Jim Taylor on Whether the U.S. Government Should Bailout the Auto Industry

Cadillac President Jim Taylor on the discrepancy between banks and automakers.
  • Transcript

TRANSCRIPT

Question: Is the government offering the auto industry enough support in its transition to a post-petroleum system?

Taylor:    It is… I think it’s a fascinating subject and again, it’s a little dangerous to touch but it’s interesting that [IB] grossly oversimplify it, you know, and in our case, as part of the bill, it’s passed, that says, okay, well, [IB] you 25 billion loan and [IB], not bailout, not gift, not give, loan you 25 billion and then we come to, several months later, to a new [IB] and all of a sudden, an entire other industry, it melts down on a weekend and people rush to the table to look for a 6, 700 billion dollar gifts and the energy level around that is so high, compared to trying to find out reasons not to loan us 25 billion, it’s fascinating subject.  Even this morning, [IB] reading an article, you know, all the articles in the papers [IB] Wall Street Times and USA Today [IB] not fair but, you know, one of the US Senators talking about, “Well, I’m not a fan of the US auto industry.”  I thought to myself, “What are you thinking?”  I mean, “What are you thinking? I’m not a fan of US auto industry.”  You’re not a fan of jobs?  You’re not a fan of manufacturing? Not a fan of technology?  I mean, how he can say that and… and… again, I’m not going to say where he’s from [IB] auto plants and auto manufacturing and [IB] domestic.  Okay, there’s [IB] back to Chryslers since, you know, their separation from Daimler but there’s a huge automotive installed manufacturing and job base as with Honda or Toyota, there’s a lot of manufacturers here.  This is… this is a significant industry with a significant impact on the employee of this country in a tax base and some… the government officials, not all, [IB] their attitude towards to this industry escapes me.


×