Posted on 11/30/2008 11:28:00 AM PST by reaganaut1
WASHINGTON -- The head of the United Auto Workers made a public plea Sunday for government help for U.S. carmakers as the Big Three put the final touches on stabilization plans to submit to Congress.
"We cannot afford to see these companies fail," said Ron Gettelfinger, the UAW chief, calling on Congress to approve the aid during a special session the week of Dec. 8.
Gettelfinger said a $25 billion rescue plan for the carmakers is "not a bailout, this is a loan _ a bridge loan _ that will get us through until we can take a longer-term look at exactly what needs to be done in the industry."
Democratic leaders are demanding blueprints from Chrysler LLC, Ford Motor Co. and General Motors Corp. before they will schedule votes on any new federal aid. The plans, due Tuesday, are to be scrutinized at a Senate hearing Wednesday and a House hearing on Friday.
If lawmakers like what they see, Congress may reconvene the following week to consider the auto bailout.
Members of Congress remain deeply divided on the aid, with many in both parties wary of supporting another costly government rescue on the heels of the $700 billion Wall Street bailout.
Sen. Lindsey O. Graham, R-S.C., said he would not back the help for the U.S. auto industry.
...
In return for new federal loans, leading Democrats want the Big Three to agree to eliminate lavish executive pay packages and dividends; reimburse taxpayers; share future profits with the government; and show how they will meet fuel-efficiency standards and cover their health care and pension obligations to workers.
(Excerpt) Read more at washingtonpost.com ...
Oh really? According to my repro copy of the Dallas Morning News, in May, 1899 there were seventeen automobile companies incorporated in as many states.
Where are the other fourteen now? No one bailed them out. Anyone seen a new Studebaker lately?
Up when I lived in Michigan years ago our heat-treater (a big company that did a lot of production automotive parts) sat down and opened its books to the union (UAW) and let them go over the numbers to PROVE they would go under unless things changed, higher energy costs plus medical benefits were killing them.
They voted no concessions, the plant closed two weeks later and they all lost their jobs, even after they had it spelled out in black and white in front of them.
If the government bails out the “Big Three” automakers, I will have reached my limits with bailouts. My response and I would encourage a very organized effort on the part of millions of others to do the same is this:
Refuse to buy a car from Ford, GM or Daimler-Chrysler.
What’s Obamo going to do, force everyone to buy a car from them? Maybe, he’ll institute a quota system where he’ll make everyone buy cars so that all the automakers sell the absolute same number of cars. Don’t put it past these maniacs in the White House and running the Congress.
Sorry Ronnie, but if by "we" you mean the greedy UAW workers and their mobster bosses and enabling Management, the sympathy meter hasn't twitched.
On the other hand we, the American Taxpayer, can't afford to allow you crooks to rip us off for a bunch more money.
Ripping us off to the tune of $1200 per American car before a bolt has been set on a new car is just adding insult to injury... You lose!
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