Bill Ford Calls for National Industrial Policy, Gas Price Stabilization
By Michelle Krebs June 16, 2009
DETROIT - Ford Motor Co. Chairman Bill Ford Jr., kicking off a National Summit in Detroit this week, called for the U.S. government to establish a national industrial policy aimed at bolstering the nation's competitiveness and to institute a policy that would stabilize "gyrating" gasoline prices.
"The industrial base is eroding and prosperous nations don't let their industries erode," Ford said. "Government, industry and academia all have to be on the same page. Too many times they throw bombs at each other rather than working together."
More than 100 executives, including the heads of high-tech firms such as Google and Microsoft, are meeting in Detroit for three days to discuss policies, technologies and manufacturing.
On the sidelines, Bill Ford told reporters he backed President Obama's bail out of Chrysler and General Motors because it protected the supply base, including suppliers who provide parts to Ford. However, he said the government should be transparent in its dealings with Ford's competitors.
"It's really important that we have clarity and transparency into GM and Chrysler, not we as Ford, but we as Americans," Ford said in an interview on Bloomberg radio. "It's really important, with all the taxpayer money in there, that taxpayers have a real sense of how decisions are being made and what decisions are being made."
Ford described competing against automakers like GM and Chrysler, in which the government now owns hefty stakes, as "a little bit surreal." But he insisted, Ford has some competitive advantage by not accepting government loans.
"We can make quick decisions and long-term decisions without getting distracted," he said. "We can also remain focused on our customers."
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It's also a great marketing scheme for Ford, that they haven't had to rely on the crutch that is America's taxpayers. I disagree however with Bill Ford in that I do not support the federal government stepping in to "save" GM and Chrysler. I don't believe the government has a right to do so -- but I am something of a purist when it comes to free markets and democracy.
I am glad I chose to invest in Ford with my hard-earned money -- to the tune of four Ford in ten years. I am probably a car company's dream customer, buying a new vehicle every three or so years, and trading in the old. What bothers me though is that I am now an unwilling investor in two companies I would NEVER invest in, since I as a taxpayer am footing some of the bill to support Detroit's failures.
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