CEOs of Big Three automakers plead for federal aid

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Lawmakers express skepticism about bailing out Detroit, citing the environment, unions and equity for workers at non-U.S. plants in their states. A vote on the issue could come as soon as today.By Jim Puzzanghera and Richard Simon 11:20 PM PST, November 18, 2008Reporting from Washington — Chief executives of the nation’s once-mighty Big Three automakers came to Capitol Hill on Tuesday to plead for $25 billion in federal aid, but the idea of bailing out Detroit has run into a wall of skepticism from a broad cross-section of lawmakers concerned about the environment, unions and Japanese auto plants in their home states.President Bush opposes providing emergency funds to Detroit automakers, though President-elect Barack Obama has called for aiding the U.S. industry. A vote on the issue could come as soon as today. more about “CEOs of Big Three automakers plead fo…“, posted with vodpod  Some lawmakers see a bailout through the prism of constituents who work in the auto industry — but not for General Motors, Ford or Chrysler.“I’m sure that I’m going to be asked, ‘Congressman, I work at Honda’ or ‘I work at Mercedes. I get $40 an hour,’ ” said Rep. Spencer Bachus (R-Ala.). ” ‘Why are you going to take my tax dollars and pay it to a company that’s paying their employees $75 an hour?’ “Others, like Sen. Jim Bunning (R-Ky.), oppose federal aid on ideological grounds. Although Kentucky is the third-largest producer of automobiles in the U.S. after Michigan and Ohio, with two Ford plants and a GM facility, Bunning thinks a Big Three bailout would be a mistake — just as he thought last month’s $700-billion Wall Street bailout was socialism.“I know Detroit’s pain is felt in the towns and cities all across Kentucky,” said Bunning, whose state is also home to a Toyota assembly plant, but “simply throwing money at the problem is not the answer.”Many a...
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2008

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Nov 19, 2008
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Lawmakers express skepticism about bailing out Detroit, citing the environment, unions and equity for workers at non-U.S. plants in their states. A vote on the issue could come as soon as today. By Jim Puzzanghera and Richard Simon 11:20 PM PST, November 18, 2008 Reporting from Washington — Chief executives of the nation’s once-mighty Big Three automakers came to Capitol Hill on Tuesday to plead for $25 billion in federal aid, but the idea of bailing out Detroit has run into a wall of skepticism from a broad cross-section of lawmakers concerned about the environment, unions and Japanese auto plants in their home states. President Bush opposes providing emergency funds to Detroit automakers, though President-elect Barack Obama has called for aiding the U.S. industry. A vote on the issue could come as soon as today. more about “CEOs of Big Three automakers plead fo…“, posted with vodpod     Some lawmakers see a bailout through the prism of constituents who work in the auto industry — but not for General Motors, Ford or Chrysler. “I’m sure that I’m going to be asked, ‘Congressman, I work at Honda’ or ‘I work at Mercedes. I get $40 an hour,’ ” said Rep. Spencer Bachus (R-Ala.). ” ‘Why are you going to take my tax dollars and pay it to a company that’s paying their employees $75 an hour?’ “ Others, like Sen. Jim Bunning (R-Ky.), oppose federal aid on ideological grounds. Although Kentucky is the third-largest producer of automobiles in the U.S. after Michigan and Ohio, with two Ford plants and a GM facility, Bunning thinks a Big Three bailout would be a mistake — just as he thought last month’s $700-billion Wall Street bailout was socialism. “I know Detroit’s pain is felt in the towns and cities all across Kentucky,” said Bunning, whose state is also home to a Toyota assembly plant, but “simply throwing money at the p
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