Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

'Halftime in America': Clint Eastwood Hates Car Company Bailouts, but Loves Car Company Commercials

By

The much-talked-about Crysler commercial starring Clint Eastwood is being praised, but it doesn't make a whole lot of sense.

PrintPRINT
"We shouldn't be bailing out the banks and car companies."
--Clint Eastwood

During halftime at Super Bowl XLVI yesterday, Chrysler unveiled a commercial titled "Halftime in America" starring the legendary actor and director Clint Eastwood.

"Halftime in America" was essentially a call that America could turn itself around, following Detroit's emergence from the depths of the housing-driven recession, and it's creating an enormous amount of buzz this morning.

You can view it here (and the script is below if you can't view the video).



And here is the script:

It's halftime. Both teams are in their locker room discussing what they can do to win this game in the second half.

It's halftime in America, too. People are out of work and they're hurting. And they're all wondering what they're going to do to make a comeback. And we're all scared, because this isn't a game.

The people of Detroit know a little something about this. They almost lost everything. But we all pulled together, now Motor City is fighting again.

I've seen a lot of tough eras, a lot of downturns in my life. And, times when we didn't understand each other. It seems like we've lost our heart at times. When the fog of division, discord, and blame made it hard to see what lies ahead.

But after those trials, we all rallied around what was right, and acted as one. Because that's what we do. We find a way through tough times, and if we can't find a way, then we'll make one.

All that matters now is what's ahead. How do we come from behind? How do we come together? And, how do we win?

Detroit's showing us it can be done. And, what's true about them is true about all of us.

This country can't be knocked out with one punch. We get right back up again and when we do the world is going to hear the roar of our engines. Yeah, it's halftime America. And, our second half is about to begin.

Now I have nothing against good old-fashioned patriotism, and I'm certainly glad that Detroit survived.

But the reality is that this commercial made little sense coming from Chrysler, and absolutely zero sense when you factor in Clint Eastwood's appearance.

Let's break it down.

First of all, Clint Eastwood is a hardcore fiscal conservative.

You don't have to believe me -- you can take it straight from Clint, who told this to the L.A. Times in November 2011 (emphasis mine):

"But I'm a big hawk on cutting the deficit. I was against the stimulus thing too. We shouldn't be bailing out the banks and car companies. If a CEO can't figure out how to make his company profitable, then he shouldn't be the CEO."

Yep, you read that correctly. Clint Eastwood was against the auto bailouts!

Against the auto bailouts!

And yet he starred in a commercial from Chrysler -- a multiple-bailout recipient (remember 1980?) -- saying that an industry that survived only because of taxpayer support should inspire the nation to move forward.

The U.S. didn't rally around what any real fiscal conservative would consider was "right." The government threw money at the problem and fixed it. That's not to say that the auto bailouts were necessarily bad -- but let's acknowledge reality.

In fact, according to ProPublica, General Motors (GM), GMAC, and Chrysler still haven't returned all of their bailout money!

Even Ford (F) took $5.9 billion in government financing to retool factories.

Clint Eastwood may be an absolutely brilliant actor and director, but his appearance in this commercial stinks of hypocrisy.

Now, if America wants inspiration from major corporations and industries, there are other places to look -- like our booming tech sector.

For example, just look at how the very-American Apple (AAPL) has completely disrupted the historical Japanese dominance of the gadget industry. It just reported a monstrous quarter (see: Apple Earnings: Outstanding Achievement in the Field of Excellence), while foreign electronics companies like Sony (SNE) and Panasonic are falling apart at the seams.

Or what about Google (GOOG), which organized the world's data? Or Facebook, which organized the world's people? These companies are the envy of the rest of the world, and they're making tons of money and creating high-paying jobs through good old-fashioned ingenuity.

When it comes to large-scale, life-changing technological innovations, America is beating the pants off the rest of the world.

It's not half-time for our innovative tech sector.

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.

It's half-time for the rest of the world -- and they know they're in for more pain.

Twitter: @MichaelComeau

Position in AAPL
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE