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Key senators reach tentative auto bailout deal By JULIE HIRSCHFELD DAVIS and DAVID ESPO, Associated Press Writers Julie Hirschfeld Davis And David Espo, Associated Press Writers 13 mins ago WASHINGTON �?A bipartisan group of senators reached tentative agreement Thursday night on an emergency $14 billion bailout for U.S. automakers, the Senate's top Democrat said. Majority Leader Harry Reid said the lead Republican architect of the deal was briefing colleagues on the compromise, and Democrats were prepared to move forward on it quickly. "We're ready to go," said Reid. His announcement came after hours of marathon talks at the Capitol between labor, lawmakers and the auto industry to salvage the Big Three rescue. The talks centered on possible wage and benefit concessions from the United Auto Workers union as well as large-scale debt restructuring by General Motors Corp., Ford Motor Co. and Chrysler LLC. The details of the agreement weren't immediately known, and it was not clear whether Republicans senators �?who revolted against an auto bailout the Bush White House negotiated with congressional Democrats �?would go along. Leaders stressed that the deal wasn't final. "All issues are still on the table," said Sen. Dick Durbin of Illinois, the No. 2 Democrat, as he emerged from the talks. But it was clear lawmakers had made substantial progress toward getting the auto industry aid back on track, and members of both parties were in search of an accord. continued here: LINK |
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SL, The deal is dead in the Senate. Perhaps the millions of contacts from citizens against the bailout program is having this positive effect. Chapter 11 is the only correct answer. Curm |
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| The Big Three have donated more money to republican candidates than any one else, and this is the thanks they get? |
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Buick, The Big Three have donated more money to republican candidates than any one else, and this is the thanks they get? Did they and you believe they had purchased the US Government with donations, and that the politicians would then vote against our nation in their behalf? Perhaps Congress people choose to retain their jobs instead. With or without the bailout, the pseudo-"BIG" three are toast based on bad management who will stay and Anti-American Consumer Unions. Good riddance to bad rubbish! Curm |
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I agreee!
Who do they think they are?
Banks? |
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Bush says he won't let the Big Three fail.
If only he had taken an interest in this stuff 8 years ago.
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| | From:  Opar5 | Sent: 12/12/2008 6:49 PM |
The "Big three" failing isn't the question, it's those onerous union "legacy costs," like featherbedding thousands of members who lost their function due to technology, yet still draw full pay and benefits (total over $70.00 an hour) just for showing up; unemployment supplements bringing laid-off workers to 90% of their "working" paychecks; and retirement programs far more generous than those in any other industry in the country. These costs add absolutely nothing to car-building except considerable prices for their cars. Without Chapter 11, any monies given the car companies will merely pay the companies operating costs for a few months before they're back for more. Like that joke of the guy who'd lost a fortune matching quarters in a bar against two other guys; when told they were cheating him, his response was "I know, but I'm too far behind to quit." I doubt anyone will assert that no congressman is that stupid, but we must agree that some certainly are. They seem a majority in the House, but not quite so in the Senate. GWB and his flunky Paulson are wondering what the problem is as they look for other tax-dollar resources to sacrifice to Union gluttony. Can anyone spell F-A-S-C-I-S-M? |
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Over $70 an hour in wages and benefits?
LMAO |
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| | | From: Opar5 | Sent: 12/12/2008 7:46 PM |
(# 13) Buick, Are you in sarcastic agreement, or disputing those "benefits" I listed in # 12 - or haven't you been paying attention? Where do you think the money came from to build the massive UAW palace? |
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That's about right, Buick. The Big Three just don't get it. But we do, right up the ass. |
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OK??? So if they break the backs of the unions and get the government to take over the health care cost, will American cars be 50% less then jap cars??? Just think if you could get a super good American high quality car at 50% less then a jap car. Wow man, just think of all the sales huh??? And quality is a non issue, becasue they all produce at six sigma thanks the Richard Deming so no one has a hand up on quality anymore. The answer is no. They will not lower the price, and they will continue to use free trade to break the backs of the american worker and kill the american dream forever. |
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If a substantial difference between the unionized companies and the non unionized companies exists, then by definition those added costs must either be taken from the union made vehicles or the price must fund those added costs. IP, Free trade is about serving the consumer ever greater efficiency, not breaking anyone. Americans are as free as anyone to compete in the global economy. Curm |
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