Johnson Controls CEO Refutes Accusations About Seeking Federal Aid In 2008

(RTTNews) - Auto parts supplier Johnson Controls Inc.'s (JCI) Chairman and CEO Alex Molinaroli has refuted accusations that the company was in financial distress and sought funds from the federal government in 2008 as part of the U.S. auto industry bailout.

In an op-ed on the Detroit Free Press website, Molinaroli has refuted the erroneous allegations and laid out the truth about the company's actions as well as ongoing contributions to the U.S. economy.

"That is simply not true. Johnson Controls did not request and did not receive aid from the government during the financial crisis. Nor did the company declare bankruptcy," Molinaroli said in the op-ed.

Johnson Controls noted that the inaccurate attacks have become a recurring theme in stump speeches, debates and campaign ads during this presidential campaign season.