Clearly, Michigan Gov. Jennifer Granholm (D) must've been happy to announce that Ford Motor Co. agreed to invest $1 billion in Michigan over the next 20 years. Jobs are far and away the No. 1 issue in her bid for re-election, and Michigan's been hurt by massive waves of lay-offs, particulary by Delphi and Ford. So the announcement, coming three months before the election, must've helped her a little.
But Detroit Free Press columnist Tom Walsh had a really insightful take on what the deal meant to both Granholm and Ford:
(I)t was clear in the comments of Gov. Jennifer Granholm and Ford Executive Vice President Mark Fields that this also was a deal born of frustration.
Frustration felt by many a Michigan autoworker that American consumers have turned their backs on Detroit in favor of Japanese, Korean or European -brand cars and trucks.
Frustration expressed by Fields as he mused in his speech about how poorly "home team" auto companies are regarded in Detroit, compared with how well Asian and European automakers are treated in their homelands.
And frustration in Granholm's admission that discussion of this nine-plant incentive deal began in the wake of Ford's January decision to close its Wixom Assembly Plant -- despite a fat offer of state tax breaks to keep it open.
What's happening here is that Ford and the state, via the Michigan Economic Development Corp., are essentially formalizing something the federal government has long resisted -- a state industrial policy that pledges to do virtually whatever it takes to support and preserve a key industry. In this case, the auto industry.
You should read the whole thing. I don't read as many columnists as I would like, but it's columns like this that makes me wish I could read more.