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Discuss House OKs $14B auto bill - Kinda in the alt.autos.gm forum at Car Dealer Forums; http://news.yahoo.com/s/ap/congress_autos WASHINGTON - A $14 billion rescue package for the nation's imperiled auto industry sped ...
  1. #1
    80 Knight
    Guest

    Default House OKs $14B auto bill - Kinda

    http://news.yahoo.com/s/ap/congress_autos

    WASHINGTON - A $14 billion rescue package for the nation's imperiled auto
    industry sped to approval in the U.S. House Wednesday night, but the
    emergency bailout was still in jeopardy from Republicans who were setting
    out roadblocks in the Senate.

    Democrats and the Bush White House hoped for a Senate vote as early as
    Thursday and enactment by week's end. They argued that the loans authorized
    by the measure were needed to stave off disaster for the auto industry - and
    a crushing further blow to the reeling national economy.

    The legislation, approved 237-170 by the House, would provide money within
    days to cash-starved General Motors Corp. and Chrysler LLC. Ford Motor Co.,
    which has said it has enough to stay afloat, would also be eligible for
    federal aid.

    Republicans were preparing a strong fight against the aid plan in the
    Senate, not only taking on the Democrats but standing in open revolt against
    their party's lame-duck president on the measure.

    The Republicans want to force the companies into bankruptcy or mandate hefty
    concessions from autoworkers and creditors as a condition of any federal
    aid. They also oppose an environmental mandate that House Democrats insisted
    on including in the measure.

    House Speaker Nancy Pelosi said it represented "tough love" for U.S. auto
    companies, and "giving a chance - this one more chance - to this great
    industry."

    The White House, struggling to sell the package to congressional
    Republicans, said earlier that a carmaker bankruptcy could be fatal to the
    auto industry and have a devastating impact on workers, families and the
    economy.

    "We believe the legislation developed in recent days is an effective and
    responsible approach to deal with troubled automakers and ensure the
    necessary restructuring occurs," said Dana Perino, the White House press
    secretary.

    But the measure faces a difficult road in the Senate, where it needs 60
    votes to advance. Rank-and-file Senate Republicans skewered the bill during
    a closed-door luncheon with White House Chief of Staff Josh Bolten, who was
    dispatched to Capitol Hill to make a case for the rescue package.

    Besides providing cash for the auto companies, it would create a government
    "car czar," to be named by President George W. Bush to dole out the loans,
    with the power to force the carmakers into bankruptcy next spring if they
    didn't cut quick deals with labor unions, creditors and others to
    restructure their businesses and become viable.

    Behind the scenes, Senate Democratic and Republican leaders scrambled for a
    deal that would allow votes on the bill on Thursday. Some GOP senators were
    demanding votes on an alternative that would order the automakers to take
    specific actions to restructure - including steep wage cuts and debt
    restructuring - in return for any federal money.





    › See More: House OKs $14B auto bill - Kinda

  2. #2
    Jim Higgins
    Guest

    Default Re: House OKs $14B auto bill - Kinda

    On Dec 10, 6:22*pm, "80 Knight" <nospam> wrote:
    > http://news.yahoo.com/s/ap/congress_autos
    >
    > WASHINGTON - A $14 billion rescue package for the nation's imperiled auto
    > industry sped to approval in the U.S. House Wednesday night, but the
    > emergency bailout was still in jeopardy from Republicans who were setting
    > out roadblocks in the Senate.
    >
    > Democrats and the Bush White House hoped for a Senate vote as early as
    > Thursday and enactment by week's end. They argued that the loans authorized
    > by the measure were needed to stave off disaster for the auto industry - and
    > a crushing further blow to the reeling national economy.
    >
    > The legislation, approved 237-170 by the House, would provide money within
    > days to cash-starved General Motors Corp. and Chrysler LLC. Ford Motor Co..,
    > which has said it has enough to stay afloat, would also be eligible for
    > federal aid.
    >
    > Republicans were preparing a strong fight against the aid plan in the
    > Senate, not only taking on the Democrats but standing in open revolt against
    > their party's lame-duck president on the measure.
    >
    > The Republicans want to force the companies into bankruptcy or mandate hefty
    > concessions from autoworkers and creditors as a condition of any federal
    > aid. They also oppose an environmental mandate that House Democrats insisted
    > on including in the measure.
    >
    > House Speaker Nancy Pelosi said it represented "tough love" for U.S. auto
    > companies, and "giving a chance - this one more chance - to this great
    > industry."
    >
    > The White House, struggling to sell the package to congressional
    > Republicans, said earlier that a carmaker bankruptcy could be fatal to the
    > auto industry and have a devastating impact on workers, families and the
    > economy.
    >
    > "We believe the legislation developed in recent days is an effective and
    > responsible approach to deal with troubled automakers and ensure the
    > necessary restructuring occurs," said Dana Perino, the White House press
    > secretary.
    >
    > But the measure faces a difficult road in the Senate, where it needs 60
    > votes to advance. Rank-and-file Senate Republicans skewered the bill during
    > a closed-door luncheon with White House Chief of Staff Josh Bolten, who was
    > dispatched to Capitol Hill to make a case for the rescue package.
    >
    > Besides providing cash for the auto companies, it would create a government
    > "car czar," to be named by President George W. Bush to dole out the loans,
    > with the power to force the carmakers into bankruptcy next spring if they
    > didn't cut quick deals with labor unions, creditors and others to
    > restructure their businesses and become viable.
    >
    > Behind the scenes, Senate Democratic and Republican leaders scrambled fora
    > deal that would allow votes on the bill on Thursday. Some GOP senators were
    > demanding votes on an alternative that would order the automakers to take
    > specific actions to restructure - including steep wage cuts and debt
    > restructuring - in return for any federal money.


