Kaboom! Auto Bailout Talks Collapse!

[laarree]

http://www.nytimes.com/aponline/2008/12/...os.html?hp

I don't have a strong opinion about this, as I really don't know what the
right or best thing to do would have been, but by golly, I thought I'd
be the first to post the news!

[OWC Jamie]

Lee Iacocca didn't get his loan overnight with just a handshake, either.
I hope the market doesn't react too negatively tomorrow.

[laarree]

Someday in the future we'll look back at all this stuff and laugh.
Or cry. I don't know. :S

[lafinfil]

"The group came close to agreement, but it stalled over the UAW's refusal to agree to wage cuts before their
current contract expires in 2011. Republicans, in turn, balked at giving the automakers federal aid."

So apparently I missed the part in the massive Wall Street bail out where all those bankers
agreed to taking huge salary cuts. Many are still getting multi million dollar bonuses.
I wonder how many of those bonuses it would have taken to made up the difference if they UAW took the cuts.

Chris Dodd had it right when he said that Rick Wagoner should step down as the head of GM

[vision63]

In Dick Cheney's America, the working man/woman must be de-monied before they'll give it to the rich man/woman.

[laarree]

vision63 wrote:
In Dick Cheney's America, the working man/woman must be de-monied before they'll give it to the rich man/woman.

Yesss, redistributing the wealth, that's what they call that.

[Black Landlord]

http://news.yahoo.com/s/ap/20081212/ap_o...ress_autos

That bill — the product of a hard-fought negotiation between congressional Democrats and the Bush White House — was virtually dead on arrival in the Senate, where Republicans said it was too weak in its demands on the car companies and contained unacceptable environmental mandates for the Big Three.

Environmental mandates? Unacceptable!

[laarree]

Black Landlord wrote: That bill — the product of a hard-fought negotiation between congressional Democrats and the Bush White House — was virtually dead on arrival in the Senate, where Republicans said it was too weak in its demands on the car companies and contained unacceptable environmental mandates for the Big Three.

Environmental mandates? Unacceptable!

Is this one of the last gasps of the pre-January 20th divided Senate?
I do hear some wheezing...

[JoeH]

laarree wrote:
[quote=Black Landlord]That bill — the product of a hard-fought negotiation between congressional Democrats and the Bush White House — was virtually dead on arrival in the Senate, where Republicans said it was too weak in its demands on the car companies and contained unacceptable environmental mandates for the Big Three.

Environmental mandates? Unacceptable!

Is this one of the last gasps of the pre-January 20th divided Senate?
I do hear some wheezing...
The new Congressmen and Senators will start with the next term on January 6th. So it probably is the last gasp for some. Also some are setting themselves up to get re-elected in 2010. They have assembly plants for Japanese makes in their states, and bringing down pay for UAW workers to what the workers there in their states make may go over well.

[kap]

Those CEOs will resign and switch over to working for banks! No pause raking in the bonuses!