Stocks: (GM)(TM)(F)(DCX)The CEOs of the Big Three went to the the CEO of the United States. They wanted to discuss their problems. The yen. Labor costs. Medical costs.They left the White House saying that they did not ask the President for a bail-out. It is a bit like saying that you won’t join the world’s most exclusive golf club, Augusta National, home of The Masters. Of course you won’t join. You haven’t been asked.The CEO’s of The Big Three won’t get help from the US government. It isn’t offering any.It is clear to all who want to look that the car industry is not critical to the economic health of the US. It was once, but the industry is now too small, employees too few people, and is too troubled. GM has recently cut 70,000 jobs and this is on top of cuts at it US competitors and a number of auto parts manufacturers,In addition the industry exports little. And, its contribution to the GDP as gone the way of big steel. The US employment grow in the auto industry comes from Japanese companies building plants on America soil.If the US government want this country to have a competitive auto industry again, it will have to give Toyota an incentive to move its headquarters from Tokyo to Detroit. Then, everyone in Michigan can learn Japanese.Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Will Toyota Move Its Headquarters To Detroit?
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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