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Author Topic: Saving Pontiac at www.savingpontiac.org  (Read 2665 times)

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firebirdclub

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  • National Firebird and Trans Am Club
    • National Firebird and Trans Am Club
Saving Pontiac at www.savingpontiac.org
« on: October 11, 2009, 12:34:36 PM »
We are a group of Executives who believe that government should be held to a responsible standard for managing our assets; and we are Pontiac enthusiasts that want the brand to survive!!
We created www.Savingpontiac.org, as a non-partisan organization designed to ignore the politicizing of all government decisions, to take advantage of an existing, unique and singular opportunity to CREATE JOBS NOW!!.
Our Federal Government purchased General Motors by injecting $50 billion into GM during 2009. Through the bankruptcy process the Federal Government has come to own 61% of the Company. Accordingly The federal government, which also means all taxpayers, can make, literally, any decisions  about the operation of the Company. While we believe it is the right decision for General Motors to jettison the Pontiac nameplate, we do not think abandoning the brand is the best decision for the Owners of GM;
The Taxpayers.

Our organization will employ a simple strategy:
* Educate and encourage elected officials, candidates, CEO's and the general public to work toward changing the decision to discard the Pontiac brand rather than letting American use the brand and the dormant GM facilities to create jobs.
* Direct engagement of elected officials and appointed staff to ensure a full understanding is obtained. Our discourse will include taxpayer and workers rights as well as the immediate creation of jobs.
* Create awareness and engender support of all Americans for American these jobs.

Our Solution
We have modeled a solution that would have the following elements:
* Contribute the Pontiac brand and a dormant plant like the Spring Hill, Tennessee plant to a new entrepreneurial, passionate management team and the future employees of Pontiac.
* Fund the new Company with $3 Billion in preferential term loans from the Federal Government. (Only 6% of the $50B given to GM; only 3% of total Automobile bailout funds or less than 1% of the unspent bank bailout funds)
* Company does an IPO within 5 years to payback loans and Government (Taxpayers receive 5% to 10% of the IPO proceeds and the loans are repaid.)
* The estimated Enterprise Value at the end of 5 years exceeds $9 Billion.
(Our association has filed and been approved by the IRS as a 527 Political Organization. There are no owners of our association. We are an non-profit but not a charity. Contributions are not tax deductible.)

Sample Petition to be sent (available online at www.savingpontiac.org for submission

To:  Congress of the United States; The Treasury Department; and Mr. Ron Bloom ("Car Czar")

We, the undersigned, do hereby strongly request and ardently urge that General Motors, which is 61% owned by the taxpayers of America, be instructed to divest, to third parties, its ownership in the Pontiac brand and available, dormant manufacturing facilities to support the Pontiac brand in order to ensure that this car company will be permanently in operation in the United States. This divestiture would be for the purpose of ensuring thousands of jobs are kept in America, that American manufacturing capability will be kept in this country and Americans will continue to have a choice of American made automobiles for the long term.

We also believe that this divestiture can be done in a manner which is for the enrichment of the American public and the employees of the “new Pontiac” as opposed to the enrichment of a small number of owners or financiers. The American people have already bought these assets with little likelihood of repayment. The people who own these assets should be able to use them for themselves and to stop what amounts to restraint of trade by General Motors.

Savingpontiac.Org and the undersigned encourage the Government to move quickly to minimize damage to the brand by the continuing “shut down” of Pontiac that is currently being executed by the management of General Motors.

               Sincerely,


The Saving Pontiac Petition to Congress of the United States; The Treasury Department; and Mr. Ron Bloom ("Car Czar") was created by and written by Ben Holcomb (ben@savingpontiac.org).   The petition is reproduced here on the NFTAC Message Board as a public service.
« Last Edit: October 11, 2009, 12:42:01 PM by firebirdclub »
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Saving Pontiac at www.savingpontiac.org
« on: October 11, 2009, 12:34:36 PM »


 

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