Introdction by CEO of American Axle


Some how everything just feels right here. Most of the cars you see here on the road are mad here in the good ole USA, Verner’s is the best Ginger ale in the world.

Wildest dreams joke, poor guy has to tell is about 50x, still gets a big laugh.

If I am elected the Pres. of this great and, I won’t need a compass to tell me where MI is.

I’ve got cars in my blood stream (that’s gotta hurt).

Michigan is in one state recession, problems exacerbated by Lancing’s raising of taxes. What has Washington done to help? Not much at all.

Washington has dropped another Anvil on MI, higher CAFE standards.

Michigan is bell weather for US economy. Canary in the mind.

China accounts for 1/3 of our trade imbalance.

Accustomed to measure Natl. security with missiles, a better measure is the health of economy, Cannot have 1st tier economy with 2nd tier economy. MI economic worries should be nations economic worries.

If I am president, I will not rest until MI comes back! (Big cheer)

I am convinced MI can lead worlds auto industry. Needs change in DC by...

1. Honest about problems, tackle head on. Roll up sleeves, Mitt will bring together, industry, state and congressional leaders to develop plan for auto industry. Plan will work for MI and Automakers. Rectify enormous capital cost problems. Legacy, CAFÉ, etc.



2. Plan includes increase funding for auto research. DC, should not be benefactor, be a partner. Stop loading Detroit down with fuel mileage standards, uncoordinated with manufacturers.



3. Stop DC unilateral energy cost on manufacturing sector. McCain Leiberman Bill is an example (interesting name drop). Costs 300,000 jobs.



4. Placing caps and taxes on US alone drives manuf. to China. Global Warming.


5. More Healthcare cost on Auto, than skill costs. Mass Health Plan.


6. Fix Tax code.

5 fold increase from 4 billion to 20 billion to fuel science , auto tech, energy research.

Lead the world in Defense and medical, If we invest in heath care and space why not invest in fuel efficiency ,etc.

Personal accounts for on the job training. 40 different. Workforce training programs. Replace it with individual ownership and personal responsibility.

Treat teachers like real professionals. Better teachers should be better paid. Evaluated, promoted. Education of children ahead of interest of teachers union.

Shape US trade policy to open market to our goods and level playing field. Any nation tht unfairly man. Curncy, dumps usafe goods, etc. will face very aggressive president across the trading table.

When playing field is level America can compete with any nation

My whole life taken complex situations, and tackled them head on. Only candidate with that kind of experience. Frankly it’s the kind of experience MI needs in the white house.

Some people think there is no future for dom. Auto Indus. Jobs are gone, they are wrong.

We need new leadership in Wash. and they need lift the burdens.

Pessimist says jobs lost forever are gone foever. Nothing an be done. The pessimist are wrong, they don’t have to be lost, I can work to transform the industry and solve the problems. Next time I visit the auto show, I hope it will be as president of the US.

Questions,

Negative campaign between McCain and him?

MCain is a hero, someone I respect. A little advice, don’t run against Ted. K in MA. (lots of laughter) We have difference. MCCain voted against Bush tax cuts, I like them, they kept us from a deep dive. I love legal immigration, I don’t like illegal immigration. No amnesty. He an I disagree on that. I spent my life in private sector consulting venture capital, Turns companies around. I don’t know any exec. Who likes layoffs, means there are problems in the company. I know what it is like to sign payroll, and have to worry about layoffs. I understand economy, it’s in my blood.

Subprime issue, how did we miss this, what should be done, were we wrong to put Bernanke?

How did it happen? OFEO, resp. to mortgage product have no undue risks, They’ll be given more money, they ought to be fired. Highly risky products put together for safety, very risky idea. Fix OFEO, Lowering interest rates, very aggressive effort to help mortgages to stay in homes, to keep mortgages to from bing dumped on market. Washington needs leadership here. I’l likely put out stimulus package in the future, rehashes his savings program.

When are president, how will you concur congressional spending w/out line item?

Line item, single most effective tool pres has. Fight for new rules to fight for these rules. Real problem is entitlement challenge, (60% is entitlement spending, up to 70 in next eight years.) Ultimately it could lead to 100%. We have to have entitlement reform.

Put Medicaid on sound footing. Block grants to state. Medicare, reform entire system.

Governor Romney, how do we compete with Asia?

We really are in a global competition between four competitiors. Nothing as vulnerable as entrenched success. 120,000 to keep a soldier in uniform. 1200 to keep a Chinese soldier in uniform. Recognize the innovative spirit.

Gov. Romney, more troops less troops or troop withdrawal?

Time mag made big mistake in putting Putin on cover, should have been petreaus. NPR reporters laugh in a mocking tone.