Entries in GM (3)


Paul Ryan’s Disputed GM Claim Pops Up in Iowa Ad

Alex Wong/Getty Images(PORTLAND, Ore.) -- A conservative superPAC is taking part of Paul Ryan’s convention speech that brought him under fire for inaccurately blaming President Obama for a GM plant’s closing and using his words in a new ad attacking Obama and backing up the GOP ticket.

Ryan came under scrutiny after his Republican National Convention speech implied it was Obama’s fault that a GM plant in his hometown of Janesville, Wis., closed down, although it shut its doors before the president came into office.

The ad from the American Future Fund, named “Janesville,” will run in Des Moines and Cedar Rapids in the battleground state of Iowa with a $150,000 buy.

The ad starts begins with  ”His words gave us hope” written across the screen and then goes to Obama’s 2008 speech at the plant 10 months before it shut down during the Bush administration.

“I believe that if our government is there to support you and give you the assistance you need to retool and make this transition that this plant will be here for another 100 years,” then-candidate Obama said.

The ad then moves to Ryan’s convention speech in Tampa:

“Well as it turned out that plant didn’t last for another year,” Ryan said, referring to the president’s trip to the plant, but not mentioning it closed down under a different administration. “It is locked up and empty to this day and that’s how it is in so many towns where the recovery that was promised is nowhere in sight.”

The Ryan footage continues: “We have suffered no shortage of words in the White House, what is missing is leadership in the White House.”

The Obama campaign responded that the ad is based on a premise that has been disproven, and pointed to the success of president’s plan to bail out GM and Chrysler.

“This is an attack that’s been repeatedly debunked,” Obama campaign spokesman Danny Kanner said. “Here are the facts: President Obama bet on the American worker and now GM and Chrysler are in existence, creating jobs, and posting some of their most profitable quarters in history. If Mitt Romney had had his way, we would have ‘let Detroit go bankrupt,’ and the American auto industry and the more than 1 million jobs it supports would cease to exist.”

Copyright 2012 ABC News Radio


Paul Ryan Links Obama Policies to GM Plant Closed Under Bush

Chip Somodevilla/Getty Images(TAMPA, Fla.) -- In his speech Wednesday evening, Rep. Paul Ryan referenced a Janesville, Wis., GM plant that was shut down, linking its closure to President Obama, who gave a speech there in 2008.  But it turns out the last GM vehicle produced at the plant was in late 2008 when George W. Bush was still president.

“My home state voted for President Obama.  When he talked about change, many people liked the sound of it, especially in Janesville, where we were about to lose a major factory,” Ryan said in his convention speech Wednesday night.  “A lot of guys I went to high school with worked at that GM plant.  Right there at that plant, candidate Obama said: ‘I believe that if our government is there to support you … this plant will be here for another hundred years.’  That’s what he said in 2008.”

“Well, as it turned out, that plant didn’t last another year.  It is locked up and empty to this day.  And that’s how it is in so many towns today, where the recovery that was promised is nowhere in sight,” Ryan continued.

The plant Ryan referenced, which he also brought up at an event earlier this month, made its last GM automobile in December 2008 while President George W. Bush was still in office.  The plant remained open for a few months in 2009 to complete orders on Isuzu vehicles, a company with which GM had a partnership.

In February 2008, Obama told employees at the plant “if our government is there to support you, and give you the assistance you need to re-tool and make this transition, that this plant will be here for another hundred years,” according to USA Today.

The Romney/Ryan campaign noted the plant did not close but went into”standby” in 2008 and remains in that status today, as is noted in a Milwaukee Journal Sentinel article.  The campaign also pointed to a statement released in 2008 by Obama’s campaign that said it would help “retool” plants like the one scheduled to shut down in Janesville.

“I will lead an effort to retool plants like the GM facility in Janesville so we can build the fuel-efficient cars of tomorrow and create good-paying jobs in Wisconsin and all across America,” an Obama campaign statement from 2008 reads.

Copyright 2012 ABC News Radio


Romney 'Delighted' GM is Profitable; Picks Up Mich. Endorsement

J.D. Pooley/Getty Images(FARMINGTON HILLS, Mich.) -- Hours after General Motors announced that it earned its highest profit in its storied history last year, Mitt Romney said he is “delighted” at its success, taking credit for the managed bankruptcy that helped to rescue the struggling corporation, saying he “recommended from the very beginning.”

“I love the businesses of this state, I love the auto industry I want to see it thrive and grow,” said Romney, speaking at a luncheon at the Greater Farmington-Livonia Chamber of Commerce. “I’m glad it went through a managed bankruptcy process which I recommended from the very beginning to shed unnecessary costs and get its footing again. I’m delighted it’s profitable.”

“In my view, this auto industry can continue to lead the world and must continue to lead the world to keep Detroit with a vibrant and prosperous future,” said Romney.

GM reported earnings Thursday of $85 billion in 2011, a 62 percent increase from 2010. The Bush Administration provided $25 billion in emergency assistance to the auto industry -- $13.4 to GM, another $4 billion to Chrysler.  The Obama administration added another $60 billion shortly after President Obama took office.

Romney, a long opponent of the auto bailout, has said the program was an example of “crony capitalism” by the Obama administration, which sought to reward union bosses at the expense of the bond holders.

Romney also officially received the endorsement of Michigan Gov. Rick Snyder during the luncheon, which took place just 17 miles from Bloomfield Hills, the suburb where Romney was raised.

Copyright 2012 ABC News Radio

ABC News Radio