No Mitt..Proof positive you gotta have help to succeed or fail.
Tucker…Preston Tucker was such a man with a dream .He built 50 cars and he was from Michigan and they were built in his yard and finally in Chicago. The cars
Were years ahead of their time. The Big three lobbyists and a Republican Senator Homer Ferguson from Michigan squashed And stopped the man and his dream. Working hard does not make one successful.
Tucker.....yes Preston Tucker Proved thar you can succeed or fail at your own business but it takes a little help. You just do not get there alone. Homer Ferguson and the Wall street boys went after Preston although they never proved wrongdoing on Preston Tucker but they did stop the manufacture of the Tucker. The SEC wanted oversight. Check the video and then go below the squiggly.
They wanted The Tucker stopped. Big profits were at stake. What does all of this have to do with today and the republican candidate for president ? Look no further than the players in the field at that time. Big Business ruled then and now.
Homer Ferguson (Republican from Michigan) Ford
Chrysler
GM
Wall Street
George Romney (father of Mitt)
Romney CEO of AMC with the Studebaker design of the Tucker
Romney later governor of Michigan and his dealings with Republican Ferguson and the big 3.
Who do you think Ferguson endorsed after Tucker was thrown to the vulchers and defeated a man and a dream and HARD WORK.
Who do you think backed Romney in Michigan..which lobbyists?
Mitt Romney the son of George inherited his money. Mitt did not invent anything. He made money by Costing jobs and being a CEO of Bain, the destroyer of jobs. How many jobs were lost due to the trashing of The Tucker? How is it that the Big three adapted the safety features of the Tucker. If the Tucker was so bad, why adapt the features of the automobile? Truth be known, the Tucker automobile was too good and was affordable.
The CEO of AMC help design the Studebaker after the Tucker.
Who was the CEO of AMC at that time? George Romney.
Mitt Romney is a friend to Wall Street.
Mitt does not appear to have any good attributes of his Father but maybe his father had a history of stopping jobs and business when it did not self serve as well. This is not an attack on the Father but it does dispute everything Romney brags about regarding the president being taken out of context about hard work and success, and not getting there by yourself.
Preston Tucker had in his employ a very good japanese mechanic and designer..(not popular after WWII. Some would say at that time, just downright unamerican.
I guess you could say Preston was buddies with terrorists of the time.
Preston Tucker worked on a shoestring. Preston wanted help from the big three and needed help to get his car in mass production but the big three wanted it all. One man ..Senator Ferguson from Michigan had much pull with politics and the big three. They were all for oversight of the SEC in those days and are now as long as it benefits the powerful.
Of course loosening oversight made Wall Street even greedier and self serving for those who have plenty.
Entrepreneurial vision by itself is not enough, and Preston Tucker needed financing to turn his dream car into reality. From the very beginning Tucker ran into stiff opposition from the Securities and Exchange Commission (SEC), an agency of the federal government. Even his first sales of franchises (the right to sell future Tucker automobiles, if and when they were produced) brought an SEC investigation. Tucker complained that selling dealerships wasn't the same as issuing stock, but the SEC investigated anyway.
The SEC later caused costly delays in approving the initial Tucker stock offering. By selling stock in Tucker Corporation to the public, Tucker was inviting them to join his enterprise, to become part-owners and accept the risk of ownership--by sharing the profits of success, or the losses of failure. Funds raised from dealership and stock sales provided the money to design and build the first Tucker'48s.
But the SEC never stopped its harassment of Preston Tucker. The established auto industry didn't want new competition, and their "Senator from Detroit," Homer Ferguson, led the battle to crush Tucker Corporation
.
What did I learn from the Big business, lobbyists, Wall Street and corrupt politics...
in the car industry? It doesn't start nor stop with cars. It is about big money controlling our lives. It is about the Bush's, the Romneys, the wheeler and dealers not happy with corporate politics, they want the real day to day destruction of our lives.
They surely destroyed Preston Tucker's. A man and his dream. Mitt Romney ..your kind of business is wrong for America.