Senate Abandons Auto Bailout Bid - NYTimes.com,Quick to support wall street short on helping workersPosted: 12/12/2008 by Floyd in Labels: Politics, Senate
I added a little more to the head line as to what it should read, as I surf along the Internet I am greeted by some who think the UAW well it has just done to much for it's workers and even some article's comparing the workers salary to corporate salary, people this is all smoke and mirror's and is simply put a bunch of hog wash.
Let me continue a little further and I will give you an excerpt of this article, basically the plan was voted down and to further elaborate this is monies already allocated for re-tooling and a small diff was made up as far as I can tell for a loan to be paid back. If or when this industry collapses it is not going to be pretty and all funky dare as you have heard there are hundreds of thousands of jobs tied to the auto industry and most employing anywhere from 100 to 200 people, I am talking about the regular grunts now, I worked myself close to 21 years with a company tied to GM so I know what I'm talking here.
How many of these companies are going to go bankrupt? How many of these are going to survive this? It is a good question, the Republicans see for their part a way to try and break the UAW and they don't care how many folks they have to starve to do it.
Let's look at reality the only reason Toyota is paying it's workers a decent wage is because of the UAW, take the UAW out of the equation and see if that bubble goes down a little then.
“The consequences of the Senate Republican’ failure to act could be devastating to our economy, detrimental to workers, and destructive to the American automobile industry unless the President immediately directs Secretary Paulson to explore other short-term financial assistance options. Senator George V. Voinovich, Republican of Ohio, and a supporter of the auto rescue efforts, said: “I think it might be time for the president to step in.”