Former Governor of Massachusetts and 2008 Presidential Candidate
Con to the question "Should the Big Three Car Manufacturers Be Bailed out by the US Government?"
"If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won't go overnight, but its demise will be virtually guaranteed...
The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.
In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check."
"Let Detroit Go Bankrupt," New York Times, Nov. 18, 2008
Experts Individuals with JDs, PhDs, other relevant advanced degrees, CEO's of major car manufacturing companies, and government officials with significant involvement in, or related to, automotive, business, and bankruptcy issues. [Note: Experts definition varies by site.]
Involvement and Affiliations:
Honorary Chairman, Free and Strong America PAC (Political Action Committee)
2008 Republican Candidate for US President
Chief Executive Officer (CEO) and Managing Partner, Bain Capital Inc., 1984-present
Governor, State of Massachusetts, 2002-2006
President and CEO, Salt Lake Winter Olympics Organizing Committee, 1999-2002
Former Chairman of the Republican Governors Association
Candidate, US Senate, 1994
Visiting Committee, Harvard Business School
Member, Board of Directors, Points of Light Foundation
Member, Board of Directors, Mariott, Staples, Babbages, and Duane Reade
Named a Baker Scholar for graduating in the top five percent of his business school class