Day by Day



19 November 2008

The spiel...

I am on the list for GM suppliers.  I found this message very interesting.  Much like the financial crisis, little is understood about the problems plaguing the automotive industry.  Like it or not, a sizable portion of our economy relies on this industry.  We depend on it for mobility, jobs and upstream and downstream industries.  I thought it best to share to give some additional insight as to how our nation relies on the free flow of capital.


From: GM Supplier Discount [mailto:GM_Supplier_Discount@email.generalmotors.bfi0.com]
Sent: Tuesday, November 18, 2008 10:02 PM
Subject: An urgent message to GM suppliers

Because our futures are linked, I want you to know that General Motors is doing everything possible to deal with the impact the financial crisis is having on the domestic auto industry. Yet despite our successful efforts to restructure, reduce costs and enhance liquidity, we are facing an uphill battle with the current administration and Congress in securing a bridge loan.

That's why we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

• One in 10 American jobs depends on U.S. automakers
• Nearly 3 million jobs are at immediate risk
• U.S. personal income could be reduced by $150 billion
• The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking you to support this vital effort by contacting your representatives.

Please take a few minutes to call your representatives by dialing 1-866-471-5332. Just state your name and address, and your message will reach your legislators. You can review a script that will help you state your support at gmfactsandfiction.com. Under the "Mobilize Now" section, click on "I'm a Supplier." If you would rather e-mail your representatives, use the link "I'm a Concerned American."

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,

Troy Clarke

The marks of General Motors, its divisions, slogans, emblems, vehicle model names, vehicle body designs and other marks appearing in this email are the trademarks and/or service marks of General Motors Corporation, its subsidiaries, affiliates or licensors. ©2008 GM Corp. Buckle up, America!

General Motors Corporation
100 Renaissance Center
482-A00-MAR
Detroit, MI 48265

6 comments:

Anonymous said...

I vote for Adam Smith & his invisible hands. When I hear the big 3 flew to DC on private jets to beg for money, I think things cannot be all that bad in Detroit. Maybe they should build cars people want...

Citizen Deux said...

I don't get too worked up over the private jet issue - a LOT of people are using private aircraft as it improves reliability and reaction time.

I do get worked up over the lack of real change in the Auto industry. They are burdened by their legacy costs and will likely go from a big three to a big two. They MUST restructure their relatinship with their labor unions - or they will fail.

Remember American Motors? Oldsmobile? Plymouth? These were all standalone companies at one time.

sonicfrog said...
This comment has been removed by the author.
sonicfrog said...

Al Gore uses a private jet, poluting the atmosphere... and you don't hear too many liberals kvetching bout that, do ya!!!

Mack said...

US automakers have been watching as foreign cars have taken over the market. They've had 30 years to fix their problem. Now we get to pay for it. I guess as long as they use it to actually improve their products and we get our money back, I'm okay with it. But, I hope we learn lessons from this. I hope. I hope.

I love my Toyota Yaris. It cost me $15,500 fully loaded and I average about 34 mpg. I used to drive a Plymouth Breeze. That car was a piece of shit! Before that I drove a 1983 Toyota Camry. I bought that car for $2,000 with 15,000 miles on it and drove the mother into the ground (may she rest in peace).

Citizen Deux said...

I like the Honda Fit.

Ver word - "toxica"