The Conservative Cave
Current Events => Economics => Topic started by: Miss Mia on November 20, 2008, 01:37:35 PM
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Dems demand business plan from Big Three (http://www.msnbc.msn.com/id/27824057/)
Dems will insist Big Three come up with a plan to transform industry
WASHINGTON - Democratic leaders in Congress decided Thursday to delay a vote to bail out automakers until December, according to officials, and will first demand the Big 3 companies show how the funds would transform their beleaguered industry.
An announcement was expected later in the day, these officials said. They spoke on condition of anonymity, saying they were not authorized to pre-empt a form announcement.
The big auto companies — General Motors Corp., Ford Motor Co. and Chrysler LLC — have been seeking government loans totaling $25 billion to stay in business until spring. Critics want to make sure the companies will use the money to transform their industry into one that is more competitive.
Until Democratic leaders reached their agreement, the bailout had appeared headed for defeat in Congress, with the fate of hundreds of thousands of workers and Detroit’s once-venerable car companies in the balance.
Senate Majority Leader Harry Reid, D-Nev., canceled plans for a vote on a bill to carve $25 billion in new loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans oppose that plan. They prefer tapping a different source of funds that is earmakred to help the industry manufacture more environmentally friendly products. But using those funds drew opposition from Speaker Nancy Pelosi, D-Calif., as well as environmentalists.
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That would take one Hell of a plan. Hard to imagine one that would actually work which does not contain the phrase "Move at least 250 miles from Michigan ASAP."
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I seem to recall that the old Soviet Union was big on plans as well. Seems to me a lot of them were as equally devoid of reality as the ones that Whorehouse Harry and Bella Pelosi would be looking for.
Wonder how that's gonna work out for the Big-3?
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That would take one Hell of a plan. Hard to imagine one that would actually work which does not contain the phrase "Move at least 250 miles from Michigan ASAP."
And "all contracts with the UAW and all other labor unions are null and void".
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Like the dims could understand a real world business plan.
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You would think the new President-Elect would have something to say about the situation.
*crickets* :uhsure:
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You would think the new President-Elect would have something to say about the situation.
*crickets* :uhsure:
He's too busy walking on water and healing the blind and the lame and leading the naked.
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Auto exec's, "Esteemed members of congress, we have a plan. It is a very democratic plan in nature. We are sure that all democrats will approve.... no we're certain democrats will approve. It is based on the very model of all democrat plans. We plan to throw money down a rat hole until hell freezes over or .........."
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Very interesting post Vonne. Thanks for posting.