General Motors chairman Richard Wagoner, United Auto Workers president Ron Gettelfinger, Ford president Alan Mulally and Chrysler chairman Robert
The proposed bail-out package for the top three autos manufacturers has been rejected in the US Senate 52-35 on a procedural vote. The bill required at least 60 votes for approval. With the demise of the rescue bill, the automakers are now looking at White House for immediate help through the $700bn fund for Wall Street Banks. Ford has announced that it does not need immediate funds for its survival and that it can manage on its own but I think that Ford would also suffer if the other two leading manufacturers, General Motors and Chrysler LLC collapse.
In my opinion the public money must not be used indiscriminately for rescuing private companies. So far we are not seeing any serious effort from any quarter for protecting the interest of common people. We are always hearing about rescue plan for big banks and companies.
General Motors chairman Richard Wagoner, United Auto Workers president Ron Gettelfinger, Ford president Alan Mulally and Chrysler chairman Robert
The proposed bail-out package for the top three autos manufacturers has been rejected in the US Senate 52-35 on a procedural vote. The bill required at least 60 votes for approval. With the demise of the rescue bill, the automakers are now looking at White House for immediate help through the $700bn fund for Wall Street Banks. Ford has announced that it does not need immediate funds for its survival and that it can manage on its own but I think that Ford would also suffer if the other two leading manufacturers, General Motors and Chrysler LLC collapse.
In my opinion the public money must not be used indiscriminately for rescuing private companies. So far we are not seeing any serious effort from any quarter for protecting the interest of common people. We are always hearing about rescue plan for big banks and companies.
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