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Senator Chris Dodd Blasts Automakers for Lack of Candor

Senator Chris Dodd Blasts Automakers for Lack of Candor

By Colin Mathews's avatar Colin MathewsColin Mathews November 20th, 2008

creative commons - flickr.com: http://www.flickr.com/photos/arbayne/479483858/

creative commons - flickr.com: http://www.flickr.com/photos/arbayne/479483858/

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Breaking somewhat from his fellow Democrats who largely back federal assistance for Detroit's floundering Big Three, tough-talker Chris Dodd of Connecticut was disappointed that the Big Three, during pleas to Congress, "missed an opportunity to be candid about past mistakes," reports the Detroit Free Press today. Further, Dodd hopes that chances for the $25 billion bailout of the domestic auto industry "remain remote."

For a trip through some of Detroit's worse moments and woeful products, click over to our review of U.S. News & World Report's summary of 10 vehicles that it believed helped sink Detroit into its current mire. GM, Ford, and Chrysler have made some great vehicles throughout the years, but their responses to oil shortages, economic realities, and automotive downsizing have resulted in disasters like the Ford Explorer, Hummer H2, Jeep Compass, and the festival of badge engineering that were the Chevrolet Cavalier/Buick Skyhawk/Cadillac Cimarron/Pontiac Sunbird/Oldsmobile Firenza quintuplets.

Instead of a bailout, Dodd is in favor of a pre-packaged bankruptcy proceeding for one or more of the three automotive giants, hoping for a restructuring without complete destruction of consumer confidence. Detroit Free Press reports that Dodd does support assistance for domestic automakers in principle, but is frustrated by automakers who don't seem to see the consequences of their poor decisions in years past. He's understandably wary of giving huge sums of taxpayer money to companies who haven't proven they will manage it well. In Dodd's bankruptcy scenario, terms for lenders, suppliers, and labor would be arranged in advance to ensure continued auto production and a clear path toward future relevance and corporate health.--Colin Mathews
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Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius. creative commons - flickr.com: http://www.flickr.com/photos/arbayne/479483858/Enlarge PhotoBreaking somewhat from his fellow Democrats who largely back federal assistance for Detroit's floundering Big Three, tough-talker Chris Dodd of Connecticut was disappointed that the Big Three, during pleas to Congress, "missed an opportunity to be candid about past mistakes," reports the Detroit Free Press today. Further, Dodd hopes that chances for the $25 billion bailout of the domestic auto industry "remain remote." For a trip through some of Detroit's worse moments and woeful products, click over to our review of U.S. News & World Report's summary of 10 vehicles that it believed helped sink Detroit into its current mire. GM, Ford, and Chrysler have made some great vehicles throughout the years, but their responses to oil shortages, economic realities, and automotive downsizing have resulted in disasters like the Ford Explorer, Hummer H2, Jeep Compass, and the festival of badge engineering that were the Chevrolet Cavalier/Buick Skyhawk/Cadillac Cimarron/Pontiac Sunbird/Oldsmobile Firenza quintuplets. Instead of a bailout, Dodd is in favor of a pre-packaged bankruptcy proceeding for one or more of the three automotive giants, hoping for a restructuring without complete destruction of consumer confidence. Detroit Free Press reports that Dodd does support assistance for domestic automakers in principle, but is frustrated by automakers who don't seem to see the consequences of their poor decisions in years past. He's understandably wary of giving huge sums of taxpayer money to companies who haven't proven they will manage it well. In Dodd's bankruptcy scenario, terms for lenders, suppliers, and labor would be arranged in advance to ensure continued auto production and a clear path toward future relevance and corporate health.--Colin Mathews --- Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.

Tags: North America, Industry, Politics, General Motors

Posted in: 2008, Chrysler, Ford



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Responses (6 total)

  1. By  Marty Padgett #1, Posted: 11/20/2008

    So the Explorer, which made money and ran two factories at capacity for almost a decade, is a failure? Dodd's an idiot, and the choice of the Explorer is idiotic.

  2. By  colin #2, Posted: 11/20/2008

    Nah, Ford Explorer was not a failure, just a short-sighted profit maker. Investing in it to the exclusion of Ford's car lineup was, however, a move that resulted in failure. Unless you consider Ford's situation at present success.

  3. By Ed #3, Posted: 11/20/2008

    "Marty Padgett
    November 19th, 2008 - 8:45 pm
    So the Explorer, which made money and ran two factories at capacity for almost a decade, is a failure?"
    YES. It was an ENGINEERING Failure originally, when the beancounters decided it should be not wide enough, making it rollover-prone and the idiots that drove it rolled over to their deaths because they also did not properly inflate the tires.
    ANd it is an ECONOMIC failure NOW, after people realized that gas prices would NOT stay at $1.00 a gallon FOREVER, as they did in the 90s when the Explorer did sell 400,000 a year to clueless idiots.
    Were bell bottom pants in the 70s a success? I'm sure they sold a ton of copies too. They, like big-ass SUVs, were a STUPID, STUPID FAD, that came and went, and good riddance.
    Apart from that, you are right, the corrupt DODD is also an idiot and does not know diddly squat about cars, but his criticism of the big 3 is well justified.

  4. By reece #4, Posted: 11/20/2008

    Is Dodd still there? How old are yur pollies anyway, It is not just the automakers that need some new blood.
    Does Wagoner deserve $15 M plus a year for his years at helm of GM. Nope. Private Jet? What a wanker.
    Please give us billions of dollars so I can earn tens of millions a year.
    As I have said for a long time any assistance has to come at the cost of restructuring the Boards of GM and Chrysller at the least. Mullaly at least is trying to turn Ford around. The other two don't seem to have a clue what they are doing (G3 anyone)
    The failure of GM et al wasn't producing SUV's, they sold well for a long time and made money. What was stupid was not investing that money into creating a braader product line that would allow it to cope with market change. Look at BMW at one time they had only three lines, 3 series, 5 series and 7 series with a couple of niche vehicles here and there. Now they cover the breadth and are profitable. Toyota makes a lot of money from Camry and Corolla but ensures it has cars to cover the whole range. GM makes a couple of decent cars and trucks but mostly crap because it does not re-invest money into design and development. hey need to set a minimum amount that goes back into design and development each year.
    While most senators have no idea about cars or the real world they are evry right to attack the US 3's top management.

  5. By  John simonof #5, Posted: 12/7/2008

    Chris dodd, is this the same person who caused and created the worst crisis in the country where thousands of people lost their savings and got preferential treatment from countrywide. C dodd not only must resign but let me close the door on the way out. Another expression is - What goes around comes around. C. dodd is nothing but a scum bag and an embarrassment to this country.
    He and Barney Frank must go directly to JAIL.
    The real question is where is the press and media? Do they not know that he and Barney Frank who are heads of the committee of banking and rebuked regulations and controls to fannie mae and freddie mac are the cause of this financial crisis.
    I cannot say what I want for sake of what xxxxxxxx.
    Barney Frank and C Dodd. !!!!!!!!!!!!!!!!!!

  6. By Ralph Chappell #6, Posted: 12/8/2008

    Chris Dodd criticizes anyone for lack of candor???
    Why will he not release the HUD statements for his two sweetheart VIP Loans from Countrywide...a business that falls under his committee's purview?
    Please to remember the good Senator is not allowed to accept any gift in excess of One Hundred Dollars by Senate Ethics Rules.
    He is just another cheese eating billy goat!

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