Gettelfinger tells Senate of UAW sacrifices
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David Barkholz
Automotive News
November 18, 2008 – 5:15 pm ET

 
UAW President Ron Gettelfinger told a Senate hearing today on an automaker rescue package that the union has made many sacrifices since 2005 to boost the competitiveness of the Detroit 3.
He said the union supports the call for $25 billion [...]

Off with their heads! (But whose?)
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Lindsay Chappell
Automotive News
November 18, 2008 – 3:12 pm ET

 
If Congress demands new management in exchange for financial aid to the Detroit 3, legislators may have a tough time figuring out which executives must be replaced.
Two of the Detroit 3 already are steered by the type of leaders often [...]

Auto aid may hinge on additional conditions, Senate leader says
Most Republicans oppose industry help
queryvar=”auto,aid,may,hinge,on,additional,conditions,senate,leader,says”;
Harry Stoffer
and David Barkholz
Automotive News
November 18, 2008 – 5:21 pm ET
UPDATED: 11/18/08 9:03 p.m. EST

 
WASHINGTON — Senate proponents of $25 billion in emergency loans for automakers don’t have the votes to pass the measure without additional conditions on [...]

Paulson, Democrats Clash on Bailout for Homeowners (Update2)
By Rebecca Christie and Alison Vekshin

Nov. 18 (Bloomberg) — Treasury Secretary Henry Paulson rejected using the government’s financial-rescue program as a “panacea” for economic difficulties, clashing with lawmakers who want the funds to help beleaguered homeowners.
“The rescue package was not intended to be an economic stimulus or [...]

Carmaker Failure Would Be Catastrophe, Wagoner Says (Update4)
By John Hughes

Nov. 18 (Bloomberg) — The U.S. economy would suffer a “catastrophic collapse” if domestic carmakers fail, General Motors Corp. Chief Executive Rick Wagoner said, as the nation’s auto industry renewed appeals to Congress for federal aid.
Three million jobs would be lost within the first year, [...]

Tuesday, November 18, 2008
Gettelfinger: No wage or benefits cuts
David Shepardson / Detroit News Washington Bureau
WASHINGTON — United Auto Workers President Ron Gettelfinger will tell a Senate panel today that Detroit’s Big Three automakers face liquidation if forced into bankruptcy and warned that taxpayers would have to pay at least $3 billion a year if the [...]

Auto companies would get swift aid under Senate bill
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Harry Stoffer
Automotive News
November 18, 2008 – 12:01 am ET
UPDATED: 11/18/08 10:11 a.m. EST

 
WASHINGTON — Auto companies would be able to receive emergency aid within a month under a Senate proposal for a $25 billion loan package that circulated here late Monday.
If enacted, the bill [...]

Tuesday, November 18, 2008
Commentary: Negotiate a new car deal
Douglas Olin
One of the first real challenges President-elect Barack Obama faces will be what to do about the ailing American auto giants.
The stakes are high. For more than 100 years, the Big Three automakers have been a cornerstone of the U.S. economy and an important symbol of [...]

Tuesday, November 18, 2008
Commentary: Create financial bridge for automakers
Jeffrey D. Sachs
A government-supported restructuring of the auto industry is urgently needed for our economic and energy security. If the Bush administration allows the auto industry to collapse, it will compound the panic that started with the bankruptcy of Lehman Brothers. Washington should seize the opportunity to [...]

Tuesday, November 18, 2008
Ron Gettelfinger
Commentary: Keep Main Street’s job engine running

It’s time to stand up for the Main Street economy.
In the face of a global credit crisis and a worldwide economic downturn, U.S. auto sales have slowed to a crawl. As insecurity spreads throughout the economy, consumers are delaying major purchases — and those who [...]

Tuesday, November 18, 2008
Editorial: Big 3’s critics have got the facts wrong
The Detroit News
Ignorance and misinformation are the greatest obstacles facing automakers this week as they try to convince Congress that financial assistance from the government is essential to saving the industry.
Few in Washington have their facts right when it comes to these companies.
Sunday, Sen. [...]

Tuesday, November 18, 2008
Blitz starts for Big 3 aid as Reid introduces bill to tap into $700B bailout
Senate debate starts; use of $700B bailout hits opposition; House plan also differs on loan oversight
David Shepardson / Detroit News Washington Bureau
WASHINGTON — House and Senate Democrats unveiled competing bills Monday that would give the auto industry $25 [...]

Tuesday, November 18, 2008
Daniel Howes: Commentary
Political titans clash in auto loan war

Detroit’s bailout battle in Washington, shifting this week into high gear, is about more than the survival of three automakers.
It’s a multifront war between warring factions in Congress, titanic political egos, union versus nonunion companies and competitive business models within a single industry. And [...]