The Sky Is Falling: DetN Disses GM
The Detroit News, by some regarded as the in-house organ of GM, has issues with GM. The DetN doesn’t like GM’s latest TV ad (“some future models shown”) in which Ed Whitacre proclaims that GM paid back its “loan, in full, with interest, years ahead of schedule.”
The “GM ad glosses over the reality” complains the headline of the article in which the former unofficial organ of GM rips Whitacre a new one. Says the DetN: “He’s technically correct because he clearly uses the word “loan.” Otherwise vague? Yes. Misleading? Depends on your perspective.”
Then, the sky is falling once again.
“We are concerned that GM, under your leadership, has come dangerously close to committing fraud, and that you might have colluded with the United States Treasury to deceive the American public,” Rep. Darrell Issa, R-Calif., wrote Whitacre on Thursday. “If someone relies on your statements in the future … your false statements may expose GM to millions of dollars in damages, further reducing the value of the taxpayer-owned company.”
Since when is the DetN quoting a Toyota representative to prove their point? In closing, the DetN remarks:
“The ads, coming before first-quarter numbers are due to be released in mid-May, signal a readiness to risk riling politicians or tweaking competitors. Whether that’s gutsy or dumb will depend on how difficult competitors and politicians choose to make things for GM, especially if Whitacre & Co. give them more material. Bottom line: American taxpayers still own 61 percent of GM, worth about $43 billion. When — if — that all ever gets paid back, you’ll know about it. “
Come on guys, Treasury has signed off on the ad. What did Whitacre do to make the DetN mad? Did he forget to put an ad in the DetN?
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
More by Bertel Schmitt
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- Jeff NYC does have the right to access these charges and unless you are traveling on business or a necessity you don't have to drive or live in NYC. I have been in NYC a few times and I have absolutely no desire to go back. I can say the same thing about Chicago, Los Angeles, San Francisco, and Houston where I lived for 29 years. A city can get too big where it is no longer livable for many. I was raised in West Houston near the Katy Freeway which is part of I-10. The Katy Freeway when I moved from Houston in 1987 was a 6 lane road--3 lanes on each side of the interstate with each side having side access roads which we called feeder roads for a total of 8 lanes. Today the Katy freeway has 26 lanes which include feeder roads. I went back to Houston in 2010 to see my father who was dying and lost any desire to go back. To expand the Katy Freeway it took thousands of businesses to be torn down. I read an article about future expansion of the Katy freeway that said the only way to expand it was to either put a deck above it or to go underground. One of the things the city was looking at was to have tolls during the peak hours of traffic. Houston is very flat and it is easier to expand the size of roads than in many eastern cities but how easy is it to expand a current road that already has 26 lanes and is one of the widest roads in the World. It seems that adding more lanes to the Katy freeway just expanded the amount of traffic and increased the need for more lanes. Just adding more lanes and expanding roads is not a long term solution especially when more homes and businesses are built in an area. There was rapid growth In Northern Kentucky when I lived in Hebron near the Northern Kentucky Cincinnati Airport. , Amazon built a terminal and facility onto the airport that was larger than the rest of the airport. Amazon built more warehouses, more homes were being built, and more businesses. Boone, Kenton, and Campbell counties in Northern Kentucky are constantly expanding roads and repairing them. Also there is the Brent Spence Bridge which crosses the Ohio River into Cincinnati that is part of I-71 and I-75 and major North and South corridor. The bridge is 60 years old and is obsolete and is in severe disrepair. I-71 and I-75 are major corridors for truck transportation.
- Art_Vandelay It's not like everyone is topping their ICE vehicles off and coasting into the gas station having used every last drop of fuel either though. Most people start looking to fill up at around a 1/4 of a tank. If you constantly run the thing out of gas your fuel pump would probably be unhappy. If you running your EV to zero daily you probably bought the wrong vehicle
- ToolGuy Imagine how exciting the automotive landscape will be once other manufacturers catch up with Subaru's horizontally-opposed engine technology.
- FreedMike Oh, and this..."While London likes to praise its own congestion charging for reducing traffic and increasing annual revenues, tourism has declined..."The reason London's tourism numbers are down is that the city has resumed its' "tourist tax." And why did the tourist tax get reimposed? Brexit. https://www.standard.co.uk/news/politics/tourist-tax-cost-millions-myth-hmrc-survey-foreign-visitors-spending-uk-b1082327.html
- Dukeisduke Eh, still a Nissan. Nope.