Patterson calls Romney's bankruptcy idea 'way off base'

[Bozita]

Source: Detroit Free Press

Patterson calls Romney's bankruptcy idea 'way off base'
BY CHRIS CHRISTOFF • FREE PRESS LANSING BUREAU • NOVEMBER 19, 2008


Mitt Romney stunned at least one of his most ardent Michigan political backers, when he wrote in an op-ed piece in today’s New York Times that U.S. automakers should be allowed to fall into bankruptcy rather than obtain a $25-billion emergency federal loan.

Romney, the former Massachusetts governor and son of Michigan’s former Gov. George Romney, wrote that the automakers need to drastically cut costs, replace their management and spend more money long-term to develop fuel-efficient, more desirable vehicles.

“A managed bankruptcy may be the only path to the fundamental restructuring the industry needs,” Romney concluded in an opinion piece.

Fumed Oakland County Executive L. Brooks Patterson: “I can't believe those words tumbled out of his mouth. I think Mitt is way off base on this one. I'm disappointed because I'm a big fan of his.”

Read more: http://www.freep.com/article/20081119/BUSINESS01/81119058

[babylonsister]

1. Romney "I have economics in my DNA"? Ha! nt

[90-percent]

2. Mitt's daddy

Was also CEO of American Motors back when the only race they cared about was the human race.

Another of many suggestions for the big three is to hire a team of futurists. They seem collectively to pin their hopes on the future never happening. At least that's what they've been doing since the first 1973 OPEC oil crunch.


-90% Jimmy

[denverbill]

3. Not to worry L. Brooks Patterson. He'll have a different position on that in 2012. n/t

[nyc 4 Biden]

4. I had to stop reading Romney's Op-ed this morning when..

...I came across this beauty...

"First, their huge disadvantage in costs relative to foreign brands must be eliminated. That means new labor agreements to align pay and benefits to match those of workers at competitors like BMW, Honda, Nissan and Toyota. Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers."

Right Mitt, we have to lower the pay of our workers to match those overseas. Why don't we get some 10 year olds in that factory while we are at it.

[malletgirl02]

6. BMW

The funny thing is, I don't know about the others, but since Germany has universal health care, BMW doesn't have to pay many of the same benifits American companies have to pay.

[HopeHoops]

5. Mitt's hair did the thinking on this one.

[Submariner]

7. Another near-do-well who got his start with Poppy's money

Sound familiar? Another cockroach like Dubya. His Romneycare health insurance scam is a piece of crap, just like his idea to sink Michigan.

[Romulox]

8. What's Mitt's DU username? nt