In the year before the President’s inauguration, the auto industry lost more than 400,000 jobs and was in the brinks of bankruptcy. Because of President Obama’s action, Chrystel and GM avoid the possibility of liquidation that would have caused a lose of at least 1 million jobs. Today, two years later, the auto industry is adding jobs, making profit and growing. 170,000 jobs have been created since Chrystel and GM emerged from Bankruptcy thanks to the Obama Administration action to help provide the auto industry the temporary support it needed to grow and prosper.
The 2012 North American International Auto Show has opened in Detroit, Michigan, and Kane Farabaugh Voice of America writes:
Ford CEO Alan Mulally’s message at a launch event for the newly redesigned Ford Fusion sedan was direct: His company is profitable and growing.
“We are committed to 12,000 new jobs in our U.S. manufacturing facilities and we are on plan to have them filled by year end,” said Mulally. “We are also adding 3,000 new jobs in Asia-Pacific.”
Ford’s expansion comes after several years of profitability and marks a dramatic change in an industry that shed tens of thousands of jobs in the last decade. But, under new contracts ratified in 2011 with the United Auto Workers union (UAW), the “Big Three” Detroit manufacturers – Ford, General Motors, and Chrysler – are all bringing more people back to U.S. assembly lines.
And then we have the Flip Flop In-Chief Mitt Romney who said:
If it was up to Mitt Romney, he would have done to Chrystel and GM what he did best when he was running Bain Capital — let the Auto Industry go under since he loves firing people. No wonder that out of 77 businesses Mitt Romney’s company, Bain Capital LLC, has invested in shows a 22 percent rate of the companies either filed for bankruptcy or shut down by year eight.
Go figure…the guy is running for President of the United States.