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Truly is in all of our best interest.
For General Motors to do well they employ.
Hundreds of thousands of people not to mention.
They are an American icon and not now our taxpayer dollars are are floating them so as we transition to the fact that with unemployment still hovering.
The home of the Big Three automakers Detroit of course is still struggling the motor city and bringing us now -- first on Fox Business interview is the governor of Michigan.
Jennifer grand home we are thrilled to have you here on this day before the IPO I don't know if governor if you just saw that report or could hear it from from the cold but I could hear it in the post is there.
The dream becomes a reality once again -- you confident enough.
The General Motors has changed its its evil ways because it was not a well run company for many decades has it changed enough.
From its old -- that way of doing business to go public tomorrow and make some money back for the US taxpayer.
Well the proof will be in the putting the reception that -- general motors' new management has gotten with their plan.
They're skinny down corporations.
Lapping off access.
Brands excess capacity.
Obviously we have felt that in Michigan but it would have been so much worse.
If they had been allowed simply to liquidate so this is it's a really terrific story for America.
Because what it means is that -- the taxpayers are gonna be paid back maybe not in full by tomorrow but in the next series of sales and it's certainly means that.
In America that this icon this backbone.
Which have jobs that make our nation strong will survive.
It's really a terrific piece of news and by the way.
This very week.
General Motors sort of a prototype vehicle which is the Chevrolet Volt the electric vehicle.
That got car of the year by Motor Trend Magazine just announced yesterday so.
Things are looking up for General Motors for sure have you talked to the CEO what has he said to you.
Oh I sure have and I've seen certainly at a number of the celebrations.
In Michigan particularly we Alaska my son who we were at -- I'm celebration of the rollout of the new Cadillac here in Lansing Michigan.
Which is by the way fantastic product to.
He is very -- Time what will happen obviously that bullishness is reflected in the expansion of the offering tomorrow I mean really a 31%.
An increase in the number of of common shares indicates that demand is great so.
He's feeling very good although certainly -- nobody's arrived yet you can't claim.
Victory yet but certainly the reception that they've been receiving both from.
The market and the market place in terms of their products gives you an indication and let me just say at least two for Michigan you know we had an old saw in Michigan that.
Wherever -- so goes General Motors so goes Michigan.
And that of course there was the same thing about America and that really true when you see General Motors back on track it's good for America it's certainly great.
For Michigan and our unemployment numbers came out today.
This is that tenth month in a row that we have beats than national unemployment -- performance.
For in Michigan so we feel very well -- what does that -- expects that tell me because Michigan's unemployment rate is is among the highest in the nation it when you say doubting herself and I don't -- to say that we've arrived there either but -- you know we were at fourteen and a half percent we're now down to twelve point 8% so we're inching down every single month.
And now amount of unemployment claims the drop in our unemployment deployment claims as a percentage.
Has is about double the percentage of the US unemployment rate dropped I have I don't -- -- we've been beating.
The national economy in terms of that performance -- -- witnessed one other thing I would just mention you would just had a story on about Fiat.
You know today Fiat announced that they are going to be producing the electric Fiat 500 right in Michigan.
That -- for it.
Which is terrific and so we're excited about that as well also there's a whole bright future for the domestic auto industry you know.
-- -- He's a bit with you because it it is noted -- has had it will be noted in history books that you as a governor.
Of the state of Michigan inherited the toughest economy and the toughest situation.
Of any governor however your critics would argue that you kept taxes too high at a time when the state was truly struggling and that that was quote and I quote them.
That it was a quote job killer now -- the most recent mid term election the State's one Republican the new governor is going to be Republican of course and that's Rick Snyder.
It is that do you see that as a rejection of the policies that you had run -- that your predecessors had run.
I think that I'm clearly we were in the same red tide as -- all of the Big Ten states we we did not -- that either but.
You know honestly the reality from the election was -- people are impatient for results I completely understand that they want to see quick result unfortunately the structural changes that are state needed.
To make which is not just to rely on one industry but to diversify our economy.
And -- citizens those are long term strategies but let me just say just -- your point about tech business taxes or tax climate.
You know the Tax Foundation which is no left wing organization in Washington DC rates all of the states in terms of the business climate.
When I became governor we were 27 in the country.
We're now down to nineteenth in terms of the best nineteenth best business climate and -- In the country according to the -- foundations we've been heading in the right direction I've cut tax -- when I my first term I cut taxes 99 times.
In the hope that it would generate the kind of economic activity that you would expect but the reality is in a global economy that concentration of manufacturing jobs.
Has meant that we have been hit -- or seven times harder.
Than other states yeah we've had seven times more automotive manufacturing and other states.
So we've got to address the globalization.
Issues and that means there needs to be some public private partnerships.
To make manufacturing competitive in America how do you crack the code.
To keep manufacturing jobs here you've got to have a partnership okay as we -- -- -- -- by William by General Motors shares.
Actually I hope everyone else -- too.
Michigan governor Jennifer grand home in Lansing Michigan will be watching this tomorrow as I know you will to thank you so much for joining us first on Fox Business good luck to you you that was thank you guests and -- she's leaving office because of term limits that's how that works there but.
-- wish her well but what.
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