Democrats, Republicans Reach Tentative Compromise on Auto Plan

[Rusty]

Dec. 11 (Bloomberg) — Democratic and Republican negotiators have a tentative compromise on a $14 billion automaker bailout plan that may be voted on tonight, Majority Leader Harry Reid said.

Negotiators are briefing their colleagues on the substance of the tentative accord, Reid said.

“I’m hopeful that we can finish this matter tonight,” Reid said on that chamber’s floor. “We should know soon” whether the agreement has enough support, he said.

Connecticut Democrat Christopher Dodd and Tennessee Republican Bob Corker negotiated the accord.

GM and Chrysler are in a race against the clock as they need federal aid to keep from running out of cash early next year. Pressure is mounting on GM as a small number of partsmakers ask for payments in advance, people familiar with the matter said.

Ford Motor Co. lobbyist Ziad S. Ojakli and GM lobbyist Ken Cole entered the meeting room without commenting. Stephen Feinberg, the founder of Cerberus Capital Management LP, owner of Chrysler, and Illinois Democrat Dick Durbin were also in attendance.

Earlier, Reid said that if an agreement is reached, “then the bill will overwhelmingly pass the Senate.”

Rest of the article...

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A bipartisan compromise - let's see how it rolls.

[Roogle]

Posted via Mobile Device

I say screw the auto industry if they dont use the money to keep US plants open longer...

[Chase]

thought this was funnt, no offense intended.,.

[Kid Lester]

Quick question:

Is anybody going to buy a Big 3 car, but is just waiting for that bailout to go through first?

Just thought I'd ask. I didn't realize the reason their products aren't selling is because they didn't have enough money.

Once they get the $billions$...I guess that's when people will start buying American again and our manufacturing base will be saved.

[Rusty]

Quick question:

Is anybody going to buy a Big 3 car, but is just waiting for that bailout to go through first?

Just thought I'd ask. I didn't realize the reason their products aren't selling is because they didn't have enough money.

Once they get the $billions$...I guess that's when people will start buying American again and our manufacturing base will be saved.

Sounds *a little* suspect doesn't it? I'd only buy a big 3 car if it fits my needs and is economical. I've had Toyotas since 1995 because they do just that.

[paulusa302]

The big 3 can sell cars if they made them look like something people will want!

Right now they all look like non-descript crap on wheels.

[Kid Lester]

Sounds *a little* suspect doesn't it? I'd only buy a big 3 car if it fits my needs and is economical. I've had Toyotas since 1995 because they do just that.

The average employee at an American Toyota factory makes the same per hour as a UAW member when you factor in benefits and everything.

Why is it that Toyota can come over here and kick our ass like this?

Can kick our ass right out of BUSINESS?

The UAW is NOT the reason WE cannot produce the autos that WE want to buy.

It's failed vision and failed planning.

It's the mindset that says it's smarter to spend billions on lobbying efforts to kill CAFE standards, instead of just making a more fuel efficient vehicle.

Take all that lobbying money they spent trying to kill gas mileage standards, and put it into making a fuel efficient car that could compete with the imports...and you wouldn't need a friggin' bailout today.

[paulusa302]

Did you see the new models of Mitsubishi & Toyota cars out? The are HOT!

Ford messed up the Mustang!

When I was young I loved Dodge but now I see them and they are overpriced and bad on gas.

I had a few GMC cars and had nothing but problems! (Still remember my 1976 Pontiac Sunbird... I loved that lemon!)

I had a Honda I put 200,000 miles on and only had to replace the water-pump when it hit 150,000 miles. (I loved that prelude!).

I had a Nissan 200sx that I put 150,000 miles on and only had to replace a fan belt! (I loved that car!).

I think most Americans are waiting for the American Auto industry to make the cars we want to buy and stop making the cars THEY WANT us to buy.

[Rusty]

The UAW is NOT the reason WE cannot produce the autos that WE want to buy.

It's failed vision and failed planning.

It's the mindset that says it's smarter to spend billions on lobbying efforts to kill CAFE standards, instead of just making a more fuel efficient vehicle.

Take all that lobbying money they spent trying to kill gas mileage standards, and put it into making a fuel efficient car that could compete with the imports...and you wouldn't need a friggin' bailout today.

Well said and I agree. The lack of planning for the future strikes me especially. When gas went to $3/gallon, I knew to start cutting back on impulsive traveling. Like it or not, a cleaner environment is where the future is going. It was crazy to keep doing the same things while expecting the same outcome - good fortune is always cyclical. Somehow a huge segment of our society missed the clear warning signs.

[Kid Lester]

I hear ya, Rusty.

Just want to add...I'm not saying the UAW is not A problem. I'm saying they're not THE problem. Certainly money could be saved by getting the UAW more into line with what non-union private enterprise pays. Particularly in the benefits areas.

But to blame the "greedy American worker" as the real culprit here is missing the boat, I think.

[Rusty]

I hear ya, Rusty.

Just want to add...I'm not saying the UAW is not A problem. I'm saying they're not THE problem. Certainly money could be saved by getting the UAW more into line with what non-union private enterprise pays. Particularly in the benefits areas.

But to blame the "greedy American worker" as the real culprit here is missing the boat, I think.

I so agree with you about that. American workers can only accomplish what the hierarchy allows them to do. I've never met a worker who really wanted to strike - they all wanted to work. The greed lies at the top. Even the UAW is trying to make sacrifices now. They started as a good, protective idea that somehow eroded into seeing what they could get. Everything automotive needs to be re-invented in this country. Maybe it will be now.

[BillW]

[QUOTE=Chase;155296]thought this was funnt, no offense intended.,.


None taken, but I do think Ford has opted out - at least time.

[Roogle]

I have dodge caravan now, and it sucks on gas. I only drive about 50 miles a week. But i still need to get gas every weekend. Most of my time in the car consists of city driving.

I think a hybrid will be my next car. Just because it's all electric during city drives. A lady i work with drives a Prius. She does mostly city driving. And she told me she only has to fill up twice a month. I'm not sure how much she drives though...

[Decent]

The big 3 can sell cars if they made them look like something people will want!

Right now they all look like non-descript crap on wheels.

BINGO!!! Ding ding ding, We HAVE a winner! Hardly any features that discern one from the other anymore!