Back on Capitol Hill Auto Executives Still Find Skeptics
The News Review:
- Back on Capitol Hill Auto Executives Still Find Skeptics
- Auto Workers Union’s Remarks to Senate
- Falling Market Share Another Hurdle For Detroit Auto Makers
- Auto chiefs make return trip to Congress
Back on Capitol Hill Auto Executives Still Find Skeptics
New York Times United States
“They are substantial. ” The White House said it stood ready to aid the auto industry by speeding up access to.
Auto Workers Union’s Remarks to Senate
FOXNews
Chairman my name is Ron Gettelfinger. I am President of the International Union United Automobile Aerospace & Agricultural Implement Workers of America (UAW). The UAW represents one million active and retired members many of whom work for or receive retirement benefits from the Detroit-based auto companies and auto parts suppliers across the United States. We welcome the opportunity to appear before this Committee to present our views on the state of the domestic automobile industry: The UAW believes the situation at GM Ford and Chrysler is extremely dire. As is evident from the materials which have been submitted by the companies in response to the letter from Speaker Pelosi and Majority Leader Reid it is imperative that the federal government act this month to provide an emergency bridge loan to the domestic auto companies. Without such assistance GM could run out of funds by the end of the year and Chrysler soon thereafter. These companies would then be forced to liquidate ceasing all business operations.
Related from Careersemploymentmonster: Auto job losses boost unemployment
Falling Market Share Another Hurdle For Detroit Auto Makers
CNNMoney.com
In making the case that a $34 billion lifeline from the federal governmentwill sustain the auto makers through a recession the companies predict theywon’t lose much more ground to foreign-based rivals in the U. That assumption was met with heavy skepticism on Thursday by lawmakers whopointed to decades of declining share as General Motors Corp. (GM) Ford MotorCo.
Auto chiefs make return trip to Congress
Los Angeles Times CA
) said at the start of a nearly six-hour hearing. “Make no mistake about it — those consequences would be severe and sweeping. “The auto executives face another grilling today when they appear before the House Financial Services Committee which gave them an even rougher mauling than the Senate panel last month. The idea of paying out government funds in installments rather than all at once appeared to gain traction among members of Congress though nothing approaching a final deal was at hand. As described to the auto executives about half the money would be disbursed quickly to keep the companies afloat through March 31. The rest would be held back until a government board of trustees was convinced that the companies were making progress toward becoming more competitive and retooling their lineups to offer more fuel-efficient cars.
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