The News Review:
- Weekend session may be needed for auto vote Sen. Reid says
- House vote on auto rescue bill under way
- The Auto Industry’s Forgotten Legacy: Diversity
- GM: Who could replace Wagoner?
- ‘Car Czar’ Other Oversight in Auto Bailout Plan
Weekend session may be needed for auto vote Sen. Reid says
MarketWatch
A vote appears unlikely Wednesday Reid said a day after Democrats and the White House reached agreement in principle on a plan for $15 billion in loans to the automakers. Shares of Ford Motor Co. and General Motors Corp. were higher Wednesday over optimism about a rescue plan.
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House vote on auto rescue bill under way
Detroit Free Press United States
automakers should get “just one more chance” to save their industry. “Since the day the Model T’s first rolled off Henry Ford’s assembly line owning a car has been part of the American Dream” Pelosi a California Democrat and frequent critic of the auto industry said during debate tonight. “But today the American automotive industry is imperiled. Today we are considering legislation not as life support to sustain a dying industry but a jump start for an industry that is essential to our country’s economy”This legislation is about offering Detroit and America to get a chance to get back on track” she said. She said the decision to aid the automakers “actually comes down to a question of tough love. ” Approving the loan package she said is “giving a chance just one more chance to this great industry.
The Auto Industry’s Forgotten Legacy: Diversity
TIME
“Those bankers make huge windfalls and the executives walk away with golden parachutes. These are hardworking American workers who make up the industrial core in this country. So many other industries depend on the existence of the U. ” Warren David adds that while the younger immigrant generations are not as directly affected (many have received better educations and went on to become lawyers doctors and other professionals) their occupations are still being indirectly — and heavily — hit. “Michigan’s entire economy has been going down” he says.
GM: Who could replace Wagoner?
CNNMoney.com
Current CEO Rick Wagoner’s able lieutenant president and COO Fritz Henderson would seem a logical choice — but his chances seem slim. Some members of GM’s (.
‘Car Czar’ Other Oversight in Auto Bailout Plan
Washington Post United States
Iacocca for one has argued for an auto-sector bailout and is pushing for less “regulatory interference” on the part of government. James Blanchard (D-Mich. ) also told McClatchy that the original Chrysler bailout in 1979 worked in part because there wasn’t.