A different look at the potential failure of Detroit.
12-12-2008, 09:47 AM
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A different look at the potential failure of Detroit.
This is the attached letters to the Senators of SC emailed to me from Todd Bennington, VP BorgWarner TorqTransfer Systems.
I am posting to hopefully get people to realize this isn't about punishing a few of the Detroit execs for their stupid decisions of the past. This loan is about protecting the hundreds of thousands of jobs of jobs that rely on those companies to make a living, and the millions of other people who making a living servicing the people who work for, or work in support of them.
The execs may deserve to have their companies go bankrupt, but the millions of hard working Americans who depend on them don't.
December 11, 2008
Senator Lindsey Graham
290 Russell Senate Office Building
Washington, DC 20510
VIA FACSIMILE: 202-224-3808
Subject: Financial Assistance for Domestic Automotive Industry
As one of the 265 associates currently employed by BorgWarner Inc. Torque Transfer System Plant located in Seneca, South Carolina, I am urging you to support the loan guarantees for the Domestic Auto Industry.
The automotive industry is a cornerstone of the nation’s economy. The industry includes many direct jobs at suppliers and dealer organizations, not to mention other key indirect jobs in support of a financially healthy automobile industry.
Over the last year, BorgWarner has made significant investment in our Seneca plant, in excess of $25 million dollars to expand our plant 63,000 square feet, purchase and install various machinery and equipment and associated tooling, that will ultimately result in the creation of 140 new jobs. This investment is directly related to providing product to our domestic automakers.
A healthy automotive industry is necessary to continue to build innovative, fuel-efficient, and safe motor vehicles for the American public.
The current downturn in economy has drastically reduced the sales of all motor vehicles which has severely and negatively affected the entire industry.
The normal channels of credit are not available and this credit crunch has impacts on dealers, suppliers, and vehicle manufacturers alike.
Congress needs to support financial assistance for the automotive industry.
Thank you,
Senator Lindsey Graham
290 Russell Senate Office Building
Washington, DC 20510
VIA FACSIMILE: 202-224-3808
Subject: Financial Assistance for Domestic Automotive Industry
As one of the 265 associates currently employed by BorgWarner Inc. Torque Transfer System Plant located in Seneca, South Carolina, I am urging you to support the loan guarantees for the Domestic Auto Industry.
The automotive industry is a cornerstone of the nation’s economy. The industry includes many direct jobs at suppliers and dealer organizations, not to mention other key indirect jobs in support of a financially healthy automobile industry.
Over the last year, BorgWarner has made significant investment in our Seneca plant, in excess of $25 million dollars to expand our plant 63,000 square feet, purchase and install various machinery and equipment and associated tooling, that will ultimately result in the creation of 140 new jobs. This investment is directly related to providing product to our domestic automakers.
A healthy automotive industry is necessary to continue to build innovative, fuel-efficient, and safe motor vehicles for the American public.
The current downturn in economy has drastically reduced the sales of all motor vehicles which has severely and negatively affected the entire industry.
The normal channels of credit are not available and this credit crunch has impacts on dealers, suppliers, and vehicle manufacturers alike.
Congress needs to support financial assistance for the automotive industry.
Thank you,
December 11, 2008
Senator Jim DeMint
340 Russell Senate Office Building
Washington, DC 20510
VIA FACSIMILE: 202-228-5143
Subject: Financial Assistance for Domestic Automotive Industry
As one of the 265 associates currently employed by BorgWarner Inc. Torque Transfer System Plant located in Seneca, South Carolina, I am urging you to support the loan guarantees for the Domestic Auto Industry.
The automotive industry is a cornerstone of the nation’s economy. The industry includes many direct jobs at suppliers and dealer organizations, not to mention other key indirect jobs in support of a financially healthy automobile industry.
Over the last year, BorgWarner has made significant investment in our Seneca plant, in excess of $25 million dollars to expand our plant 63,000 square feet, purchase and install various machinery and equipment and associated tooling, that will ultimately result in the creation of 140 new jobs. This investment is directly related to providing product to our domestic automakers.
A healthy automotive industry is necessary to continue to build innovative, fuel-efficient, and safe motor vehicles for the American public.
The current downturn in economy has drastically reduced the sales of all motor vehicles which has severely and negatively affected the entire industry.
The normal channels of credit are not available and this credit crunch has impacts on dealers, suppliers, and vehicle manufacturers alike.
Congress needs to support financial assistance for the automotive industry.
Thank you,
Senator Jim DeMint
340 Russell Senate Office Building
Washington, DC 20510
VIA FACSIMILE: 202-228-5143
Subject: Financial Assistance for Domestic Automotive Industry
As one of the 265 associates currently employed by BorgWarner Inc. Torque Transfer System Plant located in Seneca, South Carolina, I am urging you to support the loan guarantees for the Domestic Auto Industry.
The automotive industry is a cornerstone of the nation’s economy. The industry includes many direct jobs at suppliers and dealer organizations, not to mention other key indirect jobs in support of a financially healthy automobile industry.
Over the last year, BorgWarner has made significant investment in our Seneca plant, in excess of $25 million dollars to expand our plant 63,000 square feet, purchase and install various machinery and equipment and associated tooling, that will ultimately result in the creation of 140 new jobs. This investment is directly related to providing product to our domestic automakers.
A healthy automotive industry is necessary to continue to build innovative, fuel-efficient, and safe motor vehicles for the American public.
The current downturn in economy has drastically reduced the sales of all motor vehicles which has severely and negatively affected the entire industry.
The normal channels of credit are not available and this credit crunch has impacts on dealers, suppliers, and vehicle manufacturers alike.
Congress needs to support financial assistance for the automotive industry.
Thank you,
The execs may deserve to have their companies go bankrupt, but the millions of hard working Americans who depend on them don't.
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