Mitt sounds off

Mitt Romney, in an op-ed in The Detroit News:

The Obama administration needs to act now to divest itself of its ownership position in GM. The shares need to be sold in a responsible fashion and the proceeds turned over to the nation’s taxpayers.

We should not be back on a road like the one that brought us Freddie Mac and the housing crisis. It is a road with endless hazards. It is not the American way of making cars.

The dream of the Motor City is and always has been one of ideas, innovation, enterprise, and opportunity. It started with Henry Ford and continued with visionaries like William Durant, Walter Chrysler, and the Dodge Brothers. These giants never envisioned a role for government in their business, but relied on the hard work and commitment of private individuals.

Two observations:

  • The President could respond to Romney’s call for divestiture by pointing out that GM shares have been tanking of late, and that selling off at this point would result in even greater losses to the taxpayers;
  • Willard is probably the only person ever associated with the auto industry who referred to Billy Durant as “William.”

And you’ll note that Romney’s choice of “visionaries” includes all three Detroit automakers, lest he appear to be playing favorites.







2 comments

  1. Nancy »

    15 February 2012 · 11:18 am

    À propos, one Michigan writer wonders whether Mitt is really George Romney’s son:

    “Romney writes that he ‘got my love of cars and chrome and fins and roaring motors’ from his father, who became president of American Motors when the younger Romney was 7 years old.

    “But American Motors under George Romney was the antithesis of chrome, fins and roaring motors. The automaker, which was acquired by Chrysler in 1987, prided itself on building small, affordable, fuel-efficient cars.”

    http://www.micheconomy.com/2012/02/is-mitt-romney-really-george-romneys.html

  2. CGHill »

    15 February 2012 · 12:00 pm

    George Romney may indeed have loved big Detroit iron. But he never had much success selling it, so he decided to concentrate on a market he’d helped create: the American compact. After the Hudson/Nash merger, AMC dumped both nameplates and concentrated on Rambler, the name Nash had used on its pioneering small car.

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