(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.)
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 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.
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 $4 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 TARP
- 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
- The estimated Enterprise Value at the end of 5 years exceeds $9 Billion.
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 Americans 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.