Entries in Chrysler (5)


Biden Calls Romney Jeep Ad ‘Outrageous Lie’

William Thomas Cain/Getty Images(SARASOTA, Fla.) -- Vice President Biden launched a stinging critique of Mitt Romney for an Ohio ad suggesting the president allowed Chrysler to move Jeep operations to China, calling Romney’s ad an “outrageous lie.”

The vice president said the ad was an act of “desperation” and he accused the GOP nominee of using scare tactics to frighten thousands of autoworkers in the final days of the campaign.

“They are running the most scurrilous ad in Ohio. And I mean this sincerely… one of the most flagrantly dishonest ads I can ever remember in my political career,” Biden said at the Municipal auditorium. “It’s an outrageous lie. A lie, a lie that is so deceptive and so patently untrue that the Chrysler corporation, including the chairman of the board of Chrysler, they actually spoke up.”

Executives at GM and Chrysler have rebutted the ad Romney released last week, and the vice president said the Romney campaign is using the ad to “scare the living devil” out of Ohio autoworkers.

“Maybe it’s just me. Maybe because it makes me so…so,” Biden said holding his tongue and adding. “I’m being a good Biden today. Why would they do this? Why would they do this in the face of the overwhelming facts contradicting them? I’ll tell you why I think they’re doing it. They’re trying to scare the living devil out of a group of people who have been hurt so badly...because of the previous four years before we came to office.”

“These are auto workers waking up in their communities just a couple of days ago to see this ad and guess what they were calling? Thousands of them were calling their UAW reps, is it true? Is it true? Is Jeep really going to leave?…  What a cynical, cynical thing to do….To go out and try to scare these people for electoral reasons at the end, to say something that’s so untrue,” Biden said.

Biden accused Romney of spreading “confusion” with his ad, an attribute the vice president said a president shouldn’t possess.

Republican vice presidential nominee Paul Ryan defended the ad Wednesday.

“American taxpayers are on track to lose $25 billion as a result of President Obama’s handling of the auto bailout, and GM and Chrysler are expanding their production overseas. These are facts that voters deserve to know as they listen to the claims President Obama and his campaign are making. President Obama has chosen not to run on the facts of his record, but he can’t run from them,” Ryan said.

The vice president resumed his first full day of campaigning Wednesday in Florida after his events in Ohio were cancelled Tuesday due to Superstorm Sandy. Biden lauded the bipartisan tone governors, mayors and federal officials have adopted in their organization of storm relief efforts and hoped that attitude of cooperation would extend beyond the election.

“It’s working like it used to work when I was a young senator. We’ve got Democrats and Republicans working together,” he said.

With less than six days until Election Day, Biden is on his final trip through Florida, a state that he’s visited 10 times including this trip. As the crowd chanted “four more years,” Biden warned the supporters, “We gotta get through the next six days.”

But while he sharpened his attacks against Romney in his speech, Biden shortly after turned his attention to 2016, jokingly telling a Republican voter over the phone at a restaurant called 400 Station that he just might be on the ticket in 2016.

“Well look, I’m not trying to talk you into voting for me, I just wanted to say hi to you, okay?” Biden said over the phone. “And after it’s all over when your insurance rates go down then you’ll vote for me in 2016. I’ll talk to you later.”

Copyright 2012 ABC News Radio


Obama Michigan TV Ad Jabs Romney on Controversial Auto Bailout

JIM WATSON/AFP/Getty Images(WASHINGTON) -- Just days before the Michigan GOP primary, the Obama campaign has taken a swipe at former Gov. Mitt Romney in a new TV ad that contrasts the president’s support for a 2009 bailout of Detroit-based GM and Chrysler with Romney’s opinion that they should go through bankruptcy without taxpayer help.

“When a million jobs were on the line,” the narrator says of the 2008 financial crisis that consumed the automakers, “every Republican candidate turned their back.”

“Even said ‘Let Detroit go bankrupt,'” flashing Romney’s face and the headline from his November 2008 op-ed in the New York Times.  (It should be noted that Romney never said those exact words; they were affixed to his op-ed by a Times editor.)

Democrats have made the financial rescue the centerpiece of their campaign in Michigan, hammering Romney for weeks in an effort to undermine support for him in a state where automakers and their suppliers are the largest employers.

Romney said he wanted a “managed bankruptcy,” whereby the companies would have been restructured without taxpayer funds.  Many experts, however, doubt they could have survived without the advance aid.

The Obama administration claims the infusion of more than $40 billion in government cash to keep the companies afloat saved more than a million jobs and led to more than 200,000 jobs created at the companies since June 2009. His critics doubt a million jobs would have been lost, and argue bond holders would have been able to recover their investments had a bankruptcy would have been allowed to proceed.

GM reported last week a record profit for 2011 and reassumed the mantle of the number one automaker in the world.  The company also said its 47,500 union workers would receive $7,000 each in shared profits -- the largest sum ever.

