Wall RSS FeedAuto industry seeks $50B in loans from Congress
Low interest loans would be used to help them modernize the industry’s assembly plants and develop next-generation fuel-efficient vehicles.
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WASHINGTON (AP) — – Automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly plants and develop next-generation fuel-efficient vehicles.
Industry officials said the loans, which are twice the amount authorized in last year’s energy bill, are a top priority when Congress returns next month because of the declining fortunes of Detroit’s automakers and tightening credit markets.
August 28th, 2008 at 5:16 am
What a sweet deal this would be. Screw your current employees out of pay raises, screw new employees with a tiered wage, and cap, and screw parts suppliers over left and right. And to top it all off, screw over the TEAMSTER CARHAULERS who deliver your product, WITH THE HELP OF FRED SUCKERMAN…
And then screw over the tax payers by getting a government funded bail out. The business of auto maker and carhauler sickens me this year. I CAN’T TAKE MUCH MORE. HELLO PEOPLE!!!
September 1st, 2008 at 1:04 am
On that note here is my plan for the future. I want a benefit and compensation package just like zuckerman . breif but comprehensive, all I want is less to do , more time to do it in , and more money for not getting it done.
September 2nd, 2008 at 4:43 am
Sounds like a Union elected position. Sorry, the people in office aren’t going to give up their jobs for you brother.They are not going to appoint to to a position like that either. I really don’t know how, you end up with a gig like that, but what do I know, I’m just a rank and file Teamster driver, with an ever shrinking paycheck.
October 17th, 2008 at 4:02 am
Low interest loans a good idea but a little to late. We should of thought about this years ago.