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Auto bailout scrubbed



Published: Thu, December 11, 2008 @ 11:00 p.m.

WASHINGTON — A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

Senate Majority Leader Harry Reid said he was “terribly disappointed” about the demise of an emerging bipartisan deal to rescue Detroit’s Big Three.

He spoke shortly after Republicans left a closed-door meeting where they balked at giving the automakers federal aid unless their powerful union agreed to slash wages next year to bring them into line with those of Japanese carmakers.

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts — but not until 2011, when its contract expires. The Detroit-based Big Three automakers each employ thousands in Ohio.

Voinovich senior adviser Chris Paulitz said the issue is now legislatively done and is in the hands of the White House. He said the failure to reach a deal has deeply disappointed the senator.

For the full story, read Friday's Vindicator or Vindy.com.


Comments

1MinisterD(25 comments)posted 6 years ago

I understand that the unions are trying to protect the workers and wages, but what is better? Something, or nothing?

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2Nonsocialist(710 comments)posted 6 years ago

Perhaps the UAW should be happy that they were able to extort what they have, for as long as they have. But now the party's over, they've "Youngstownified" the auto industry. Giving billions of hard earned dollars (Not hard earned from the gov't, but from us) to these inept and failed businesses is legislative malpracrice. President Reagan busted the Flight Controllers union because it was felt to be in the interests of the national welfare. If these failed automakers are so important to the national well being, then bust their union for the same reason.

This is a bailout of the UAW, and not of the auto industry.

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3dmets(575 comments)posted 6 years ago

I guess the workers would rather no pay or unemployment checks. They are dumb! I don't think they realize if they get layed off, they will not get to collect 95% of there wages anymore!

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4DoctorGonzo(728 comments)posted 6 years ago

I thought the dems held a majority in the senate.

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5a_non_e_mouse(15 comments)posted 6 years ago

50% of something in better then 100% of nothing
Go Union!! Look out for oour best interest as you sit on the beach and we eat ramen soup.

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6bubba55(1 comment)posted 6 years ago

I wonder if Bob Corker would be willing to give back 50% of his salary. After all with the collapse of the employment in this country comes a huge loss in tax revenue much like the profit loss at the big three. I think if Mr. Corker really cared about this country he would do what is right and work for nothing next year and put himself and the rest of the representatives into the social security system like the people they represent. Why should they be any different?

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7sobeit(98 comments)posted 6 years ago

UAW is nothing but a bunch of selfish bastards! 2011 is too late for a paycut. GM won't be there in 2011 now because of them.

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8scrooge(563 comments)posted 6 years ago

This is great! For once a blog where I can't even find one point I disagree with.
The Dems will find a way to back door the proposal. They can't afford to lose the huge contributions made by the UAW.
I sincerely hope Bush doesn't cave on this. Kudos to the Republicans (and some Democrats) for having enough balls to demand a little give before they take. The UAW should be booted!

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9hillbilly20(5 comments)posted 6 years ago

the reason the automakers have failed is because of the price of a vehicle which has to be because of the rediculous wages they recieve. the unions brought down the steel industry the same way in the late 70's and now the automakers. let them file chapt 11 and renigotiate there cotract.

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