UAW to TARP Oversight Panel: FOAD

Edward Niedermeyer
by Edward Niedermeyer

The Congressional Oversight Panel, tasked with monitoring TARP expenditures, is holding hearings on the auto bailout. Even as you read, Wayne State University is home to serious CYA action. In the blue corner: the post-Rattner head of the twenty-four (now) member Presidential Task Force on Automobiles (PTFOA) Ron Bloom. Big Ron II is expected to hew even more closely to its previous proclivity for a passive/aggressive approach to GM’s non-management management. “Given the emergence of the new GM and the new Chrysler, the involvement of the Auto Task Force with the companies will now change,” Bloom told the panel [via Market Watch]. Once again, Ron proclaims that only “core governance issues including the selection of a company’s board of directors and major corporate events or transactions” will be subject to PTFOA meddling going forward. (After all, they’ve got Advertising Czar Bob Lutz to handle the little things like “crapping on advertising.”) But even though the White House is on hand to show how easy putting your best platitude forward can be, the UAW won’t be joining the testimonial fun.

The Congressional Oversight Panel isn’t happy about the non-development. “The UAW came before Congress and pleaded for billions of taxpayer assistance,” GOP member Rep. Jeb Hensarling tells the Detroit News. “Their ownership stakes in Chrysler and GM look suspicious at best and like sweetheart deals at worst. It’s outrageous they would benefit from the taxpayers’ money and then refuse to testify about it.”

Outrageous, yes. But not entirely unexpected. Hensarling said it himself . . . “Without [the UAW], the panel cannot provide meaningful oversight for $80 billion of taxpayer support rewarded to Chrysler and GM.”

Edward Niedermeyer
Edward Niedermeyer

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  • WildBill WildBill on Jul 28, 2009

    Aqua makes a good point, don't screw your local economy because you are mad at Detroit (and DC!). If the dealer is giving you a good deal and/or good service, continue to work with them by throwing your parts/repair/body shop/used vehicle business their way. Stay away from the bad ones. Lobby your representatives to get the gov. out of the auto business and quit favoring the UAW (as if!).

  • GS650G GS650G on Jul 28, 2009

    Oversight? What? The UAW is entitled to all that money and more. Building cars is a sacred task that reflects national sovereignty and the American way. If it costs tens of billions to maintain the status quo then just shut up and pay it. You can thank the UAW later. I was actually considering an American made vehicle this year. Forget it. I'm going with their competition and driving another small nail into the box. Don't tell us to be patriotic and buy American, we already gave at the office.

  • Lou_BC While we discuss Chinese cars, Chinese politics, and Chinese global desires, I'm looking at TTAC and Google display advertising for Chinese tires. They have nukes aimed at us but their money and products are acceptable to consumers and business?
  • TheTireWhisperer And a thankful Memorial day to all.
  • Kwik_Shift_Pro4X Take some time today to realize that virtually zero soldiers had died defending your border.
  • Tassos As somebody who is NOT a stupid fanatic about EVs one way or the other:No manufacturer has built a "Better Tesla" EV yet. Most have tried, we wait for TOyota only (last hope for the Tesla haters)UNLESS a DIRT CHEAP Model 2 comes along (will never happen in the next 2 or 3 years), Do NOT expect that 7% to go to even 10%, let alone the ... 30% clueless Idiot Joe Biden voters expect. If anything, PLUG INS and HYBRIDS may, in the SHORT term, bring the 7% down.
  • Pig_Iron 💝
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