This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Obama's Big Bet to Nail Romney on Autos

NEW YORK ( TheStreet) -- President Barack Obama's campaign on Thursday jabbed Mitt Romney on the auto industry in key swing states.

Three new ads were launched in Colorado, Florida, North Carolina, Iowa, Ohio, Virginia, Pennsylvania, New Hampshire and Nevada, according to The Washington Post,

The spots highlight an auto worker's appreciation that the president saved the industry's thousands of jobs, Obama's explanation of why he felt government intervention was the right decision and how the economy gradually improved after Obama entered office.

"It wasn't just the million jobs that were at stake, it was also part of what built our middle class, creating products stamped with those words 'Made in America,'" Obama says in one ad . "What happened in Detroit can happen in all sorts of communities where when you combine American innovation with the best workers in the world, we can succeed."

David Axelrod, an Obama campaign senior adviser, told reporters that the campaign plans to spend $25 million on ads in May.

The New York Times' electoral map lists eight of the nine states where the campaign released these ads as tossups for the 2012 election.

An interactive map by The Brookings Institute reveals the largest concentrations of American manufacturing activity that affect swing states as being in Chicago (near Wisconsin, which is currently a tossup), Boston (affects New Hampshire), New York (reaches to Pennsylvania), Cleveland and Philadelphia.

The ads come a few days after Romney took credit for the comeback of industry giants General Motors (GM) and Chrysler.

"My own view, by the way, was that the auto companies needed to go through bankruptcy before government help. And frankly, that's finally what the president did," Romney said Monday . "So I'll take a lot of credit for the fact that this industry's come back."

It's unclear, at least immediately, if Romney will suffer among blue-collar workers for these comments, but Thursday's ad blitz suggests the Obama campaign hopes to capitalize on the claim.

-- Written by Joe Deaux in New York.

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $129.49 0.80%
FB $79.59 0.79%
GOOG $561.29 0.52%
TSLA $197.68 -2.80%
YHOO $44.12 -0.36%

Markets

DOW 18,252.00 +119.30 0.66%
S&P 500 2,114.17 +9.67 0.46%
NASDAQ 5,000.7190 +37.1920 0.75%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs