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.
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
Detroit, MI 48265
19 November 2008
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.