After few days of delay, CEOs of top three U.S. automakers, Bill Ford, the Chief Executive of Ford Motor Co, Tom LaSorda, chief executive of DaimlerChrysler AG’s (DCX) and Rick Wagoner, Chief Executive of General Motors Corp (GM), finally met the leaders of the government, yesterday.
The agenda was to discuss ways to improve US auto competitiveness abroad plus developing alternative fuels. However, very little information is yet unknown, except Ford’s comment that it focused on development of new fuels and ways to wean the U.S. from dependence on foreign oil. Nevertheless, it did seem very promising; Michigan’s two senators - Carl Levin and Debbie Stabenow, both Democrats - spoke of an increased government role in supporting U.S. manufacturers.
Levin states:
These industries are not just competing with companies overseas; they are competing against governments overseas. We have to be just as aggressive in giving them support to level the playing field.
Stabenow mentioned ways to help the industry would be through reducing health care costs, overhauling pension systems and combatting currency manipulation by Japan and China.
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