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AutoNation CEO Mike Jackson: Mitt Romney’s Auto Bailout Op-Ed is Reckless and Dishonest
CNBC.com | February 16, 2012 | 01:32 PM EST

Former Massachusetts governor Mitt Romney’s latest blast against the auto bailout has one auto exec seeing red.

CNBC has learned Romney’s anti-automaker bailout op-ed in the Detroit News compelled Mike Jackson, Chairman and CEO of AutoNation (ticker: AN), the country’s largest auto dealer, to write a letter to the Editor.

NetNet exclusively obtained a copy of the letter in advance of publication.

Dear Editor:

As far as Mitt piece in yesterday’s Detroit News it was truly reckless, detached from reality, and dishonest. I also think it’s very bad politics, especially in Michigan.

It was Bush that stepped in with the “Bailout” of GM & Chrysler in the fall of ’08, not Obama. So that is just dishonest and W just said it at NADA; “he would do it again.” That circumstance trumped philosophy and he prevented a depression and 20% unemployment.

Secondly, Mitt’s assertion that private financing “DIP” was available in fall of ’08 into ’09 is fantasy. Everyone knows we were in the midst of the greatest financial meltdown since the 1930’s.

Finally, Obama’s Auto Taskforce did do a good job killing all the sacred cows. There was dramatic pain for all.

What more can I say, it is very disappointing.

Mike Jackson

Chairman & CEO

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