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Feds say 'no' to auto giants Ottawa, Queen's Park out of the loop at Washington auto bailout talksWASHINGTON -- Any chance that Canada would muscle in to play a central role in the U.S. arm-wrestling over an auto bailout vanished faster than cash from the Detroit 3 bank accounts yesterday. "We've had two very high level meetings with senior executives in Detroit and that gave us another level of information," federal Industry Minister Tony Clement said at a rooftop press conference at the Canadian embassy. "Is it enough to make a decision on spending taxpayer's money? I'd have to say...

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...

WASHINGTON -- A full-court effort by U.S. auto makers to secure federal aid appeared to be on the rocks after the companies failed to convince lawmakers of the urgent need for a rescue. Michigan Rep. Dale Kildee, Chrysler Chairman and CEO Robert Nardelli, GM Chairman and CEO Richard Wagoner, UAW President Ron Gettelfinger and Michigan Rep. Sandy Levin (left to right) prior to a hearing Wednesday on Capitol Hill at which the auto makers made their case for federal assistance. Late Wednesday, Senate Majority Leader Harry Reid backed away from efforts to force a vote this week on a Democratic-backed...

The government-affairs director of the AFL-CIO said he is certain that organized labor's top priority -- a law that would make it much easier for unions to organize businesses both large and small -- will pass Congress and be signed by President Barack Obama. "I have no doubt it will pass and will be signed," William Samuel told reporters and editors of The Washington Times. He was referring to the Employee Free Choice Act, which would give workers the right to join a union as soon as a majority of them signed cards requesting union representation. In a wide-ranging interview...

The chances of the US Congress quickly approving a bill to save the "Big Three" car manufacturers are said to be "remote" but one economist warned that their collapse could shave 4pc off America's gross domestic product next year. Democrat Senator Chris Dodd, who chairs the influential Senate banking committee, believes that the chances of Congress approving a new bill this week to advance up to $25bn in lifeline funding to Ford, General Motors and Chrysler are slim. "I'm anxious to see something happen," said Mr Dodd, who on Tuesday heard pleas for the money from the leaders of the...

A Democratic Congress, unwilling or unable to approve a $25 billion bailout for Detroit's Big Three, appears ready to punt the automakers' fate to a lame-duck Republican president. Caught in the middle of a who-blinks-first standoff are legions of manufacturing firms and auto dealers—and millions of Americans' jobs—after Senate Democrats canceled a showdown vote that had been expected Thursday. President George W. Bush has "no appetite" to act on his own.

WASHINGTON (AP) -- A Democratic Congress, unwilling or unable to approve a $25 billion bailout for Detroit's Big Three, appears ready to punt the automakers' fate to a lame-duck Republican president. Caught in the middle of a who-blinks-first standoff are legions of manufacturing firms and auto dealers — and millions of Americans' jobs — after Senate Democrats canceled a showdown vote that had been expected Thursday. President George W. Bush has "no appetite" to act on his own.

The top Senate Democrat sought Wednesday to lower expectations for legislation this week to help endangered domestic carmakers, saying it would be the Bush administration's job to save the industry if Congress doesn't. "The Congress need do nothing" if it can't agree on a bill to speed $25 billion in new loans to the industry, Sen. Harry Reid of Nevada told colleagues. While he told the Senate he still hoped lawmakers could agree to an auto deal in the "next day or two" of the current lame-duck session, he added: "If we can't do it here legislatively, I would hope...

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

Sen. James Inhofe Official Site:Sen. Inhofe Introduces Bill to Halt Handout of Bailout Funds (S. 3683) - - 11.17.08 ABSTRACT, Washington DC: Today, U.S. Senator Jim Inhofe (R-Okla.) introduced legislation to amend Section 115 of the Emergency Economic Stabilization Act (EESA) to require an affirmative vote on the part of Congress to approve Treasury's plan for the remaining $350 billion and require a freeze on any remaining funds of the first $350 billion, stating, "It is imperative that we not allow that amount of money to be added to a deficit approaching $1 trillion this year without any input from...

Barney Frank favors bailing out the Detroit automakers over letting them go into bankruptcy. Chief among his concerns is that bankruptcy might "bust" the unions. You know, those organizations whose contract demands have put Detroit on the brink of extinction. The Massachusetts Dem, chairman of the House Financial Services Committee, was interviewed by Maggie Rodriguez on today's Early Show. He appeared alongside Sen. Richard Shelby (R-Al.), ranking Republican on the Senate Banking Committee, who favors letting the automakers reorganize under Chapter 11. View video here.

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed. Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

WASHINGTON (AP) -- Prospects dimmed on Monday for the $25 billion bailout that U.S. automakers say they desperately need to get through a bleak and dangerous December. Though all sides agree that Detroit's Big Three carmakers are in peril, battered by the economic meltdown that has choked their sales and frozen loans, the White House and congressional Democrats are headed for stalemate over how much government money should go toward helping them. Behind the logjam is a troubling reality for the car companies: Bailout fatigue has set in at the White House and on Capitol Hill, where many in both...

A card-check law would give union bosses an unfair advantage in organizing the workplaceTHE ISSUE: A card-check law would give union bosses an unfair advantage in turning workplaces into union shops. Probably no group celebrated the election of U.S. Sen. Barack Obama as president more than organized labor. For decades, labor unions have watched membership rolls dwindle. In 1983, union members made up 20.1 percent of employed wage and salary workers, according to the U.S. Department of Labor. Today, the union membership rate is down to about 12 percent. In Alabama, union membership is even lower, about 9.5 percent. The...

Toyota, BMW, Hyundai Workers' Senators Oppose Rescue

Four generations of my family worked in General Motors Plants. My great grandfather, grandfather, father, brothers and I all worked for Buick Motor Division in Flint, Michigan. After working my way through college at the Buick Engine Plant, I became an economic analyst and then a supervisor at another GM plant. My family was so loyal to General Motors that we considered a Ford a foreign car. This is why it makes it particularly painful for me to say that there should not be a bailout.

Jim Manzi has done some of the best analysis of the proposed bailout of GM, Ford and Chrysler--or, one should more properly say, bailout of the United Auto Workers, otherwise slated for extinction. Here, he addresses the theory that the Big Three are in the midst of a turnaround, and if we only keep them afloat a while longer, they'll be profitable again. This chart pretty much says it all:[go to site for chart] AutoSales713.gif Bob Cunningham, meanwhile, does some basic arithmetic: As of the close of business on Friday the market cap for General Motors was about $1.9 billion,...

The failure of one or more of Detroit’s Big Three automakers would put a huge initial dent in American manufacturing, but in time foreign car companies would pick up the slack by stepping up production in their plants here, many industry experts and economists say. Whether Washington should let that play out — risking hundreds of thousands of jobs — is a central question Congress will weigh this week as it hears testimony from Detroit leaders who are pushing for immediate federal intervention, before the next administration takes over in January. “Barack Obama has made it clear he understands the...

WASHINGTON, Nov. 16 (UPI) -- U.S. Sen. Carl Levin of Michigan said Sunday he would not object to firing executives of U.S. automakers that get proposed federal bailout money. The Democrat said in an appearance on NBC's "Meet the Press" program that senior management at General Motors Corp. (NYSE:GM), Ford Motor Co. (NYSE:F) and Chrysler Corp. should consider resigning their posts if it means their respective firms can get federal assistance. Congressional lawmakers are considering $25 billion in emergency loans for the struggling car makers. The Senate reportedly will take up a bailout proposal Monday. "If it was the difference...

Sen. George V. Voinovich, R-Ohio, said last week that federal bailout dollars should go to the U.S. auto industry. Voinovich isn't saying how much he thinks should be handed out, but the Bush administration has expressed opposition to extending the bailout directly to the auto industry. Many Democrats are calling for a rescue package of $25 billion to $50 billion for the industry. Voinovich, co-chairman of the Senate Auto Caucus, "believes helping the automakers remain viable is truly putting Main Street over Wall Street," said Voinovich spokesman Chris Paulitz. Voinovich is working on the matter with Democratic Sens. Carl Levin...