Full disclosure, you can take the day off.
CBS's "The Early Show" included a statement in its Dec. 18 report on the Big 3 bailout from "auto industry analyst," Dan McGinn. Letting the massive car companies fail "would be like 10 Katrinas hitting America at the same time," McGinn asserted. "The American public understands that."
What the report didn't say is that McGinn is also an adviser to General Motors. Furthermore, TMG Strategies the public relations firm McGinn heads, lists GM as a client. McGinn has been making the case for an auto bailout in many news stories and issuing some compelling statements on behalf of his client.
On MSNBC's "Hardball with Chris Matthews," McGinn was labeled as an "auto industry consultant," Dec. 4. There was no mention of his link to GM.
"I mean, come on, are we going to protect the 401ks for people but we aren't going to protect the jobs for people," said McGinn to Matthews. "Chris, this is about jobs, this is about little leagues, this is about churches in America. I worked in West Virginia, my dad worked in a factory for 43 years to get a pention."
It could be that CBS and MSNBC were simply mistaken. After all, why wouldn't an "analyst" and "consultant" to the auto industry list only one automaker among the IBMs, Texacos, Cokes and 3Ms of its client roster?
—Paul Detrick is a research analyst at the Business & Media Institute.
Editor at Large
Comments Policy
This is exactly why the
December 18, 2008 - 14:01 ET by IndigoChillThis is exactly why the public doesn't trust "the media." Shabby reporting.
People like McGinn are part
December 18, 2008 - 14:34 ET by goldbarPeople like McGinn are part of the problem. If he was advising them, it was no doubt bad advice. If management had trimmed their own salaries, golden parachutes, made cars that people actually WANTED to buy, they wouldn't be in the mess they're in.
And don't forget those
December 18, 2008 - 18:28 ET by ckc1227And don't forget those private jets. If not for the private jets, they'd be making money hand over fist, lol.
Libs never let you down. You don't have to talk to one very long before the stupid comes out."
These people ...
December 18, 2008 - 14:48 ET by SentryDanThese people just don't get it. The American people know just what a bunch of crooks head up the big 3. And the MSM is not any better, trying to pass off this McGinn guy as an analyst instead of a PR person for one of the big 3. Can we say conflict of interest, here?
Bankruptcy not bailout is the answer.
Remember folks, Freedom isn't Free. It was bought with the blood and sacrifice of the men and women who are serving and who have served in the U.S. Armed Forces.
For those who fought for it, Freedom has a flavor that the protected will never know.
Citibank got $20 billion
December 18, 2008 - 15:11 ET by goldbarCitibank got $20 billion over a weekend and nobody even blinked, yet the same people whose mantra has been "buy American" are now giving a big f-you the auto industry. Granted, the workers need a reformed healthcare system and retirement plan, but so does management. Senators like Shelby and Corker want to kill the American auto makers because the represent states that have a lot of foreign auto manufacturing like Toyota and Volkswagon. If you let the big three go bankrupt, the autoparts industry and many contractors will go along with them. Millions more will be unemployed and meanwhile the right will be saying "let them eat cake".
"foreign" auto
December 18, 2008 - 15:22 ET by Jack Bauer"foreign" auto manufacturing?
Mmmm. So do you think the FORD auto workers in Liverpool, England are that worried about FORD being a "foreign" auto manufacturer? "Foreign" to them -- that is.
How about all those cars that are manufactured at FORD Halewood, Liverpool. Are they American cars? Or British cars?
And are they paid in dollars, or pounds sterling?
→ May I suggest Toyota Tundra?
December 18, 2008 - 15:35 ET by Cool ArrowToyota manufactures Tundra's over in San Antonio. Seems to me providing employment those workers close to my home is a pretty good idea.
I will have to pass
December 18, 2008 - 16:07 ET by general companyKANSAS CITY, Mo., Oct. 2, 2008 – Ford Motor Company employees at Kansas
City Assembly Plant today celebrated the production of the new 2009
Ford F-150, which offers the most capability in the full-size pickup
market with unsurpassed fuel economy.
St. Louis North Assembly Plant Produces Its One Millionth Dodge Ram
Dodge and Ford can compete with anyone, at least in product. Many of the plants operated outside of the States are for vehicles also bought outside of the States, also I should add that they are not in the dire predicament of those operating in country. : [
Not sure what the solution should be, maybe a loan tied to some restructuring, or chap 11, but it will be a sad day in America when these 2 car manufactors are no longer mentioned.
"Television is a freak show" Bernie Goldberg
→ So true gc
December 18, 2008 - 16:17 ET by Cool ArrowMy preacher has a trailer made from the bed of an old Studebaker. Every time I go to church I see that old trailer and am reminded of the glory days of the American Automobile industry.
I think I can rest easy buying an American made automobile regardless of whose name is on the decal. The Ford Mustang, btw, is less American than the Toyota Tacoma manufactured in Calif.
So true to
December 18, 2008 - 18:35 ET by general companyreminded of the glory days of the American Automobile industry.
