Senate Republicans Kill Big-3 Auto Rescue Plan - Page 16 - Mercedes-Benz Forum

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post #151 of 181 (permalink) Old 12-12-2008, 09:32 PM
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Didja read page 39 of the excerpt? Kinda follows along with your Rockwell post....
That story is being, and has been played out over the past 20 years over and over again. Our technologies are moving offshore at a rate that is incomprehensible and our government does not seem to understand or care about the implications.

But the NeoCons just keep on screaming Free Trade, mostly without understanding what it means and certainly without understanding the ramifications of the concept from a position as a secondary power, which unfortunately we have become.

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post #152 of 181 (permalink) Old 12-12-2008, 09:36 PM
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Anybody 'for assistance' that thinks it's a darn shame the money to keep the scallywags afloat is going to come from the 700,000,000,000 already authorized to right the economy?
If you are asking if those who support the bridge loans think it is ok to draw the money down from the $700B fund, I have no problem at all with that. It is 2% of the money and is actually going to go more directly to taxpayers in the form of payroll and to suppliers for tangibles instead of to prop up the sliding derivatives and hedge fund ratios.

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post #153 of 181 (permalink) Old 12-13-2008, 01:05 AM
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Wooo hoo one of the KY boys...
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The bill was doomed after it was opposed by Senate Republican Leader Mitch McConnell, whose home state of Kentucky has a 7,000-employee Toyota plant. Bush, a lame-duck president with low approval ratings, did not have the political power to push McConnell to back the loan package.
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post #154 of 181 (permalink) Old 12-13-2008, 03:39 AM
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Southern senators who slammed on the brakes

There was a time when American politicians could not afford to be seen behind the wheel of an imported car. But the collapse of the $14bn bail-out underscores the new regional reality: the rise of foreign motor companies in the southern US has created a new breed of dogged Republican critic of GM, Ford, and Chrysler in the US Senate.

Bob Corker, Tennessee

This self-made construction executive arrived in Washington last year as the most junior of the 100 senators, but this has not stopped him wielding huge influence over the auto industry bailout.

During the US motor executives' tense appearances before the Senate banking committee, Corker's folksy manner belied his pointed condemnations of the big three's business decisions. He was hard enough on Chrysler chief Bob Nardelli to prompt hundreds of United Auto Workers union members to protest outside his office this week.

Corker's state is home to the US headquarters of Nissan as well as a planned Volkswagen factory, but Tennessee also hosts the GM plant that turned out the first fuel-efficient Saturn model in 1990.

When the Detroit rescue first appeared dead yesterday, Corker joined talks with carmakers and Democratic leaders in an attempt to sway his fellow Republicans. He won nearly all the concessions he sought from the UAW union, but his insistence on bringing wages in line with foreign competitors by next year helped kill the bailout.

Richard Shelby, Alabama

The senior Republican on the banking panel, Shelby is a longstanding critic of the "big three" whose home state has offered millions of dollars in tax incentives to lure foreign carmakers. Alabama now boasts factories for Mercedes-Benz, Honda, and Toyota, all of them dependent on the same American parts suppliers as GM, but none of them openly pressing for a bail-out for their competitors.

Shelby has opposed the $700bn Wall Street bail-out and this week's car industry aid from the start. He dubbed the $14bn Detroit package a "bridge loan to nowhere", blanketing TV with predictions of bankruptcy for one or more of the US motor companies. Shelby is up for re-election in less than two years, and the populist anger aroused by his criticism of American carmakers could mean a harder road.

Mitch McConnell, Kentucky


The Republican Senate leader was seen as dealing the first blow to the auto bailout with his assertion on Thursday that the car workers union had not given up enough to justify the $14bn loan.

Fevered lobbying from car dealers and parts makers in his home state, which has three US-owned car factories as well as a large Toyota plant, was not enough to persuade McConnell. "None of us want to see [GM, Ford, and Chrysler] go down, but very few of us had anything to do with the dilemma that they've created for themselves," he said yesterday.

Southern senators who opposed the automotive industry bail-out | Business | The Guardian
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post #155 of 181 (permalink) Old 12-13-2008, 08:25 AM
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^^^^
Angry UAW members lash out at Southern senators: Financial News - Yahoo! Finance

UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies
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post #156 of 181 (permalink) Old 12-13-2008, 08:49 AM
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I am still waiting for my answer.

How many of you went out and bought one of the Big 3 vehicles in the last 60 days to help them out? If not, why?

I would imagine the reasons for not buying:
- you are waiting for a free new car. That's the only way they can pay us all back
- you are not patriotic/care enough to save the Big 3
- none of their line ups suite your needs or tickle your fancy

So why not ditch your Mercedes and start driving Caddies and Corvettes? I am sure 98% of the members here (please exclude me) are wealthy enough to buy one or two cars without blinking an eye. Or at least that's the impression I have.

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post #157 of 181 (permalink) Old 12-13-2008, 08:52 AM
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Dude, I can't even afford a Yugo in used condition, speak for yourself!
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post #158 of 181 (permalink) Old 12-13-2008, 09:00 AM
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I am still waiting for my answer.

How many of you went out and bought one of the Big 3 vehicles in the last 60 days to help them out? If not, why?

I would imagine the reasons for not buying:
- you are waiting for a free new car. That's the only way they can pay us all back
- you are not patriotic/care enough to save the Big 3
- none of their line ups suite your needs or tickle your fancy

So why not ditch your Mercedes and start driving Caddies and Corvettes? I am sure 98% of the members here (please exclude me) are wealthy enough to buy one or two cars without blinking an eye. Or at least that's the impression I have.

In the last 3 months we have sold the Mercedes and the Ford and bought a new VW and a new Toyota. Screw the Big 3, we will not touch another one...........
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post #159 of 181 (permalink) Old 12-13-2008, 09:27 AM
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I was traveling yesterday and didn't get to catch much of the UAW guy's interview with Blitzer on CNN while standing in line at the airport; but what I did hear sounded like they're going down in flames. He was going off about how Toyota's claim of paying $35/hour might be "anti-union rhetoric", and how he'd like to audit their books, their supplier contracts, etc., etc., etc. It's too infuriating, I can't even get mad about it.
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post #160 of 181 (permalink) Old 12-13-2008, 10:34 AM
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In the last 3 months we have sold the Mercedes and the Ford and bought a new VW and a new Toyota. Screw the Big 3, we will not touch another one...........
Then tell me why the Big 3 bailout? What makes the bailout will stop the inevitable? Why throw one good dollar after a bad one?

What we need is not to bailout the Big 3. We need to mandate all those banks who received any of the Government money to use it to pardon their consumer debts. The homeowners once scott free of their high rate mortgage can and will go out to spend. Meanwhile, all the CEO at those banks go straight to jail, including Hen Paulson.

Big 3 is a dead horse and has been for decades. Let them rot.

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