The gains, however, have come at a cost to taxpayers.

Chrysler has paid back only $10.6 of $12.5 billion received from the government under Presidents George W. Bush and Obama, according to figures provided by the White House.

GM has repaid $26 billion to date, after receiving $13.4 billion under Bush and $36.1 billion under Obama.  The Treasury Department continues to own 500 million shares of GM stock, or roughly 32 percent of the company.  The price of those shares will determine how much taxpayers will recoup or lose, if and when the government sells.

The new Obama ad, the campaign’s second of the 2012 cycle, will run in four Michigan markets -- Detroit, Grand Rapids, Lansing and Flint, an official said.

Copyright 2012 ABC News Radio


Gingrich Praises Clint Eastwood Superbowl Ad

NICHOLAS KAMM/AFP/Getty Images(CLEVELAND) -- Karl Rove said he was offended by Chrysler’s Clint Eastwood halftime Super Bowl ad and other Republicans grumbled that the ad subtly promoted the interests of President Obama, who has made the bailout and the seeming resurgence of the U.S. car industry a major economic sales pitch for his re-election.

But Newt Gingrich, the former House Speaker from Georgia who is running for president as a Republican, said Wednesday that he liked the ad.

“I have to confess I liked the Clint Eastwood halftime ad,” Gingrich told a crowd at Jergens Inc. during a campaign stop in Cleveland. “I mean, I liked the tone of that ad. The world has counted us down before and we’re just regrouping and I believe with your help in the primary and your help in the general election, we can, in fact, develop an approach that will put America back on the right track.”

In the ad, which ran Sunday night, Eastwood said, “It’s halftime in America, too. People are out of work, and they’re hurting. And they’re all wondering what they’re going to do to make a comeback. And we’re all scared because this isn’t a game. The people of Detroit know a little something about this. They almost lost everything. But we all pulled together, now Motor City is fighting again.”

Amid criticism from the Right, Eastwood later issued a statement saying, "I am certainly not affiliated with Mr. Obama."

Copyright 2012 ABC News Radio


Obama to Visit Ohio Chrysler Plant, Speak on Auto Bailout's Success

JIM WATSON/AFP/Getty Images(TOLEDO, Ohio) -- President Obama will visit a Chrysler plant in Toledo, Ohio Friday, congratulating once-bankrupt auto companies for zooming back to life.

The president is expected to tout the success of bailing out the auto industry -- a decision that was not popular when he took office, and remains controversial for some, who re-dubbed General Motors' "GM" as "Government Motors."

His tour of the plant comes a day after the Treasury Department announced it was selling back its final stake in Chrysler to Fiat.  After being bailed out, Chrysler has repaid all of its debt, six years ahead of schedule.

Half of the General Motors stock the government owns has been sold back to the public, and the White House claims taxpayers will get back $66 billion of the $80 billion invested.

And perhaps not coincidentally, Obama's announcement is being made in a key a battleground state in the 2012 election.

Copyright 2011 ABC News Radio


Obama Hails Chrysler Factory 'Shining Example' of Auto Recovery 

Photo Courtesy - ABC News(KOKOMO, Ind.) -- Describing the Chrysler factory as once “dark and empty,” President Obama on Tuesday trumpeted the success of the Kokomo, Indiana, factory, now at full capacity, hailing it a “shining example” of the auto industry’s recovery since the federal bailout.

“Even as we continue to face serious challenges, what's happening here at this plant, the changes we're seeing throughout Kokomo, are signs of hope and confidence in the future, in our future, together,” Obama said from the floor of the Chrysler factory Tuesday afternoon.

The Kokomo plant two years ago had plummeting production and had to lay off many of their workers. With the federal government’s bailout, the plant is back at full capacity and hiring workers. Kokomo's unemployment has gone from a staggering 20 percent in June of 2009 to 12 percent this fall.

“There were those who were prepared to give up on Kokomo and our auto industry,” the president said. “There were those who said it was going to be too difficult, or that it was bad politics, or it was throwing good money after bad. You remember the voices arguing for us to do nothing. They were pretty loud, suggesting we should just step back and watch an entire sector of our economy fall apart.”

The president heralded the Big Three automakers’ recovery as well, saying that for the first time in over a decade Americans are buying a larger share of Chrysler, Ford, and GM cars and a smaller share of their foreign counterparts.

Bringing up the bipartisan summit scheduled for next Tuesday from the White House, the president called for Democrats and Republicans to work together to better the economy, and work on tax cuts, in order to “make it easier, not harder, for middle-class families to get ahead.”

President Obama and Vice President Biden made three local stops in the Kokomo area. The pair visited an elementary school and the Gingerbread House Bakery and ate lunch with firefighters who had been laid off but got their jobs back due to a FEMA grant.

Copyright 2010 ABC News Radio

ABC News Radio