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 | |  | Auto Bailout Money Comes Full Circle: Congressman Tries to Censor Chrysler TV Ad | | | | | Rep. Dean Heller (R-NV) has sent a letter to Treasury Secretary Timothy Geithner requesting Chrysler reconsider advertising during the Super Bowl on February 7. The automaker received $15 billion in bailout funding over a year ago, but is now looking at spending $3 million on one 30-second commercial on CBS.
"While this high cost is directly related to the tremendous number of viewers and venue that the event provides, I wanted to express some concern about a company such as Chrysler, which has needed billions of taxpayer dollars to remain solvent, purchasing this time," state Heller in the letter. "I question the judgment of this strategy."
When US automakers took bailout money they probably didn't realize that politicians would start micro-managing their advertising campaigns. However, $15 billion is a lot of taxpayer dollars and was integral to Chrysler for continuing operations. Heller argues that there have been three Chrysler dealerships in Nevada have closed over the past year.
Both sides tooth's issue certainly have reasonable arguments: Should Government control activities of companies because they took public funding? Should the automakers have been offered public bailout money in the first place?
Ford Motor Company, which was not "quasi-nationalized" by Congress, has managed to turn things around. The company announced earlier this week it plans to hire an additional 1,200 workers and invest $400 million in a Chicago plant. Many analysts also predict Ford to post a profit in 2009. Meanwhile, Chrysler continues to struggle and there are indications that the automaker may try to merge with Italy's Lancia in 2010. | |  | | |
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 | |  | | | | | I think it is ridiculous that these companies that took the government bailout money are just throwing it around. Truthfully I think Chrysler is a dinosaur in auto making anymore anyway. |
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 | |  | | | | | Dean Heller is a 49 yr old Congressman with a degree in Business Administration, specializing in finance and securities analysis. He also work as an institutional stockbroker and as a broker/trader on the Pacific Stock Exchange, so he has business experience and an education.
I think this letter and resulting publicity was nothing more than an attempt to get some face time and help his campaign. Considering his previous opposition to TARP and the auto bailout, along with his pro energy development position, his letter is not exactly consistent with his politics and education/experience - maybe its part of his campaign fund raising activities designed to attract money from MINDLESS BUREAUCRATS!!! |
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