| WELCOME TO TIPS & TRICKS this months trick is titled THE BAIL OUT November 2008 This is a little something different than I usually put out under the title tips and tricks however I think it still qualifies because we all stand to lose if we lose one of the big three. To my family and friends, You all know the huge role General Motors has played in my life. I have been proud to work for GM for the last 34 years. You will also admit that I try to be objective when it comes to our performance, seeking to fix areas of improvement, and not turn a blind eye. We haven’t always made the best products in the world, but that’s not the case today. I’m not going to take up your time with a sales pitch about GM, but I think you’d agree, GM is making the best products it ever has, the most vehicles that get over 30 mpg, the most with 5 star safety, import level quality and styling, the most hybrid models, and soon the Chevy Volt electric vehicle. In short, we have our act together, and can compete with anyone. The problem we face is the same one the rest of America faces. The housing crisis has paralyzed the credit market, and the automobile business relies on the credit market. When was the last time you paid cash for your car? You either leased or financed it. Our government understands the role that credit plays in the economy. That’s why they gave the banks $700B. Why now are many reluctant to apply the same logic to the single largest manufacturing sector in our economy? All we’ve ever asked for is a level playing field. Almost all of our import competitors don’t fund their employee’s health care. Their governments fund them. The Japanese have been manipulating their currency for the last decade. They have been literally dumping their products in this country for over 10 years. Yet we have to pay exorbitant tariffs if we want to sell in theirs. Here’s a stat that sums it up: In any country that there is a level playing field, GM outsells Toyota. The only two that we don’t? Japan and here in the US. Go figure. A new study by the highly-respected Center for Automotive Research (CAR) concluded that if all three U.S. automakers were to cease operations, the U.S. economy would lose 2.95 million direct and indirect jobs in the first year. Governments would lose at least $156.4-billion in taxes over the first three years. Make no mistake, the collapse of the domestic auto industry would plunge our already fragile economy into a deep recession – costing American taxpayers far more than the cost of taking action now to help this critically important industry weather the economic storm. I and the rest of our country need your help. If you could spare two minutes and visit http://gmfactsandfiction.com/ and click on “I’m a Concerned American” on the right hand side, we’ve developed a quick and easy way for you to let your elected representatives know you support legislation that would help the automobile industry. May I also ask that you cascade this message to your friends, family and business associates that are also concerned about the potential impact losing our domestic automobile industry would have on this country. In closing, let me stress, we are not looking for a bailout. We are asking for a bridge loan that would be repaid in full, with interest. I hope you can take a few minutes and make a difference. Best Regards, Mike Valerio VIA LeonTheLink Happy motoring; see you next month |
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