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BMW Seeks Olympic Gold (7/27/12)

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  1. General Motors1:16
  2. new cars4:24
  3. BMW0:41, 1:08, 1:44
  4. GM2:12, 2:41
  5. Automotive News3:20
  6. Troubled Asset Relief Program2:32
  7. opening ceremony0:20
  8. track and field0:59
  9. American viewers1:02

Fri, 27 Jul 2012|

Chevy, Jeep also advertising in London games; book says U.S. ignored dealership job losses; Lapham: Car-share sickness.


Automatically Generated Transcript (may not be 100% accurate)

Let the games begin. Auto makers hope to cash it during the Olympics. Whose favorite will tell you. That. Thanks so much for joining us on this Friday. The opening ceremony of the 2012 summer Olympic Games in London taking place today. In in the days that follow hundreds of millions of people across the globe will be tuning in to watch some of the world's greatest athletes in action. And when it comes automotive advertising. To borrow a term from tennis. Advantage BMW. For starters the company is the official automotive partner of the Olympics. It is sponsoring a fleet of 3200. Vehicles that will shuttle athletes in VIPs around London. The automaker is also a sponsor of the US track and field in swimming teams. And American viewers will be seeing plenty of BMW's. During NBC broadcasts. Because BMW. Is the only import brand that will advertised during the games. General Motors however has scored exclusive domestic rights. For the NBC broadcast. And we'll use the platform to launch the Cadillac eighteen yes. Which it hopes will compete with the -- -- three series. To hoops now weird -- has latched on to the US men's and women's basketball teams. It's been using TV print in social media to promote the bond. Back to BMW which is built this enormous pavilion with in the Olympic park to showcase its cars. Well it turns out the German auto maker's dominance sponsorship. And all the rules that go with it. Is a reason some companies like Honda and Ford. See they'll be sitting out these games. And one of the problems our financial system is adequate guaranteed the government we Calvin now. There's a new tell all book on the US led bailouts of GM Chrysler and big banks. In this one provides at least some vindication. For hundreds of dealers whose franchises were terminated. The book is simply titled bailout. Its author Neil Borowski. He's the former special inspector general for the Troubled Asset Relief Program or TARP. According to the Detroit news. Borowski says the Obama administration. Pressed GM and Chrysler to close dealerships without regard to the resulting job losses. He came to a similar conclusion in his official report on the closings in twenties had. About 750. But the 2800. Dealers targeted. One reinstatement. In arbitration. Dialer said this week it's again expanding its -- to -- service. Which provides Smart -- for people to rent by the hour. Just the latest example auto makers getting deeper and deeper into car sharing. But is the industry borrowing trouble here's Automotive News executive editor Edward Latham. New. Car sales are getting stronger. But there's an emerging social disease especially among young people. That threatens to infect the long term trend line it's called car sharing and it's despicable. For example. Zip car allows people -- rent cars for short trips in and around some urban areas including right here in the motor city imagine. It's similar to the Amsterdam bicycle model. If here in Amsterdam you need to write you grab a bite out of a bike rack when you're done you leave it for somebody else to use. Economists call it consuming the utility. But it reminds me of the way some people dated back in the sixties. Now even star allows its subscribers. To hook up and share cars and BMW financial services is testing short term -- Look I know the economy is a factor. Half the people under age 25 don't have jobs they can't afford new cars but they still have needs. Hopefully when the economy finally does recover younger Americans will be ready to settle down with cars of their own. I'm Edward -- and that's how IC. Thanks dead and don't forget to tune in the first shift with Jennifer -- first thing Monday morning. Have a great weekend. We'll see you back here on Monday afternoon.

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