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Debating the Bailout (10/17/12)

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Tags:

  1. presidential debate0:23
  2. General Motors0:39, 1:13
  3. college graduates0:29
  4. Gasoline prices2:12
  5. President Obama0:32
  6. GM's3:11
  7. governor Romney's0:33
  8. 7-Eleven1:02
  9. National Automobile Dealers Association2:26

Wed, 17 Oct 2012|

Romney, Obama spar over industry rescue; NADA's next chiefs; GM's Reuss gets a laugh; Martha Stewart touts Toyota

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Automatically Generated Transcript (may not be 100% accurate)

Good to see you on this Wednesday I'm Jennifer bond. Just ahead white -- yeah is teaming with Martha Stewart. First let's get into your headlines. The rescue of the auto industry a tough topic in last night's presidential debate. And it followed at the very first question about jobs -- college graduates. First President Obama brought up governor Romney's op Ed piece. -- in a month before George W. Bush had General Motors and Chrysler afloat with that first round of US rescue loans. Romney wasting no time in explaining how he would have handled the industry's crisis. One thing that that the president said which I wanna make sure that we understand he he said that I said we should take to try to bankrupt. At at and that's right my plan was to have the company goes through bankruptcy like 7-Eleven did it may season and that -- airlines and come out stronger. And and I know he keeps saying you wanted to take a trip bankrupt well the president took Detroit bankrupt you took General Motors bankrupt. You took -- are bankrupt so when you say that I wanted to take the auto industry bankrupt you actually did. And and I think it's important to know that that that was a process that was necessary to get those companies back on their feet. So they could start hiring more people that was precisely what I recommended and ultimately what happened. Obama's response. Governor Romney -- just isn't true. He won take them into bankruptcy without providing them any way to stay open. And we lost two million jobs. And that don't let my work for protect the executives at GM and Chrysler some of whom are Republicans made in -- governor Romney. They'll target prescription wasn't a war. Bloomberg was among the post debate fact checkers that that a Romney mischaracterized. His own recommendation. Several also pointed out that private loans weren't available at the time. Gasoline prices fuel efficiency and higher imports. Among the other auto related issues that surfaced in the ninety minute town hall debates. It's official did last time will chair the National Automobile Dealers Association. Next year. And -- McConnell will be vice chair putting him in line to steer the group and when he fourteen. That dealers were nominated in June the NE DA board has now formally elected then. The association. Is still looking for a precedent to replace -- Brady who -- in August. Andy DA has said it's looking for someone until we more and file lasts especially in its dealings with auto makers. Finally -- home into courtesy of GM North America president mark Royce. He would trust members of the society of automotive engineers yesterday. And announced GM's planned to build a plug in hybrid Cadillac yellow are at a plant in Detroit. The represents an additional 35 million jobs. And and sucked -- -- that jobs investment. Relevant myself -- -- would that be great and it wouldn't don't care about the selection. You know her and they doing your cell expert. Let me show you how to make these on now Martha Stewart is teaming with Toyota. Our sister publication had -- says that Japanese carmaker is launching a campaign this week. As part of Stewart's American made initiative. That effort conceived by the TV personality. Promotes American artist brands -- US made products. She explains the reason behind it on NBC's today show. Yesterday. We're trying to do is really focus on the hand made the hole made the entrepreneurial. Which would then encourage other entrepreneurs. In their initiatives so that we will build business and manufacturing backed into America. Toyota's campaign touts the redesigned -- line which was designed engineered and developed in North America. Short video aspect means feature -- getting a behind the scenes tour of the carmakers Georgetown Kentucky at -- -- Where the car is built. The Avalon goes on sale next month. That is -- time for now if you're on Twitter west at first underscored -- we'll see you tomorrow.

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