Republican Recession/Depression Roulette: Olbermann: Why Republicans killed the auto industry bailout

Republican Recession/Depression Roulette: Olbermann: Why Republicans killed the auto industry bailout

The Congress Of These United States Ought To Have Its Collective Ass Hauled Into Court And Be Prosecuted For Misfeasance, Nonfeasance, and yes, “Malfeasance” and for the Premeditated persistent and willful derogation/violation of their Oath Of Office.

Collectively, they are a motley gang of incompetent fools, stupid to the core they are prepared to screw anyone but themselves. How about Congress taking a pay cut to a $1.00 a year and surrendering their cushy health care plan. Now there is a savings and a value oriented pay scale.

When in the Hell did it become a detriment for the American worker to earn a good wage. The damned Executives sure do!

Have you ever noticed that whenever anything goes wrong in this country it is “we the people” who are supposed to compliantly “sacrifice” to bailout out corporate excess, greed and screw up. The is near for change, but that change is not another step in the direction of the destruction of yet another segment of the populous having its united/union voice Corporate-Congressional-Castrated.

If we want to give away some more of our tax dollars to Detroit; I am fine with that if we demand that that the industry R&D and retool to put a true “Unplugged, Fuel Less, No Emission, Self-Recharging Green Electric Automobile” on the road no later than 2010.

Now that’s change; the CORRECT change!

Three Little Words: Fuck You UAW!

Olbermann: Why Republicans killed the auto industry bailout

Tennessee's Corker on failed auto plan

Senate Blocks Auto Bailout

The 25 Most Corrupt Leaders Of Americans

WASHINGTON - A $14 billion emergency bailout for US automakers collapsed in the Senate last night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

The collapse came after bipartisan talks on the auto rescue broke down over GOP demands that the United Auto Workers 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 Senator 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.

Majority Leader Harry Reid said he hoped President Bush would tap the $700 billion Wall Street bailout fund for emergency aid to the automakers. General Motors Corp. and Chrysler LLC have said they could be weeks from collapse.Ford Motor Co. says it does not need federal help now, but its survival is far from certain.

Reid called the bill's collapse "a loss for the country," adding: "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."

GM said in a statement it was "deeply disappointed" that the bipartisan agreement faltered. "We will assess all of our options to continue our restructuring and to obtain the means to weather the current economic crisis," the company said.

The White House said it was evaluating its options in light of the breakdown.

"It's disappointing that Congress failed to act tonight," a White House statement said. "We think the legislation we negotiated provided an opportunity to use funds already appropriated for automakers and presented the best chance to avoid a disorderly bankruptcy while ensuring taxpayer funds only go to firms whose stakeholders were prepared to make difficult decisions to become viable."

The Senate rejected the bailout 52-35 on a procedural vote - well short of the 60 required - after the talks fell apart. Both Democratic senators from Massachusetts, Edward Kennedy and John Kerry, did not vote.

The implosion followed an unprecedented marathon negotiations at the Capitol among labor, the auto industry and lawmakers who bargained into the night in efforts to salvage the auto bailout at a time of soaring job losses and widespread economic turmoil.

The group came close to agreement, but it stalled over the UAW's refusal to agree to wage cuts before their current contract expires in 2011. Republicans, in turn, balked at giving the automakers federal aid.

"In the midst of already deep and troubling economic times, we are about to add to that by walking away," said Senator Chris Dodd, Democrat of Connecticut, the Banking Committee chairman who led talks on the deal.

Alan Reuther, the UAW's legislative director, declined comment to reporters as he left a meeting room during the negotiations. Messages were left with Reuther and UAW spokesman Roger Kerson.

Aid for the automakers gained urgency last week when the government reported the economy had lost more than a half-million jobs in November, the most in any month for more than 30 years.

The stunning disintegration was eerily reminiscent of the defeat of the $700 billion Wall Street bailout in the House, which sent the Dow tumbling and lawmakers back to the drawing board to draft a new agreement to rescue financial institutions and halt a broader economic meltdown. That measure ultimately passed and was signed by Bush.