What is sad, the union killed many of these car manufactors as well, SB, Packard, Hudson, seems we never learn
My Grandfather was an engineer for Studebaker, I used to own a 60' pickup built by SB. I bought it down here in 84' in La for 1500.oo, and rebuilt the engine (a striaght 6 flathead) cleaned it up and drove it the next year to South Bend (my home town) for the anual SB rally and sold it for 10k. Great looking truck, kinda wish I had kept it.
"Television is a freak show" Bernie Goldberg
The difference is that the
December 18, 2008 - 16:00 ET by goldbarThe difference is that the British government provides healthcare which greatly decreases the cost of production. If we had that in this country, the big three would be doing much better.
If we had that in this
December 18, 2008 - 18:21 ET by ckc1227If we had that in this country, we'd all be screwed, the Big 3 included.
By the way, when did they get nationalized health care in the foreign-owned car factories in South Carolina, Texas, etc?
"Libs never let you down. You don't have to talk to one very long before the stupid comes out."
LMAO - Socialist Health Care will make it worse!
December 18, 2008 - 22:37 ET by PopularTech20/20: Sick in America (1/6) (Video) (9min)
20/20: Sick in America (2/6) (Video) (7min)
20/20: Sick in America (3/6) (Video) (7min)
20/20: Sick in America (4/6) (Video) (5min)
20/20: Sick in America (5/6) (Video) (6min)
20/20: Sick in America (6/6) (Video) (6min)
The Big 3 are doing bad because of the Unions and poor management, all of it is THEIR FAULT.
Where Would GM Be Without the United Automobile Workers Union? (George Reisman, Ph.D. Professor Emeritus of Economics)
"Without the UAW, General Motors would not be faced with extinction. Instead, it would almost certainly be a vastly larger, far more prosperous company, producing more and better motor vehicles than ever before, at far lower costs of production and prices than it does today, and providing employment to hundreds of thousands more workers than it does today. Few things are more obvious than that the role of the UAW in relation to General Motors has been that of a swarm of bloodsucking leeches, a swarm that will not stop until its prey exists no more. It is difficult to believe that people who have been neither lobotomized nor castrated would not rise up and demand that these leeches finally be pulled off!" - George Reisman, Ph.D. Professor Emeritus of Economics
Carbon Dioxide (CO2) is Not Pollution
Bogus Argument
December 18, 2008 - 22:53 ET by dboThe difference is that the British government provides healthcare...If we had that in this
country, the big three would be doing much better
GM, Ford and Chrysler are 3 little piggies lining up at the trough in Canada just like in the US. The federal government in Canada has pledged the same bailout to the big 3 pending if/when they settle in the states.
dbo... I think the big 3
December 18, 2008 - 23:00 ET by Clear thinkerdbo...
I think the big 3 made a big mistake when they went to congress asking for a handout. If it was me, I would have sent the Union heads to congress to argue for the bailout, not the CEO's. The check would have been signed by the end of the day!
Polar Bear Commits Suicide
Making Fun of AGW http://giovanniworld.wordpress.com/
LOL, I think you're right.
December 18, 2008 - 23:08 ET by dboLOL, I think you're right. It amazes me that people bring up all these economic arguments and it never occurs to them it's all about electoral votes.
Yep! Polar Bear
December 18, 2008 - 23:13 ET by Clear thinkerYep!
Polar Bear Commits Suicide
Making Fun of AGW http://giovanniworld.wordpress.com/
"Citibank got $20 billion
December 18, 2008 - 18:12 ET by ckc1227"Citibank got $20 billion over a weekend and nobody even blinked, yet
the same people whose mantra has been "buy American" are now giving a
big f-you the auto industry."
Can you libs ever make an argument without having to lie? Conservatives haven't been happy with any of these bailouts. But forgetting that, what does "buy American" have to do with propping up failed American industry? Somehow, I don't think anyone means steal taxpayer money to prop up the failed domestic automotive industry when they say "buy American".
By the way, when did you libs become such a fan of and friends of big, evil corporations?
"Libs never let you down. You don't have to talk to one very long before the stupid comes out."
Only Socialists Support an Auto Bailout
December 18, 2008 - 22:34 ET by PopularTechMay you missed something but I didn't support ANY bailouts. Two wrong do not make a right. I am curious as to when you became a socialist or do you just not understand free market economics?
Big Three Bailout - Give Me a Break (Video) (5min) (John Stossel, 20/20)
Big Three Should Stand On Their Own Feet (ABC News)
Detroit Needs Drilling, Not Bailouts (FOX News)
Don't Bail Out the Big Three (The American)
Let Detroit Go Bankrupt (The New York Times)
Say No to the Auto Bailout (CNN)
There's nothing wrong with a "Big Two" (New York Daily News)
Why Bankruptcy Is the Best Option for GM (The Wall Street Journal)
Honda opens new U.S. plant as Detroit seeks bailout (Reuters)
Majority of Public Opposes Auto Rescue (The Washington Post)
The Real Price Of The Auto Bailout - $125 Billion (CBS News)
Carbon Dioxide (CO2) is Not Pollution
Good post.....Valuable
November 6, 2009 - 04:51 ET by Baboon74Good post.....Valuable information for all.I will recommend my friends to read this for sure…
Scooters London