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uaw gonna kill the bail out??

is the UAW going to kill the chances of a bail out

  • no

    Votes: 0 0.0%
  • yes

    Votes: 0 0.0%
  • maybe

    Votes: 0 0.0%

  • Total voters
    0
  • Poll closed .
A

Anonymous

Guest
GW is going to print them some now......

Auto aid plan revived as White House mulls loans
After proposal dies in Senate, Treasury says it would lend cash to Big Three

By Robert Schroeder & Greg Robb, MarketWatch

Last update: 4:41 p.m. EST Dec. 12, 2008Comments: 2231WASHINGTON (MarketWatch) -- The Bush administration breathed new life into a failed rescue package for U.S. automakers on Friday, signaling it will step in to prop up the Big Three following the collapse of a $14 billion rescue proposal on Capitol Hill.
Hours after the loan plan broke apart in the Senate, the Treasury Department declared that it stands ready to make available funds to automakers until lawmakers have time to consider a long-term rescue package next year.
"Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," said Treasury spokeswoman Brooklyn McLaughlin in a statement.
Separately, White House spokeswoman Dana Perino said funds to aid the sector might come from the government's $700 billion Troubled Asset Relief Program. She gave no indication of a time frame for a decision on the loans or conditions on them, however.
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http://www.marketwatch.com/news/story/white-house-breathes-new-life/story.aspx?guid=%7B081CBE42-3D1B-4884-B83F-2790DF2BB542%7D&dist=msr_12
 

TexasBred

Well-known member
Oldtimer said:
GW is going to print them some now......

Auto aid plan revived as White House mulls loans
After proposal dies in Senate, Treasury says it would lend cash to Big Three

By Robert Schroeder & Greg Robb, MarketWatch

Last update: 4:41 p.m. EST Dec. 12, 2008Comments: 2231WASHINGTON (MarketWatch) -- The Bush administration breathed new life into a failed rescue package for U.S. automakers on Friday, signaling it will step in to prop up the Big Three following the collapse of a $14 billion rescue proposal on Capitol Hill.
Hours after the loan plan broke apart in the Senate, the Treasury Department declared that it stands ready to make available funds to automakers until lawmakers have time to consider a long-term rescue package next year.
"Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," said Treasury spokeswoman Brooklyn McLaughlin in a statement.
Separately, White House spokeswoman Dana Perino said funds to aid the sector might come from the government's $700 billion Troubled Asset Relief Program. She gave no indication of a time frame for a decision on the loans or conditions on them, however.
.
http://www.marketwatch.com/news/story/white-house-breathes-new-life/story.aspx?guid=%7B081CBE42-3D1B-4884-B83F-2790DF2BB542%7D&dist=msr_12

Smart move for Bush. Now the suckers can crash "On Obama's Watch"
 

Steve

Well-known member
While I am about as anti-union as they get.. I question how a high corporate cost structure with high executive pay does less harm then high labor costs..

while labor costs and legacy costs are high at the big three it seems to me that the focus is only on the employee pay scales.. with no one looking at executives salary/bonus packages..

"U.S. CEOs' income is 550 times greater than the average employee's," says Abegglen. Citing figures from compensation consultants Tower Perrin, he says that in Japan, "the multiple is about 10 or 11 -

General Motors (GM) announced it was giving Chief Executive Officer Rick Wagoner's a 41% raise to $14.4 million, ( last year 2007)GM lost a record $38.7 billion.

Toyota's CEO, made a little over a million, CEO of GM makes 14 times What CEO of toyota makes.. but we are to be outrraged the employees get double what toyota employees make.

yet toyota made record profits in 2007.. and is in line to make the world's second-largest automaker by output, is expected to post an operating profit of $16.7 billion this year..

I don't feel either pay scale is in line with corporate earnings.. but to focus on the union wage alone is wrong and counter-productive.. as management pay is excessive as well... when your running a corporation and its bleeding money.. the belt can't be tightened on just the labor force..
 

Silver

Well-known member
Interestingly, the government of Canada today announced a 3.5 billion dollar bailout contingent on the US gov't doing the same thing (proportionally). Maybe they felt safe in doing this knowing it's not gonna fly in the US.
 

Big Muddy rancher

Well-known member
We have had some tough times in agriculture in both US and Canada.

I don't know why the auto industry doesn't do what we have been told to do.

DIVERSIFY :D

They could make one car and two washing machines. A car then a dryer.

A car then a tractor.
I don't know why that wouldn't work, :wink:
 

Silver

Well-known member
You know, you're right Big Muddy. Diversify and improve efficiency. Do more with less.
Perhaps they could build a truck, then a washing machines, a dryer, etc. and in their spare time get a second job and dump the earnings from that job straight into the company all the while hoping next year will be better than this year. Perhaps management should get their spouses to get second jobs as well and dump that money into the company.
Perhaps while they are busy doing all these things they should take the time to appreciate and accept the fact that it's not a 'living' they are making, it's a great 'way of life'.
 
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