It wasn't immediately clear, however, how the auto aid measure might be resurrected in a bailout-fatigued postelection Congress, with Bush's influence at a low ebb.

Democratic House Speaker Nancy Pelosi called Senate Republicans' refusal to support the White House-negotiated bill irresponsible and also urged the Bush administration and the Federal Reserve to provide short-term relief for the automakers. "That is the only viable option available at this time," she said.

Congressional Republicans were already in revolt against Bush over an auto bailout deal the White House negotiated with congressional Democrats, passed by the House on Wednesday.

The developments unfolded after Senate Republican leader Mitch McConnell of Kentucky joined other GOP lawmakers in announcing his opposition to the White House-backed rescue bill.

He and other Republicans said wages and benefits for employees of the Big Three should be renegotiated to bring them in line with those paid by Japanese carmakers Toyota, Honda, and Nissan in the United States. (BULLSHIT!)

Hourly wages for UAW workers at GM factories are about equal to those paid by Toyota Motor Corp. at its older US factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota says it pays about $30 per hour. But the unionized factories have far higher benefit costs.

The American Economy Customized By Congressional Crash Over Cash And Unionism

Customized By Crash:  The American Economy…As The  $14 Billion Auto Bailout Plan Collapses In Senate I Think It Is About Time That America Get Its Collective Head On Straight And Demand That Detroit Executives Be Replaced, That A Bailout Be Conditioned On Retooling And The Production Of A Fuel Less, Emission Free, Unplugged Full Fledged Green American Car Ond Not Conditioned Upon Breaking The UAW.  

I Am Prepared To Support The UAW And Teamsters In The Streets Of Detroit If That Is What It Is Going To Take To Wake Up This Nation And Kick Congressional Asses Into Constructive Bipartisan Meaningful Address Of The Problem.

 

The time to stop Bitching about the past is now and the time to fashion the future is at hand before we surrender the American Automotive Industry to Japan, China, India and German On our way down the toilet of The Second Great Depression!

 

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

 

Senate Majority Leader Harry Reid said he was ``terribly disappointed'' about the demise of an emerging bipartisan deal to rescue Detroit's Big Three.

 

He spoke shortly after Republicans left a closed-door meeting where they balked at giving the automakers federal aid unless their powerful union agreed to slash wages next year to bring them into line with those of Japanese carmakers.

 

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts - but not until 2011.

 

Republican and Democratic senators had struggled into the night Thursday to resolve what was described as one remaining major dispute blocking an emergency $14 billion bailout for U.S. automakers.

 

The details of the emerging agreement weren't immediately known.

 

But Republican senators huddled with their chief negotiator on the progress made in wringing new concessions from the companies and their union, the United Auto Workers, and Reid had held out hopes for a vote later in the night.

 

The talks centered on wage and benefit concessions from the UAW as well as debt-restructuring by General Motors Corp., Ford Motor Co. and Chrysler LLC, and officials from the union and companies were participating in the talks at one point or another.

 

Republican senators revolted against a $14 billion rescue the Bush White House negotiated with congressional Democrats and the House passed on Wednesday.

 

Leaders stressed that the deal wasn't final.

 

"All issues are still on the table," said Sen. Dick Durbin of Illinois, the No. 2 Democrat, as he emerged from the talks.

 

But it was clear lawmakers had made substantial progress toward getting the auto industry aid back on track, and members of both parties were in search of an accord.

 

"We've got some issues still to resolve but we all want to resolve them," said Sen. Bob Corker, R-Tenn., who led the closed-door talks for his party.

 

Sen. Chris Dodd, D-Conn., the Banking Committee chairman, who was his party's point man, said staff aides were working on legislative language of a still-emerging deal.

 

"While we've reached some agreement on a lot already, there are issues that are still outstanding," Dodd said.

 

Progress in the negotiations were the latest development in a long-running debate over bailing out the beleaguered auto industry. The issue gained urgency last week when the government reported the economy had lost more than a half-million jobs in November, the most in any month for more than 30 years.

