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Debating the Bailout, Again (10/23/12)

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  1. General Motors3:03
  2. President Bush0:37
  3. Barack Obama0:26
  4. President Obama0:54
  5. GM3:14
  6. Automotive News4:11, 4:19
  7. Don Johnson3:37
  8. bail out0:31
  9. candidates Mitt Romney0:24

Tue, 23 Oct 2012|

Candidates veer off foreign policy course to talk autos; Tesla's Musk, franchise critics; bass beat GM bonuses


Automatically Generated Transcript (may not be 100% accurate)

It's Tuesday its first checked and I'm Jennifer bond. What a Chevy dealer is giving up to keep -- statue and more we'll tell you after these headlines. Don't focus was supposed to be foreign policy. But presidential candidates Mitt Romney and Barack Obama. Still find a way to exchanged heated words about the auto bail out in their final debate last night. First governor Romney. Was President Bush that wrote the first checks I disagree with that I said they need these companies need to go through -- managed bankruptcy. And in that process they get government help and government guarantees but they need to go through bankruptcy to get rid of excess cost and the debt burden that they'd they'd built up. Then President Obama. Got -- you keep on trying to. Oh airbrushed history here you're very clear. Bet you would not provide. Government assistance. To the US auto companies. Even if they went through bankruptcy you said that they could get it in the private marketplace that wasn't true. Each candidate accused the other of being wrong. Debate fact checkers have found some truth in some truth stretching in both arguments. Tesla CEO Elon Musk is defending his company's retail strategy. In a Monday blog Moscow said it Tesla doesn't want to change their franchise has -- And has taken great care not to act in a manner contrary to those roles. Dealers in Massachusetts and New York has sued the electric vehicle maker. Seeing its company owned stores violates state franchise laws and consumer protection laws. Among -- points. Cast -- has please outweigh than shopping malls and other high traffic place this in order to quote. Advanced knowledge of EVs in a convenient and accessible. No pressure environments. And so forth credits CEO Mike Bannister is retiring and January 1. After a 39 years at the capital finance company. He will be replaced by 56 year old chief operating officer Bernard Silverstone. Now check without. If 45 foot waterfall. Large aquarium and imprints of animal tracks on a concrete floor. -- -- the day you might think you're at an outdoor specialty shop. In fact that's what Chevy dealer mark heights of going far. He modeled his dealership after outfitter bass pro shops your adventure starts here. Since opening his million dollar store in 2008. It has become a landmark in Norman Oklahoma. Just one problem. General Motors says the store fails to comply with Chevy's new facility standards. To keep getting about 250000. Dollars per quarter from GM in -- excellent incentives. Said he would have to make his building look like thousands of other shopping stores across the nation. That means treating the logs currently on the exterior. For that and live aside. And covering those animal tracks on the showroom floor with great tiles. -- -- chief Don Johnson in giving -- the word. After appealed break compromised during Johnson's visit on September 28. -- is that it has mainly clear top all of Steelers. That is still compliance with required for those payments. So heights -- decision. Believe they give up on that one million dollar yearly bonus money so that he can keep this store just wait it is. He says customers Moffett he sold 19100 new vehicle last year. For more on this story yesterday Automotive News print edition. Finally calling all suppliers. Afternoon Automotive News will be hosting a webinar. And -- can keep pace after cutting costs and capacity during the procession. Day and Sharkey a lawyer specializing. In supply contracts will not waste to take full advantage of the industry's comeback. By may in contracts to meet customers' expectations. For detail and to -- out this bit -- Slash power training. Thanks so much for watching the first set. We'll see you back here tomorrow.

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