Auto industry bailout plan dies in the Senate

Collapse comes after bipartisan talks break down over union wage cuts

WASHINGTON – A $14-billion emergency bailout for U.S. automakers collapsed in the Senate after the United Auto Workers union refused to accede to Republican demands for swift wage cuts.

The collapse late Thursday came after bipartisan talks on the auto rescue broke down over Republican demands that the union agree to steep wage cuts by 2009 to bring their pay into line with Japanese carmakers.

“We were about three words away from a deal,” said Sen. Bob Corker of Tennessee, the GOP’s point man in the negotiations, referring to any date in 2009 on which the UAW would accept wage cuts.

http://www.msnbc.msn.com/id/28166218

One Response

  1. Before I would approve of any auto company bail-out, I would like to see a plan for the auto company dealerships to start treating customers like human beings, not like sheep waiting to be fleeced (i.e., deceptive sales practices, hidden rebates, add-ons, etc.).

    Customers should not have to go into a dealership armed with a “Consumer Reports Auto Buyers Guide” to protect themselves from the dealer’s practices in order to buy a new or used car!
    Thank you

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