Posted on 11/20/2008 9:58:27 AM PST by Presbyterian Reporter
The United Auto Workers union called on Congress and the Bush administration to get a loan to U.S. automakers to prevent their collapse before the legislature adjourns Friday.
"Congress must not adjourn with the Bush administration in place without an agreement," said UAW President Ron Gettelfinger. "If there's no action, we could see the collapse of one or more domestic auto companies by the end of year."
Gettelfinger said the cost of not acting would be devastating for the industry's employees and the U.S. economy.
"The current recession that we're in would be made much worse," he added, saying states and cities that depend on the industry for revenue will be forced to end critical programs.
The UAW called on Congress to provide a low-interest bridge loan to get the companies through the end of the Bush administration until President-elect Barack Obama can put in place a bigger bailout package that will help restore General Motors (GM, Fortune 500), Ford (F, Fortune 500) and Chrysler to solvency.
"There may be disagreements about how to get it done, but surely it should be possible to work out a way to proceed," Gettelfinger said. "The Bush administration needs to act now - today."
Numerous critics of a bailout have argued that GM or any other automaker that can't sustain itself should use bankruptcy protection to make to become competitive, rather than depend on federal assistance.
BTW---GM has surged off their lows with this news. It hit $1.70 earlier this morning and is now over $3.20
(Excerpt) Read more at money.cnn.com ...
Note how the UAW is not even being coy about their plan to blame Bush.
Actually, it might be a politically savvy move by Paulson to give GM a paltry sum to tide them over until Obama and the Democrats are in charge.
Then it would be up to the Democrats to either bailout GM and UAW or stick it to their UAW brethren.
nina0113 to UAW - FOAD.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Proof of my charge that this is to fund the mafia.
Hey Monopoly of Labour.. UAW Cut your Salary and benefits in Half and You Might Have a Viable Company or two! Not 3...
Taxpayer to UAW: Bite me!
My feelings exactly. The capos of the UAW are going to fight for “their” money.
Just what is the UAW bringing to the negotiations?
The UAW bled the automakers to death. Cut costs, change work rules and make other large concessions or let them eat cake. Everyone has to sacrifice except corrupt politicians and their lackeys.
Americans to UAW:
Pound Sand!
We’ll buy Toyota, thank you very much. Made in Texas. Without Unions.
What are they planning to do if there’s no bail out?
Mafia muscle....threats....history of following through....
I’ve got an idea - how about the UAW give the automakers a loan!!! Invest in their own future. Oh - that isn’t how liberal Socialists work. Has to be other people’s money. Sorry, nevermind.
Since they are taking our tax dollars from us why do they not give every American Tax-Payer a car, tax free from the Big Three? Just a suggestion, please no verbal beatdowns, I thank you all so kindly./Just Asking - seoul62......
Doohickey to UAW: Go sodomize yourselves.
I guess there will be lots of theoretically highly paid unemployed union workers pretty soon. I believe there truly is blood in the wind.
Wow... WTF? Who does this guy think he is?
If we do this, I will NEVER, EVER buy another automobile from any of the Big 3.
If they go bankrupt, tell the UAW to FOAD, reorganize and come out the other side with better products, I *will* buy from them again.
I’ve owned several GM vehicles over the years, but if they and the UAW keep acting like this, forget it. Let them burn.
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