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Auto Bailout fails - UAW to blame???
United Auto Workers' refusal to set a "date certain" to put employees at U.S. auto manufacturers at "parity pay" with U.S. employees at foreign automakers in the United States. (CNN) -- Senate Democrats and the White House failed to find 60 votes to end debate on a $14 billion auto bailout bill and bring it to a vote Thursday night, killing the measure for the year. The 52-35 vote followed the collapse of negotiations between Senate Democrats and Republicans seeking a compromise. "We have worked and worked and we can spend all night tonight, tomorrow, Saturday, and Sunday, and we're not going to get to the finish line," Senate Majority Leader Harry Reid said on the Senate floor before the vote. "That's just the way it is. There's too much difference between the two sides." Reid acknowledged the bill would not survive the procedural vote. Senate Minority Leader Mitch McConnell said the sticking point was the United Auto Workers' refusal to set a "date certain" to put employees at U.S. auto manufacturers at "parity pay" with U.S. employees at foreign automakers in the United States. Currently, analysts estimate the union workers at U.S. automakers make about $3 to $4 per hour more than the non-union U.S. employees of foreign automakers like Toyota and Honda, according to the Center for Automotive Research. Video Watch the market ramifications of the bailout failure » The House easily passed the bailout bill earlier this week, but it quickly ran into trouble in the Senate, where Republicans objected to several provisions. Negotiations Thursday involved a compromise proposal put forward by Sen. Bob Corker, R-Tennessee, but the senators could not reach agreement. The collapse of negotiations could possibly doom General Motors to a bankruptcy and closure in the coming weeks, with Chrysler potentially following close behind. While Ford Motor has more cash on hand to avoid an immediate crisis, its production could be disrupted by problems in the supplier base, as could the production of overseas automakers with U.S. plants such as Toyota Motor and Honda Motor. The struggling automakers may get some money anyway. As part of their effort to urge skeptical Republicans to back the deal, Bush officials made clear that if Congress didn't act, the White House would have to step in to save Detroit from collapse with funds from the Troubled Asset Relief Program, according to the sources familiar with the conversations. One of the sources said that a White House official made it clear to a GOP senator that would be the worst option, because the loan could go to the auto companies with few or no requirements along with it. advertisement The sources asked not to be named because of the sensitivity of private conversations. Democrats pressed the White House from the start to help Detroit by using some of the $700 billion for the financial sector, but the White House and Treasury Secretary Henry Paulson refused. "I would only hope that the president, who has worked so well with us for the past several weeks, would now consider using the TARP money," Reid said after Thursday night's vote. |
Well this is what I think. I think GM should have realized that building WAY more cars and trucks than they needed was going to backfire. I think that this 15B could be spend elsewhere instead of on the company's that are trying to screw everyone over. I think giving someone who works on an assembly line screwing in the same 30 bolts over and over again 30$ an hour plus full benefits is a mistake (flame away, but its true). I think if we gave them the 15B they would just use it to take more of the production lines over seas anyways.
Further, GM and Chrysler have far too many lines that are way too similar. Look at ford. Ford only has 1 or 2 types of cars for the class (truck, car, suv) and they are one of the company's that said that they don't need to be bailed out. I just dont think that I should have to pay for there mistakes. Maybe if they made something half decent and weren't so greedy they wouldn't be in this mess. E/ I would also like to say that today we were discussing this at my job site and someone brought up another good point. GM has been around for a 100 years, you cant honestly tell me that the events that have unfolded over the last few months have suddenly bankrupted them. This is total bullshit. Not to mention, what about the plants in Asia that they have, I hear GM is booming in Asia right now? If there asking for 15B why hasn't Mexico or china or any were else where GM has plants been asked for the money? |
^ Well said
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Agreed, as the song goes "let the motherf#$ker burn". Why should I have to pay for their mess up?
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We should have all been buying ChryCo, Ford and GM cars this whole time. Now we get the price tag(s) of our quality built cars and a bailout price tag!
. I did by a couple of GM products within the last few years. Those SOBs, time to go with the small guy! :)Scion! |
How do you figure that we should have been buying Domestic the whole time? If they'd actually built something I'd drive and like I would have bought it. Keep building loads of crap you can't sell and paying facotry workers more then they should be and you end up shooting yourself in the foot, I have no sympathy towards them. They had their chance, let them burn and learn. I bet they will think twice now when/if they restructure.
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If GM Ford and Dodge had been paying attention to what VW Honda Toyota and Nissan, and even Kia have been doing, they wouldn't be in this situation. They had it coming, and we're all going to suffer for it. :smilie_d0 North America was invaded by Germany in the 60's, and Japan in the 70's, and it's only take 40 years for the north american auto makers to realize it.
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