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Horsepower Politics

Paul Eisenstein — Thu, 13 Sep 2012 16:57:00 EST

Filed under: Government/Legal, Earnings/Financials

The Role Autos Are Playing In Deciding Our Next President

He was elected to the U.S. Senate in 1942 and served a dozen years during which his most memorable act was introducing the bill that added the words, "under God" into the Pledge of Allegiance. But to both his friends and foes alike, Homer S. Ferguson had a more important agenda that earned him the sobriquet "the Senator from General Motors."

As the recent Supreme Court decision commonly referred to as "Citizens United" only underscored, money has always played a part in politics. And for much of the 20th Century, few had the sort of money to invest in influencing government like the auto industry, especially giant GM.

But something curious has happened in the world of horsepower politics over the last few years. General Motors, in particular, has become as much a topic of debate as the force influencing the discussion. And where you stand on the subject could very well influence how you vote in this November's presidential election.

Paul A. Eisenstein is Publisher of TheDetroitBureau.com and a 30-year veteran of the automotive beat. His editorials bring his unique perspective and deep understanding of the auto world to Autoblog readers on a regular basis.

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Horsepower Politics originally appeared on Autoblog on Thu, 13 Sep 2012 16:57:00 EST. Please see our terms for use of feeds.

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Lutz stumps for Romney despite opposition to auto bailout

Zach Bowman — Fri, 15 Jun 2012 09:32:00 EST

Filed under: Government/Legal, Chrysler, GM, Celebrities, Electric

Bob Lutz has put Republican presidential candidate Mitt Romney's numerous past comments about the automotive bailout behind him, according to Automotive News. During a recent episode of "The Kudlow Report" on CNBC, the former auto executive made it clear he now backs Romney for the 2012 presidential election, saying "[Romney] now says he was totally in favor of [the bailout] and suggested it."

In 2008, Romney wrote an op-ed for The New York Times titled, "Let Detroit Go Bankrupt." The piece adamantly opposed the government bailout in favor of a managed bankruptcy for both General Motors and Chyrsler. He has maintained his opposition to the auto bailouts publicly along the campaign trail, and Lutz's comment is the first news we've heard of the candidate's apparent change of heart. As recently as February 18, Lutz himself criticized the presidential candidate for his stance, especially for suggesting that the automakers simply needed to borrow from banks. According to Lutz, the banks were in worse shape than either of the imperiled manufacturers.

But that was then. Lutz now says he forgives Romney for his earlier statements, and that his support has more to do with opposing President Barack Obama than it does any actual faith in Romney's policies. Lutz said, "You know, all is forgiven. It depends on who [Romney's] opponent is."

While speaking with The Detroit News recently, Romney said that if elected, he would quickly sell the U.S. Treasury's stake in GM. He's also criticized the Obama Administration's proposed fuel economy requirements and support of electric vehicle manufacturing and development. Having helped usher the Chevrolet Volt to market, Lutz is a major proponent of electric vehicles.

Lutz stumps for Romney despite opposition to auto bailout originally appeared on Autoblog on Fri, 15 Jun 2012 09:32:00 EST. Please see our terms for use of feeds.

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Obama reelection campaign launches auto bailout commercial

Chris Shunk — Fri, 24 Feb 2012 16:55:00 EST

Filed under: Government/Legal, Videos, Earnings/Financials

The 2008 economic collapse in the U.S. led to what many experts call the worst recession since the Great Depression. Among the many casualties of the recession was the U.S. auto industry, which (arguably) was saved thanks to $25 billion in cash from the Bush Administration in 2008 and another $60 billion from the Obama Administration in 2009.

The Detroit News reports that 51 percent of Americans opposed the bailouts, with more Republicans being against the moves than Democrats. We're guessing far more Michigan residents were in favor of government intervention than the U.S. at large, and the Obama Administration is looking to capitalize on the move with a pro-bailout commercial.

The ad, which can be viewed after the jump, will run in Michigan throughout the weekend. The ad is hitting the airwaves as Michigan voters prepare to vote in the state's Republican primary. Every serious Republican candidate is on the record as opposing the bailout.

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Obama reelection campaign launches auto bailout commercial originally appeared on Autoblog on Fri, 24 Feb 2012 16:55:00 EST. Please see our terms for use of feeds.

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Obama critizes McCain's $300m battery prize

Jeremy Korzeniewski — Tue, 24 Jun 2008 19:32:00 EST

Filed under: Hybrid, Government/Legal, Green

As expected, presidential hopeful John McCain outlined a plan yesterday which would offer a $300 million cash prize to the first company able to build a better automotive battery. The proposal is part of an effort to reduce the nation's petroleum usage, in this case, by furthering the development of electric cars. In what would must be the least shocking news of the day, McCain's rival for the White House, Barack Obama, isn't in favor of the Arizona Senator's plan, calling it a "gimmick" and suggesting that his plan to force automakers into a 50 mile per gallon fleet average by 2027 would be more effective.

One thing is certain: whomever wins the presidential election has plans to make drastic changes to the automotive sector with the express goal of reducing the nation's dependence on oil. What path that may take, though, remains to be seen and will likely depend on which candidate placed in office. It should be rather interesting to watch it all unfold.

[Source: The Detroit News]

Obama critizes McCain's $300m battery prize originally appeared on Autoblog on Tue, 24 Jun 2008 19:32:00 EST. Please see our terms for use of feeds.

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