Alan Mulally from Ford, both of whom seemed pleased with how the dialogue went. When asked by Obama what he, as President, could do to help the ailing auto industry in the U.S., Wagoner responded by suggesting that the government contribute funds into the research and development of emerging technologies, such as automotive batteries. Maybe more than $30m, perhaps?Assuming that the cost for new eco-friendly technology will be passed on to the consumer, Wagoner also suggested that the government make it easier to get into a new green car, which has been done to good effect with hybrid vehicles already. Obama, for his part, said he saw "surprising consensus" among the automotive industry representatives, so we'd imagine similar suggestions were heard all around.
Update: Fixed Rick Wagoner's name, thanks!
[Sources: The Detroit News, Automotive News - sub. req'd]
Reader Comments (Page 1 of 1)
scott 11:35PM (6/26/2008)
A dialog of this nature is long overdue. The "do nothing" congress only has itself to blame for the mess we are in with energy prices.
btw, it's "Rick" Wagoner, not Jim.
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Paul 12:54AM (6/27/2008)
Again with the flattering Obama campaign pic. I'd very much appreciate seeing something like this picture accompanying posts concerning this "candidate":
http://www.salient.org.nz/resources/uploads/2008/04/barak-crazy.jpg
Though, perhaps your tastes would better be served by this one:
http://voteforbreakfast.com/images/super_barack.jpg
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Fantasy Freddy 5:18AM (6/27/2008)
Those two men could, if they want $30 million, contribute their
yearly salaries for one year, instead of putting the burden on
suffering taxpayers. It is a shame they have run their companies
into the ground making low quality, poorly designed gas guzzlers.
They squandered record profits on investing in gas guzzlers and now
want us to bail them out while they earn millions??!! The nerve!!
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ed 6:06AM (6/27/2008)
Hmmmm.
"money".
And that's news?
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MikeInNC 8:20AM (6/27/2008)
Nice glamor shot of BO. Could you guys be more obvious?
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GoodCheer 10:01AM (6/27/2008)
The Partnership for a New Generation Vehicle was canceled in 2001 "at the request of the automakers" (according to Wikipedia). Maybe they could "request" that it be reinstated? It certainly seemed like a good idea to me at the time. Straight cash handouts seems far less appealing to me.
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GoodCheer 10:03AM (6/27/2008)
And why is everybody in a snit about the photo? It's not like ABG has a picture of Obama (or McCain) talking to Wagoner and Mulally.
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Mike 10:59AM (6/27/2008)
Forget the candidates for a moment. It's one thing to have the gov't "assist" these companies in developing new technologies (other countries do it). It's quite another to ask the consumers to foot the bill for these companies to do what they need to do to compete & R & D they should have been doing all along. And when, will American Executives get off their lazy butts and stop just collecting their mega paychecks & bonuses and start rolling up their sleeves and RUN companies properly.
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Whopper 11:34AM (6/27/2008)
@8 When companies perform R&D the consumer pays the bill as part of the overhead incorporated in the selling price of the product (duh!). Whether via government tax money or selling price, the consumer always pays.
What constitutes "RUN companies properly"? Within the capitalist system a properly run company pays dividends to the share holders. When that doesn't happen the execs are shown the door. The system moves slowly but when left to its proper pace it does get the job done.
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Dan 12:03PM (6/27/2008)
Man, that figures... the Japanese pride themselves on forging new paths in efficiency and innovation. Same with the Germans. American automakers need money because they don't like taking risks and being pioneers.
Do Ford, GM, and Chrysler execs snort mustard on their lunchbreaks?
BTW, Bob and Rick suck balls. Maybe they should've poured research dollars into efficient technologies instead of how to roll more Hummers and Denali's off the line. Obama should stiff the bastards and tell them to figure it out on their own. We have enough economic problems to not have to worry about keeping our domestic automakers bouyant. It's almost the same short-sightedness of the idiots who lent out millions of dollars during the realestate bubble... and people who borrowed thinking they could flip a property in a month for profit.
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Mike 12:07PM (6/27/2008)
@9 Wake up. Greed, Greed & More Greed. Enron, Bear Sterns, Drexel, Tyco. That's why they go to jail. As long as their pockets are filled.
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Mike 12:51PM (6/27/2008)
@10 DAN YOU ARE THE MAN. That's my point. These guys are status quo. Just in it for the money.
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Joseph 7:11PM (6/27/2008)
"Obama, for his part, said he saw "surprising consensus" among the automotive industry representatives"
I never could have guessed that the automakers wanted more money. lol
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Jeremy Korzeniewski 3:11PM (6/27/2008)
I'm not sure if you guys are serious about the pic of Obama... but if you are, we're not trying to make any political statements at all.
JK
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Stan Peterson 7:30PM (7/02/2008)
Typical stupid politician.
Raise FICA Taxes, Raise income Taxes; Raise Cap Gains Taxes; Raise Corporate Taxes.
Now that possible customer's disposable incomes after taxes, are slashed; and can't afford to buy a new car.
Go to Detroit and ask "How can I help?"
How about deciding not to run, after all?
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kirk 5:56PM (6/27/2008)
Of course they need more money. It wasn't enough for them to take millions to run companies into the ground. PS: I could do that for a LOT less.
And guess what, you didn't need to be a genius to see that the days of cheap oil would be over soon. All you had to do was look at Europe over the last few years. And yet, that kept building mammoth gas guzzlers. What a bunch of idiots.
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