Fighting for American Industrial Renewal; Industry and Manufacturing Advocacy Group for public Education

Further reading material...

How the Press Helped Destroy the Auto Industry

Detroit's Collapse: the Untold Story    

By EAMONN FINGLETON

Click to read the full article at CounterPunch.org

...For decades American press coverage of global car industry competition has been abysmal. Reporters and commentators have almost never dug below the surface and their idea of fact checking has too often consisted merely of "accurately" recycling previous observers' errors. Worse many commentators have displayed an almost venomously elitist bias against Detroit. In short, readers of the American press have been fed a diet of falsehoods, while key facts that give the lie to the foreign trade lobby’s special pleading have been swept under the carpet.           

Much of the most egregious press coverage moreover has emanated from writers and editors at some of the most “respected” media organizations, not least the Wall Street Journal, the Economist, the Washington Post, and the New York Times. Reuters and Associated Press have not been far behind  and even the automobile trade press has often unforgiveably spun the story to Detroit's great disadvantage...



 

Mom, Apple Pie, and Hyundai?      

The auto industry has been a bulwark of the American middle class. If Wall Street warrants a bailout, why not Detroit?    

By Pat Choate

Click to read the full article at The American Conservative 

...The primary causes of the current U.S. auto-industry crisis are threefold: a financial freeze in which even well-qualified borrowers are denied credit to buy vehicles; fluctuating oil prices that have driven the price of gasoline from less than $2 per gallon to more than $4 and then back to $2, all in less than 10 months; and a consumer panic that has cut retail sales to 15-year lows.

The failure of the U.S. Treasury Department and Securities and Exchange Commission to monitor, let alone regulate, Wall Street has created today’s financial wreckage and the resulting consumer panic. And despite the obvious need for a far-sighted energy policy, the last four presidents and Congress have done little but encourage more drilling.

The longer-term inability of America’s auto industry to export competitive products has its origins in U.S. trade policies that accept closed foreign auto markets and the payments of massive export rebates by other governments to their automakers. How can U.S. automakers be expected to compete in a world where German producers get a 19 percent export subsidy on every vehicle sold in the United States, China undervalues its currency by up to 50 percent, Japan keeps its auto market tightly closed, and the U.S. government allows South Korean automakers to sell more than 700,000 subsidized vehicles in this market annually, but tolerates Korea’s restriction of U.S. imports so tightly that fewer than 7,000 American-made vehicles are sold there each year? The Big Three and the UAW are not at fault for these distortions of competition...


 

Auto Bailout: Et Tu, Toyota?

To raise funds, the top automaker is asking for a loan from the state-backed Japan Bank for International Cooperation