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UAW, GM, Chrysler slams Romney’s campaign lies


umbertino
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People’s World article by Joe Sims

Reaction to Mitt Romney’s new campaign ad claiming that Chrysler and General Motors are exporting U.S. jobs to China has been swift and sharp.

The Romney ad has been running in swing states during the last week of the campaign. Romney first made the allegation in Defiance, Ohio, last week. In Defiance, the GOP candidate said he read an article that the Italian-owned car company is “thinking of moving all production [of Jeeps] to China.”

When challenged the Romney campaign slightly modified the ad. However, fact checkers and media outlets continue to say the ad is factually untrue.

Romney is trailing President Barack Obama in both Ohio and Michigan.

UAW President Bob King, according to the Youngstown Vindicator, said the ad was “unbelievable lies” and “outrageous.”

Union leader Dave Green at the Lordstown Assembly plant said, “The insinuation is that GM has cut American jobs and plans to move those jobs to China that couldn’t be further from the truth.” http://www.vindy.com/news/2012/oct/31/local-uaw-president-blasts-romney-ad/?nw

Corporate chiefs at Chrysler and GM also joined the fray. Greg Martin from GM said “No amount of campaign politics at its cynical worst will diminish our record of creating jobs in the U.S.” says the Vindicator.

Vice President Joe Biden said the ad was “an outrageous lie.” He continued, “They are running the most scurrilous ad in Ohio. And I mean this sincerely… one of the most flagrantly dishonest ads I can ever remember in my political career.”

The ad controversy is but the latest example of misleading and blatantly false claims by the GOP standard bearer. Earlier Romney claimed President Obama was robbing Medicare of $716 billion and the work requirement for welfare was being eliminated.

Continuing in this vein, former Labor Secretary Robert Reich says, “Recall Romney’s assertion that he is not planning to give the rich a tax cut of almost $5 trillion, when in fact that’s exactly what his budget plan does? Or that his budget will reduce the long-term budget deficit, when in fact his numbers don’t add up?”

The Romney campaign has so far refused to pull the ad.

6 hours ago

http://peoplesworld.tumblr.com/

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okay.. fact is: GM has been a prominent USA auto manufacturer in China for a decade. Nothing is now being sent over... they have GM vehicles there.. so that's nothing new.

Chrysler made an official statement publicly today to debunk total misinformation from the Romney commercials that there is no reason, want, wish or plan to ever ship their manufacturing to China. period.

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Navistar to close Texas truck plant, cut 900 jobs

October 30, 2012|By Alejandra Cancino | Tribune reporter

Navistar International Corp. said Tuesday it intends to close a truck assembly plant in Garland, Texas, by the first half of 2013 as part of its efforts to cut costs.

"Closing a facility is always difficult because of its impact on the many great people who've been part of our company," Troy Clarke, Navistar president and chief operating officer, said in a statement. "But the fact is that Navistar has too much manufacturing capacity in North America, and we must take quick action to improve our business and position the company for long-term success."

Navistar employs about 900 salaried, hourly and third-party temporary workers at the Garland facility. Production will be moved beginning in January 2013 to the company's plants in Escobedo, Mexico, and Springfield, Ohio.

The plant closure is expected to reduce Navistar's operating costs by $25 million to $35 million annually. The company's overall goal is to cut costs by $150 million to $175 million per year.

Navistar has already laid off about 800 salaried workers. The truckmaker expects those job cuts to save the company $70 million to $80 million annually.

Navistar said costs from the Garland plant closure, including buyout packages, are not expected to exceed $10 million before taxes in the fourth quarter. Next year, Navistar expects pre-tax charges ranging from $30 million to $50 million.

Navistar's troubles stem from an engine technology that cost $700 million to develop since 2001 but failed to reduce levels of smog-causing nitrogen oxide enough to meet 2010 federal standards.

Last week, Navistar issued 10.7 million shares of its common stock at $18.75 per share. The cash-strapped company raised about $192 million after discounts and expenses. Navistar said it will use the proceeds for general corporate purposes.

Analysts have raised concerns about the company's cash for months. "Navistar could be forced to file bankruptcy to slash obligations and preserve cash so it can navigate over the next year through its most difficult transition ever," Vicki Bryan, a senior high-yield analyst with Gimme Credit LLC, said in a note to investors Tuesday.

To be sure, other analysts have said that the company's cash burn in the fourth quarter has been better than expected and that the shares offer alleviated cash concerns. "In our view this should largely remove the risk of bankruptcy from the shares," Stephen Volkmann, an analyst with Jefferies & Co. said in a note to investors last week.

In September, Navistar unveiled a plan that includes layoffs in the fourth quarter, potentially selling business units and working on an accelerated schedule to deliver an engine that meets federal emission standards.

The plan was announced by Lewis Campbell, who became interim chief executive in August after the sudden retirement of Dan Ustian.

Campbell said Monday at a conference in Las Vegas that he is willing to look at the possible sale of any part of the business as he tries to return the company to profitability but he is not willing to consider fire-sale prices for its assets.

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Never have we ever been less free than we are now,

Industry evacuated it threw in the towel,

Fines from regulation has replaced it anyhow,

Our one great dream is gone.

Holy, holy, holy molly

Holy, holy, holy molly

Holy, holy, holy molly

Our one great dream is gone

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