 

"There's a lot of hardship out there. People are losing their jobs, losing their homes, losing their cars and losing their patience," said Reid. "We don't need to pile on."

 

It was unclear how far the participants were willing to go to seal the federal aid that General Motors and Chrysler said was essential to keep them from bankruptcy. Ford is in better financial shape than its rivals, although its survival is not assured, either.

 

The developments unfolded after Senate Republican leader Mitch McConnell of Kentucky joined other GOP lawmakers in announcing his opposition to the White House-backed rescue bill passed by the House on Wednesday.

 

He and other Republicans said wages and benefits for employees of Detroit's Big Three should be renegotiated to bring them in line with those paid by Japanese carmakers Toyota, Honda and Nissan in the United States.

 

Hourly wages for UAW workers at GM factories are about equal to those paid by Toyota Motor Corp. at its older U.S. factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota says it pays about $30 per hour. But the unionized factories have far higher benefit costs.

 

GM says its total hourly labor costs are now $69, including wages, pensions and health care for active workers, plus the pension and health care costs of more than 432,000 retirees and spouses. Toyota says its total costs are around $48. The Japanese automaker has far fewer retirees and its pension and health care benefits are not as rich as those paid to UAW workers.

 

Republicans also bitterly opposed tougher environmental rules carmakers would have to meet as part of the House-passed version of the rescue package and the Senate dropped it from its package.

 

The negotiations marked the latest development in a long-running debate over bailing out the beleaguered auto industry. The issue gained urgency last week when the government reported the economy had lost more than a half-million jobs in November, the most in any month for more than 30 years.

 

The White House monitored the talks but was not directly participating. Administration officials had been deeply involved in recent days in drafting a compromise with House and Senate Democrats — the measure that McConnell and other Senate Republicans promptly repudiated.

 

Some Senate Democrats joined Republicans in turning against the House-passed bill — despite increasingly urgent expressions of support from the White House and President-elect Barack Obama for quick action to spare the economy the added pain of a potential automaker collapse.

 

The White House said President George W. Bush was calling Republican lawmakers, while Obama told reporters at a news conference in Chicago an industry shutdown would have a "devastating ripple effect" on the already ragged economy."

 

The House-passed bill would create a Bush-appointed overseer to dole out the money. At the same time, carmakers would be compelled to return the aid if the "car czar" decided the carmakers hadn't done enough to restructure by spring.

 

McConnell said that measure "isn't nearly tough enough."

 

Pushing to convert skeptics in both parties, Democrats agreed to drop at least one unrelated provision that threatened to sink the measure, a congressional official said. They were eliminating a pay raise for federal judges after Democratic Sen. Claire McCaskill of Missouri, who represents an automobile manufacturing state, announced she would oppose the carmaker aid unless that provision was removed.

 

Supporters had an uphill battle pressing the rescue package on a bailout-fatigued Congress — particularly a measure designed to span the administrations of a lame-duck president and his successor. Before the late-day negotiations, patience had begun wearing thin at the Capitol as lawmakers looked ahead to adjourning for the holidays.

 

Reid at one point called for swift separate votes Thursday on compromise legislation backed by Democrats and the White House as well as the GOP proposal. "We have danced this tune long enough," he declared.

 

But with Republicans staunchly opposed to the rescue and some Democrats ill or absent from the emergency, postelection congressional session, bailout supporters acknowledged that getting the needed 60 votes to pass either would be very difficult.

 

The House approved its plan late Wednesday on a vote of 237-170. Supporters cited dire warnings from GM and Chrysler executives, who have said they could run out of cash within weeks.

 

A pair of polls released Thursday indicated that the public is dubious about the rescue plan.

 

Just 39 percent said it would be right to spend billions in loans to keep GM, Ford and Chrysler in business, according to a poll by the nonpartisan Pew Research Center. Just 45 percent of Democrats and 31 percent of Republicans supported the idea.

 

In a separate Marist College poll, 48 percent said they oppose federal loans for the struggling automakers while 41 percent approved.