SEARCH
UAW Strongly Backs Auto Loan Package |
|
With Congress poised to consider a $15 billion bipartisan emergency bridge loan for the Big Three automakers, the UAW is strongly urging lawmakers to pass the legislation quickly to save as many as 3.3 million jobs across the economy.
While the U.S. House may act as early as today, a small minority of Republican senators are threatening to filibuster against the bill and stop it from being approved. If lawmakers do not act this week, UAW President Ron Gettelfinger said, one or more automakers will be forced to liquidate operations.
Please call your representative today! Urge her or him to vote for the bipartisan legislation to provide emergency bridge loans to the domestic auto companies. Tell your representative this legislation is essential to prevent the collapse of the companies and the devastating consequences that would follow for millions of workers and retirees, and for the entire economy of our nation.
You can call your representative toll free at 1-877-331-1223. Or you can send her or him an e-mail here.
The legislation includes tough conditions, such as limits on executive compensation, a prohibition on dividends, an equity stake to protect taxpayers and ongoing federal oversight. Says Gettelfinger:
The bipartisan compromise between congressional leaders and the White House provides critical support for Main Street manufacturing and sets in motion a process for restructuring our industry for the future.
We applaud the efforts of everyone on both sides of the aisle who have worked long and hard to develop this emergency legislation. We urge Congress to act without delay to pass this legislation to avoid devastating consequences for the entire U.S. economy.
The proposed bill also requires automakers to develop restructuring plans for long-term viability, which will involve shared sacrifice from all stakeholders, including management, directors, bondholders, shareholders, suppliers, dealers, UAW members and other company employees. Gettelfinger adds:
Investing in America’s manufacturing base makes sense. Otherwise, 3 million jobs are at risk, along with pension and health benefits for more than a million retirees. Thousands of businesses that supply the auto industry would be forced to close, and government at all levels would lose hundreds of billions in tax revenues—far more than the assistance being requested.
1 Comment
Sorry, the comment form is closed at this time.
Our media and government are not telling Americans the rest of the story about Ford and GM.
General Motors Russia - Overview
Russia
Russia is rapidly becoming one of General Motors most important markets.
GM sells Opel, Chevrolet, Saab, Cadillac and HUMMER brands throughout Russia, and in 2007 GM represented 9.56% of the total Russian market.
There are three assembly plants building a mix Cadillac, HUMMER and Chevrolet models in Russia. One is located in Togliatti and is operated by the GM-Avtovaz joint venture, the other is owned and operated by GM’s partner, Avtotor, in Kaliningrad, and the third assembly operation is in St. Petersburg.
At a glance 2006 2007
Employees 103 145
Total registrations 132,600 258,835
Market share 6.6% 9.56%
Production 47,881 55,052
Russia is rapidly becoming one of General Motors most important markets.
Bleeding Billions, GM Opens New Russian Factory
November 10, 2008 by MattK
Filed under: News
Dmitry Medvedev, President of the Russian Federation and Carl-Peter Forster, GM Vice President and President of GM Europe at the opening of GMs flexible new assembly plant in Shushary near St. Petersburg. General Motors invested $300 million in this new plant, where 1,700 employees will eventually assemble up to 70,000 Opel Antaras, Chevrolet Captivas and - as of 2009 - Chevrolet Cruzes annually
Dmitry Medvedev, President of the Russian Federation and Carl-Peter Forster, GM Vice President and President of GM Europe at the opening of GM’s flexible new assembly plant in Shushary near St. Petersburg. General Motors invested $300 million in this new plant, where 1,700 employees will eventually assemble up to 70,000 Opel Antaras, Chevrolet Captivas and - as of 2009 - Chevrolet Cruzes annually.
As U.S. lawmakers wrestle with how best to help the American auto industry, General Motors quietly opened an all new plant in St. Petersburg, Russia last week. The plant, which will help GM bolster its industry leading share of the Russian market — now standing at 11% — represents one of the bright spots for the automaker which has been beset by losses since 2004 totaling tens of billions of dollars.
Though the automaker will probably sell more than three million vehicles in 2008 for its main U.S. market, GM sells another six million vehicles in markets scattered around the world. Russian sales of GM vehicles (Opel and Chevrolet primarily) have nearly doubled for 2008, while stateside sales are down by about 20% for the year.
(Source: General Motors)
SOURCE:GENERAL MOTORS
Add……
Late last year Ford quietly opened a new plant in Brazil. It is Ford’s largest ultra modern assembly plant in the world. Ford has many plants throughout the world. But Ford’s new Brazil plant is the Jewel in The Crown.
Late last year Ford quietly opened a new plant in Brazil. It is Ford’s largest ultra modern assembly plant in the world. Ford has many plants throughout the world. But Ford’s new Brazil plant is the Jewel in The Crown. http://info.detnews.com/video/index.cfm?id=1189
The billions of U.S. tax dollars Ford and GM are begging for will likely pay to build more new foreign factories. It’s clear Ford and GM are in the process of stealing pensions from loyal hard-working employees, breaking contracts, and shipping jobs out of the USA at the expense of American men, women and children. Are these companies patriotic, or are they traitors?
http://docs.google.com/Doc?id=ddj78z5s_89fqk8ttdf