FYI:Industry-Government Update

If Alan Greenspan was shocked by the greed on an unregulated Wall Street, the nation will be quaked if Congress fails to aid the domestic auto industry. But, in case you have readers or listeners who do not think so, here are links to hard facts and opportunities to get involved:

Auto Jobs Matter

http://www.autojobsmatter.org.

Steve Still of Jackson-Dawson Communications asks that you visit the website where more information and other steps you can take to promote a positive outcome are proposed.

Engine of Democracy

http://www.theEngineofDemocracy.com

Opening on the web Dec. 1, backed by an ad hoc committee of Big Three supporters, it offers a congressional contact locator and information on a 50-state coalition of industry, labor, supplier and dealer representatives slated to visit the Capitol Dec. 5. Site visitors will be invited to relate how the auto industry means their lives.
 

2007 Big 5 Auto Sales

http://online.wsj.com/mdc/public/page/2_3022-autosales.html

How domestic new car sales rank in the U.S.

Why Auto Jobs Matter

http://www.cargroup.org/documents/FINALDetroitThreeContractionImpact_3__000.pdf

Center for Automotive Research Memorandum

The November 2008 Center for Automotive Research Memorandum: The Impact on the U.S. Economy of a Major Contraction of the Detroit Three Automakers. Key points of the study include:

  • The auto industry has one of the largest economic multipliers of any sector of the U.S. economy.
  • The auto industry is so large that its growth or contraction can be seen in changes in the U.S. Gross Domestic Product.
  • In many states, employment in automotive and automotive parts manufacturing ranks among the top three manufacturing industries.

The rapid termination of Detroit Three U.S. would result in the following consequences:

  • Lost jobs:
    Nearly 3.0 million jobs lost in the U.S. economy for 2009
    239,341 jobs lost at the Detroit Three
    973,969 indirect/supplier jobs lost
    1.7 million spin-off (expenditure-induced) jobs lost
     
  • Lost income:
    U.S. personal income would be reduced by over $150.7 billion
    A total of $398.2 billion in personal income would be lost over the course of three years
     
  • Lost taxes (local, state and federal)
    A loss to the government of $60.1 billion in 2009
    $54.3 billion in 2010
    $42.0 billion in 2011
    A total government tax loss of over $156.4 billion over three years.
     
  • The decline in Social Security Receipts, (what gets paid into Social Security as result of the auto industry), would drop by $21.1 billion in 2009, $19.3 billion in 2010 and $15.0 billion in 2011.

Alliance of Automobile Manufacturers

http://www.autoalliance.org/index.cfm?objectid=2EA700BD-1D09-317F-BBDB8EEE4177071A

Another industry overview comes courtesy of the Alliance of Automobile Manufacturers. This association of 11 vehicle manufacturers includes BMW Group, Chrysler LLC, Ford Motor Company, General Motors, Jaguar Land Rover, Mazda, Mercedes-Benz USA, Mitsubishi Motors, Porsche, Toyota and Volkswagen.

  • America’s automobile industry is the engine that drives the economy.
  • No other single industry supports so much U.S. manufacturing or generates so much retail business and employment.
  • One out of every 10 U.S. jobs, or about 13 million, is auto-related.
    America can’t have a healthy economy without a healthy auto industry, because autos represent the country’s largest manufacturing base.
  • Almost 4% of U.S. Gross Domestic Product (GDP) is auto-related.
    Every auto plant job generates about 5 jobs among suppliers and the surrounding community (CAR); by comparison, a Wall Street job generates 2 additional jobs (Bloomberg).

International Organization of Motor Vehicle Manufacturers

http://www.oica.net/

And while some skeptics might say that the auto industry is really just a concern for the U.S. or other technologically advanced nations, consider the following:

  • The auto industry is the single greatest engine of economic growth in the world.
  • The global auto industry is a key sector of the economy for every major country in the world. The industry continues to grow, registering a 30 percent increase over the past decade (1995-2005).
  • Autos create jobs, jobs, jobs.
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