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Seeking $25 Billion, Big Three to Get a Second Chance on the Hill
Kendra Marr
Washington Post
Saturday, Nov 22, 2008
In just 10 days, Detroit’s Big Three automakers hope to re-plead their case for a $25 billion emergency loan. But this time they will be expected to produce clearer business plans.
Yesterday, House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry M. Reid (D-Nev.) sent the automakers a letter calling on them to submit “a credible restructuring plan” by Dec. 2.
The letter came a day after congressional leaders delayed a vote on providing the auto industry as much as $25 billion in emergency aid.
President Bush, in his weekly radio address, castigated Democrats for failing to vote on an alternative proposal to let automakers instead tap $25 billion in loans that are supposed to help them improve the fuel efficiency of their cars.
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“If the automakers are willing to make the hard decisions needed to become viable, they should be able to receive the funds Congress already allotted to them for other purposes,” Bush said. “The American people expect their elected leaders to do what it takes to solve it.”
Pelosi and others have said there was not enough support in Congress to provide funding without a detailed turnaround plan.
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6 Responses to “Seeking $25 Billion, Big Three to Get a Second Chance on the Hill”
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| By N2H | |||||||||||||||||||||||||||||||||||||||||
November 22nd, 2008 at 7:32 am
if you are reading this and you are losing your job because you are working for these companies-i am sicerely sorry-i have stated over and over that they need to let these companies fail-they will be bought by someone else and operate as ussual with slave labor and no benifits-oh yea-the took the workers retirement and health benifits to boot-people have to lose it all before they will admit to thierselves that something is not exactly right-i worked hard all my life-people have inflated everything-people say that if they cant go to work for 150k,they gonna stay at the house and live off the government-imagine that-23k dont go far but i live-point is===everyone has to loose it all and fight back soon-lose-lose-lose=if we dont get united and fight back,there will be nothing to fight for-look at england-they are starting to really poison thier asses-because the government loves them-we all need to be screaming loader than ever-a few people i have been on are starting to come around because they see the things i have been preaching are comming true-i told them i was phsycic-looks like the stock market is gonna tuble on down next week-the strings are getting tangled on some of the puppets-many more will lose thier job in the weeks to come-drill everyone you know-they will be blaming people that defaulted on thier home morgages because that is what fox news says-they need to know the truth-i was furious when i learned the truth-i am commited-preach the truth
November 22nd, 2008 at 8:10 am
They should rather start making better cars:
Jack Nicholson’s Car
http://www.youtube.com/watch?v=TjfONpsFvyM
November 22nd, 2008 at 8:17 am
A little history on modern civilization:
Everything that we love about modern America was created by The Ford Motor Company and Thomas Edison.
Up until the early 1900*s and the development and mass production of the automobile by Henry Ford, founder of the Ford Motor Company, the vast portion of the population walked from here to there and worked like draft animals on farms. The only mechanized transportation was with the railroads. Railroads did not serve a statistically significant portion of the population. Street cars were only coming into use in the largest cities, being first pulled by horses.
This was the first time in the history of the earth that man had the ability to produce his own goods from the power supply of the Model A Ford and get them to market by use of the same. With this tool it did not take long for humanity to grow wings and fly. The Ford Motor Company also invented and put into place the device called a tractor which liberated hundreds of millions of men and women from incomprehensible drudgery of subsistence farming world wide.
The global steel industry was created by the Ford Motor Company as was the glass industry greatly expanded. There was now a use for rubber and a demand for copper wire and the beginnings of electrical controls. The machine tool industry was a creation of The Ford Motor Company also created the airline industry with the Ford Tri Motor, which is still in use in rural South America.
It is not a stretch to note that every manufactured item the reader can see was a direct result of the industry created around the Ford Motor Company.
Lamentably the American people grew fat and lazy with all these developments and cannot now see what it is about to lose.
November 22nd, 2008 at 1:32 pm
Last chance for GM 2 stop making crap cars or BUST!!
November 22nd, 2008 at 2:41 pm
How will this theatrical distraction play out? Congress pretends not to care about the auto makers. Then at the last minute, they bail them out. Then the Chinese step in when the dust settles, and quietly purchase all three.
November 22nd, 2008 at 2:43 pm
OR….Congress pretends not to care about the auto makers. They refuse to bail them out. And the Chinese just walk in and take all three in plain view.