Results 1 to 5 of 5

Thread: United Autoworker (UAW) chief pleads for government aid

  1. #1
    Elite Member celeb_2006's Avatar
    Join Date
    Jul 2006
    Posts
    13,468

    Default United Autoworker (UAW) chief pleads for government aid

    Autoworker chief pleads for government aid - Yahoo! News

    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.
    "I don't believe it is a good idea to take $25 billion and give it to the three major car companies, which I think have a business plan that's doomed to fail," he said.
    Like many Republicans and some Democrats, Graham said it would be better to allow one or more of the struggling companies to go under and restructure in bankruptcy.
    Sen. Claire McCaskill, D-Mo., said she's willing to consider an auto bailout, but not before she Congress gets a clear accounting of the companies' financial situation.
    "We need to behave like a bank," McCaskill said. "And we need to make sure that we get all of those internal financials and that we feel comfortable that this is a good investment for the American taxpayer."
    The Senate Banking, Housing and Urban Affairs Committee is scheduled to meet Wednesday on the automakers' plans. The House Financial Services Committee has set a Friday session.
    "They have to show a plan that shows that the $25 billion gets them to the point of viability. They have to show us a plan of how they're going to restructure their industry. They have to show us a plan about not opposing higher fuel efficiency (standards). If they do those things, there will be support for them," said Sen. Robert Menendez, D-N.J., a member of the Senate committee.
    The UAW is willing to consider more concessions on wages and benefits as part of any new federal aid, Gettelfinger said, but other parties have to share in the sacrifice.
    "We're prepared to go back to the table," Gettelfinger said. Still, he added, "Based on the changes we've made to our contracts, we are competitive" already.

    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.

    House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., have ordered Chrysler, Ford and GM executives to address all those issues in the plans they submit to Congress.

  2. #2
    Elite Member msdeb's Avatar
    Join Date
    Feb 2006
    Location
    in a van down by the river
    Posts
    39,431

    Default

    shit, they are all coming out of the woodwork asking for help. why doesnt the government just help the regular consumer. i'd love to have some help.
    Basic rule of Gossip Rocks: Don't be a dick.Tati
    Lighten Up Francis WCG

  3. #3
    Gold Member ymeman's Avatar
    Join Date
    Aug 2008
    Posts
    1,415

    Default

    I worked for one plant that made fuel pumps and employed about 500 people. Next door was a plant that made a few more parts and employed about a thousand people. If you think about how this could spread out to so many different plants across the nation and how many people it could put out of work it is really depressing. I made the best salary I ever had and had great benefits. Most of the people I worked with wouldn't have another shot at a middle class wage like that in that area of the country.

  4. #4
    Elite Member
    Join Date
    Oct 2005
    Posts
    4,128

    Default

    I wrote in on Obama's website with the following suggestions:

    1) No emergency loans will be distributed until the company has a specific 5-year business plan in place to pare down their product line to 5 or 6 fuel-efficient vehicles. The plan will include distinct phases and the loan money will be distributed in installments at the completion of each phase.

    2) Executive salaries should be capped at a reasonable amount and bonuses contingent upon completion of each phase. Additionally, companies should be required to use their significant cash reserves to put toward the re-tooling efforts.

    3) A portion of the loan should be used for in-house education to get the workers trained for the new technologies.

    4) Laid off workers' severance packages will include prepaid tuition at a community college of their choice so that they can train for a new career outside of the auto industry.

  5. #5
    Elite Member RevellingInSane's Avatar
    Join Date
    Mar 2007
    Location
    Where Being PC is understood as a fault!
    Posts
    11,592

    Default

    While I support aiding the auto industry, I do not support aiding them in carrying on their obviously flawed business tactics.

    The industry must be overhauled and restructured. Rules should be implemented to prevent the high level executives from profiting while others are laid off and the company slides into bankruptcy. The wages have to be brought to reasonable levels.



Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 4
    Last Post: November 27th, 2008, 05:43 AM
  2. Is the United States a rogue state?
    By buttmunch in forum U.S. Politics and Issues
    Replies: 25
    Last Post: September 28th, 2006, 04:02 PM
  3. The United Nations...Ushering in the NWO
    By Delphinium in forum Politics and Issues
    Replies: 11
    Last Post: September 27th, 2006, 01:02 PM
  4. Madonna: 'Guy Ritchie and I are united'
    By MaryJane in forum Gossip Archive
    Replies: 5
    Last Post: February 19th, 2006, 12:11 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •