Bill Ford Jr: US Government Needs Industrial Policy
15 Juni 2009 - 5:28PM
Dow Jones News
Ford Motor Co. (F) Chairman Bill Ford Jr. said the U.S.
government needs to set a national industrial policy that pulls
together academia, industry and the private sector in order to
boost the country's competitiveness.
"The industrial base is eroding and prosperous nations don't let
their industries erode," Ford said during the National Summit in
Detroit Monday. "Government, industry and academia all have to be
on the same page. Too many times they throw bombs at each other
rather than working together."
More than 100 executives from around the country are meeting in
Detroit over the next three days to discuss policies, technologies
and manufacturing. Ford, along with Dow Chemical Co. (DOW) Chief
Executive Andrew Liveris plan to use the discussion to lobby
President Barack Obama's administration to forge a new energy and
industrial policy that covers the entire country.
"We need a sane energy policy," Liveris said in a speech. "For
too long that has been an oxymoron. "Everyone has to contribute. We
also must invest in all types of alternative energy because we just
don't know which ones will work."
Separately, Ford backed Obama's move to bail out Chrysler Group
LLC and General Motors Corp. (GM) because it protected the supply
base. Uncontrolled bankruptcies by GM and Chrysler could have shut
the suppliers who provide parts to Ford. However, Ford once again
defended his company's decision not to take federal aid.
"We can make quick decisions and long-term decisions without
getting distracted," Ford said. "We can also remain focused on our
customers."
Ford also said he believes the federal government will be
involved in GM for "some time" although he didn't elaborate. The
U.S. Treasury provided more than $20 billion in low-interest loans
to GM to keep the company operating while it undergoes the
bankruptcy process. GM filed for bankruptcy protection on June 1.
Once it emerges, the federal government will own about 60% of GM.
Chrysler filed for bankruptcy on April 30, underwent bankruptcy and
merged its assets with Fiat SpA (FIATY). The government owns an 8%
stake in Chrysler.
-By Jeff Bennett; jeff.bennett@dowjones.com; 248-204-5542