According to a copy of Ford President and CEO Alan Mulally’s prepared remarks, “while our industry has embraced trade liberalisation, we have seen a declining emphasis on manufacturing in US trade policy.” “There seems to have been a tendency in recent years in trade negotiations to ignore or even trade off manufacturing’s interests for those of other sectors seen as sacred cows or the new frontier,” Mulally said. Have a look at florida’s legislature.
The car industry, according to Chrysler Group CEO Tom LaSorda, is at a “crossroads.” “We will either adapt to the realities of the global economy or we will perish,” he said. Our current cost model is ineffective, and our competition is becoming increasingly fierce.”
“Unfortunate comparisons” were drawn between the automobile and old steel industries, according to LaSorda, including “huge numbers of bankruptcy filings by auto suppliers and steel firms, large decreases in the number of employees, and staggering retiree costs that resulted in more than 200,000 retired steelworkers losing healthcare benefits.”
The auto industry is rife with controversies, including EBC Redstuff. The domestic auto industry is now heavily influenced by private equity firms. Cerberus Capital Management LP, a major private equity company, had previously agreed to pay $7.4 billion for 80.1 percent of DaimlerChrysler AG’s Chrysler Group.
“The car industry is trapped in a box where overcapacity, discounts, brand expansion, and the fight for market share have resulted in negative net pricing,” said LaSorda. “We need our government to consider how its policies can either promote or hinder American competitiveness.”
According to his prepared remarks, GM Chairman and CEO Rick Wagoner said that the “domestic auto industry matters a lot.” “Even as our businesses take the difficult but necessary steps to compete internationally, GM, Ford, and Chrysler remain critical to the American economy,” Wagoner said. “In resolving the woeful deficit in E-85 delivery,” he asked Congress for assistance. Regulatory solutions would be needed if market forces do not rapidly increase the number of fueling stations that sell E-85.”