What's The Diff?

The things Quicken Loans team members care about and want to share with the world

Supporting the US Auto Industry

Another pitch from MS&L Digital. As a Detroiter, this one is close to home so I think it’s worth a mention.

From Charlie:

I’m writing today to tell you about what the collapse of General Motors and the American auto industry would mean to the country.

I’m sure you’ve heard about some of the issues facing GM, but did you know that:

  • One out of every 10 people in America is employed in a service that is related to the U.S. auto industry
  • More than 239,000 Americans are directly employed by the (Detroit) Three
  • If GM were to discontinue operations, the cost to local, state, and federal governments could reach $156.4 billion over three years in lost taxes, and unemployment and health care assistance

I wanted to share this information with you because

Next week (ed. note: actually it was this week), Congress will meet to decide whether to provide immediate relief to U.S. automakers.   I’m hoping you’ll consider learning more about the situation at  http://gmfactsandfiction.com/ and sharing the information with your readers. The site offers comprehensive information about the current crisis as well as ways to get involved, spread the word and share your opinions. You and your readers can even e-mail your U.S. Senators and Representatives directly from the site.

So there you have it. I’m no big fan of our government jumping in to bail out struggling business plans, but as a Detroiter and Michigander, I just can’t sit by and preach my Libertarian ideals while the domestic auto industry collapses. The result for Michigan, Ohio and much of the country would be economic disaster.

Take some time, read about this and give us your opinion.

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Comments

  1. Seth had a great post today about Detroit auto: http://sethgodin.typepad.com/seths_blog/2008/11/what-to-do-abou.html

    Posted by: Dave | November 21, 2008
  2. I think you hit it with your last point. We all have ideals but this is a time to be pragmatic not constrained by free market ideology. And it’s especially not the time to do nothing.

    Posted by: DTownie, fellow Detroiter | November 23, 2008

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Monday, October 20, 2014