    Money down the toilet, they will be back begging for more with Rick
    Wagoner leading the pack of piggies.

  3. #3
    80 Knight
    Guest

    Default Re: House OKs $14B auto bill - Kinda

    <coachrose13@hotmail.com> wrote in message
    news:d1f4fb23-55d9-4c1c-bb74-e51f1383b54e@m12g2000vbp.googlegroups.com...
    On Dec 10, 11:55 pm, Jim Higgins <gordian...@hotmail.com> wrote:
    > On Dec 10, 6:22 pm, "80 Knight" <nospam> wrote:
    >
    >
    >
    >
    >
    > >http://news.yahoo.com/s/ap/congress_autos

    >
    > > WASHINGTON - A $14 billion rescue package for the nation's imperiled
    > > auto
    > > industry sped to approval in the U.S. House Wednesday night, but the
    > > emergency bailout was still in jeopardy from Republicans who were
    > > setting
    > > out roadblocks in the Senate.

    >
    > > Democrats and the Bush White House hoped for a Senate vote as early as
    > > Thursday and enactment by week's end. They argued that the loans
    > > authorized
    > > by the measure were needed to stave off disaster for the auto industry -
    > > and
    > > a crushing further blow to the reeling national economy.

    >
    > > The legislation, approved 237-170 by the House, would provide money
    > > within
    > > days to cash-starved General Motors Corp. and Chrysler LLC. Ford Motor
    > > Co.,
    > > which has said it has enough to stay afloat, would also be eligible for
    > > federal aid.

    >
    > > Republicans were preparing a strong fight against the aid plan in the
    > > Senate, not only taking on the Democrats but standing in open revolt
    > > against
    > > their party's lame-duck president on the measure.

    >
    > > The Republicans want to force the companies into bankruptcy or mandate
    > > hefty
    > > concessions from autoworkers and creditors as a condition of any federal
    > > aid. They also oppose an environmental mandate that House Democrats
    > > insisted
    > > on including in the measure.

    >
    > > House Speaker Nancy Pelosi said it represented "tough love" for U.S.
    > > auto
    > > companies, and "giving a chance - this one more chance - to this great
    > > industry."

    >
    > > The White House, struggling to sell the package to congressional
    > > Republicans, said earlier that a carmaker bankruptcy could be fatal to
    > > the
    > > auto industry and have a devastating impact on workers, families and the
    > > economy.

    >
    > > "We believe the legislation developed in recent days is an effective and
    > > responsible approach to deal with troubled automakers and ensure the
    > > necessary restructuring occurs," said Dana Perino, the White House press
    > > secretary.

    >
    > > But the measure faces a difficult road in the Senate, where it needs 60
    > > votes to advance. Rank-and-file Senate Republicans skewered the bill
    > > during
    > > a closed-door luncheon with White House Chief of Staff Josh Bolten, who
    > > was
    > > dispatched to Capitol Hill to make a case for the rescue package.

    >
    > > Besides providing cash for the auto companies, it would create a
    > > government
    > > "car czar," to be named by President George W. Bush to dole out the
    > > loans,
    > > with the power to force the carmakers into bankruptcy next spring if
    > > they
    > > didn't cut quick deals with labor unions, creditors and others to
    > > restructure their businesses and become viable.

    >
    > > Behind the scenes, Senate Democratic and Republican leaders scrambled
    > > for a
    > > deal that would allow votes on the bill on Thursday. Some GOP senators
    > > were
    > > demanding votes on an alternative that would order the automakers to
    > > take
    > > specific actions to restructure - including steep wage cuts and debt
    > > restructuring - in return for any federal money.

    >
    > Money down the toilet, they will be back begging for more with Rick
    > Wagoner leading the pack of piggies.- Hide quoted text -
    >
    > - Show quoted text -


    No Jimbo, that aint so
    GM may come back begging, but Ricky wont be the one begging,
    One of the madates that our new "experts" on automoblie manufacturing,
    our own Congress, will be that he step down.
    Then they will madate that GM make nothing but Yugo type cracker-
    boxes, and at the same time, hand over the full size pickups SUVs, and
    large car market to the Japanese, who will then only increase their
    market share in the US.
    Hang in there, Jimmy, you may get your wish, after-all!
    ================================================== =====

    Responding to "Jim Higgins" is a waste of time. All he cares about is that
    his welfare check get's to his place on time.



  4. #4
    Jim Higgins
    Guest

    Default Re: House OKs $14B auto bill - Kinda

    coachrose13@hotmail.com wrote:
    > On Dec 10, 11:55 pm, Jim Higgins <gordian...@hotmail.com> wrote:
    >> On Dec 10, 6:22 pm, "80 Knight" <nospam> wrote:
    >>
    >>
    >>
    >>
    >>
    >>> http://news.yahoo.com/s/ap/congress_autos

    <snip>

    Detroit and "common sense" are oxymorons.

  5. #5
    HLS
    Guest

    Default Re: House OKs $14B auto bill - Kinda


    <coachrose13@hotmail.com> wrote in message news:d1f4fb23-55d9-4c1c-bb74-

    One of the madates that our new "experts" on automoblie manufacturing,
    our own Congress, will be that he step down.

    *************

    I havent seen what the bill entailed.. Were there other mandates?

    The story this morning seems bleak, with Wagoner having brought in teams
    to study the bankruptcy possibility, in the wake of the Senate's rejection
    of
    this bill.






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