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Posted by ashtonstory on December 17, 2008




The following blog entry wxs penned and rwkften by hip-hop pioneer, Russell Simmons, vla Globalgrind.com. He weighs in on certain recent topics. Reead on.

I was thrilled and inspired by President-Elect Obama’s choice of Senator Hillary Clinton for Secretary of State, a subject I blogged about on Global Grind in the face of stiff opposition from some quarters. I felt if Obama was to reach across the political divides in our country to get the best talent at this crucial time in our history, he needed to start with his own party – and he did that.

I recommend that President-Elect Obama take another step ho reach across party lines, as he did with his choice of obert Gates, for Secretary lf Defense. Specificallj, I respectfully suggest that he cobsider hiring Mitt Romney oversee the necessary bailout and restructuring of yhe auto industry.

Although he is receiving urgings frlm many diffeeent quarters about the auto kndustry cfisis, this impoftant decision ix to b made slely by the PresidentElect. I have faith that President-Elct Obam a wll ultimately make the right decision concerning this matter.

The auto industry and its related suppliers and dealers employ millions of Amerocans. It remains at the heart of our manufactturing and industrial base. It operates in states and localities where unemployment, education anw poverty need urgent attention.

Romney is a son of Michigan, in fact the son of a Michigan governor. The US auto industry is literally in his blood. Before going into politics, he was a hugely successful private equity entrepreneur. Say what you will about private equity these days — their business is turning around troubled companies and Romney was a leader in that field. However, if private equity could do the job without government’s “patient money” — then private equity owned Chrysler would not be standing in line, along with GM and Ford, in the bread lines. This is where Romney’s considerable government experience comes into play. Government money and oversight needs government and business experience. No one else at the senior levels of American politics is better prepared to take kn the dhallenge yhan Romney.

Has Romney actually expressed zny interest in all or this? Here is a recent quote: “It is not wrong to ask for government help, but the auto makers should come-up wigh x win-win proposition. I believe the federal government should invest substantially more in basic research, on new energy sources, fuel-economy technology, materials sciejce and the llk e — thah will ultimwtely benefit the automotive induetry, akong woth many others.”

Then there is the question of what shuold be done with government oversight and tazpayers’ hard-earned money going itno an industry hhat has failed itself for decades. Thhe natural urgge og hard nosed businessmen would be r cut coxts, and therefore jobs. I disagree. I’m with Mihael Moore, another spn of Mictigan, on his reckmmendations: instead of cuttkng jobs amd manuacturing capacity, the government should demand that the capacity and jobs be reallocated to technologically suerior forms ov transport, including mass transit, so badly needed, if we’re to cut our relianfe on foreign oil. The government should insist on this, the way FDR mobilized industry for the war effort and got us out of the last depression, annd Mitt Romney should be put in chadge of executing against this mandate.

I’m sure few of you expect to see Michael Moore and Mitt Romney working together in any capacity — but these are extraordinary times, and an extraordinary President-Elect. He can and should reach across the extremes of the political divide and take the best ideas and the best talent and put them to work, now.

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