Feds sucking UAW's balls.

[Claydon]

The US Senate Saturday approved 25 billion dollars in loan guarantees (http://search.breitbart.com/q?s=loan%20guarantees&sid=breitbart.com) for the financially strapped US auto industry, intended to spark a wave of automotive innovation.

The loan guarantees were included in a continuing resolution that included funding for the US government and the wars in Iraq and Afghanistan.
President George W. Bush (http://search.breitbart.com/q?s=President%20George%20W.%20Bush&sid=breitbart.com) has indicated that he intends to sign the bill.
"We're very pleased Congress has chosen to act at this critical time," said Greg Martin, (http://search.breitbart.com/q?s=Greg%20Martin&sid=breitbart.com) director of communications for General Motors Corp's Washington office.
GM had been subject of much speculation that it could be forced into bankruptcy.
The bill, which was approved by the House of Representatives on Wednesday, are the first loan guarantees for US carmakers since Congress approved a similar 675 million dollar measure for Chrysler Corp. in 1980.
Chrysler Chairman Robert Nardelli, however, said this week the loan guarantees should not be considered a rescue package for struggling carmakers. "This is not a bailout," he said.
Under provisions of the new legislation, not only US carmakers are eligible for the guarantees but also suppliers and foreign automakers with plants in the United States that are more than 20 years old -- Nissan and Honda's US operations qualify. Martin said automakers could use the money for projects such as a new engine plant GM has announced it intends to build in Flint, Michigan.


http://www.breitbart.com/article.php?id=080928164938.dtc44u1c&show_article=1&lst=1

This could only happen in an election year. So much for change.

[BIG PIZZLE]

I love how they call them "loan guarantees..." I wish I had loan guarantees. How is the american dollar not worthless yet?

[Claydon]

I love how they call them "loan guarantees..." I wish I had loan guarantees. How is the american dollar not worthless yet?

Because the US respresents 14 trillion GDP. However, give the feds, wall st., and the joe 6 pack a chance. All three are doing their best to completely fuck this country over economically.

[Hanover Fist]

The fact that Honda and Nissan are also eligible for this package makes it pretty interesting. They already have a much better cost structure than the Big 3, this will could make them even more difficult to compete with.

[BIG PIZZLE]

I hope this means better cars but it sounds a bit more like a blank check.

[Hanover Fist]

I hope this means better cars but it sounds a bit more like a blank check.

If it means more work in my plant, that's ok. I need a raise. Of course it might take a while for it to trickle down from the majors to the tier 1 suppliers and then to us.
I only wish Ford was excluded from anything positive, fuck them. They've gone the last 20+ years fucking the suppliers, I could care less if they go out of business. Every other auto company I have dealt with at least works with suppliers and tries to find middle ground with the issues that arise in manufacturing whether its costs, quality, engineering etc.
Fords standard operating procedures involve making each of their suppliers dependent on them to stay in business then squeezing them for every penny they can and finally pulling out all their business when the supplier can no longer afford Fords demands. I've seen it happen exactly like that in 2 places I've worked. No other auto company operates like that.

[BIG PIZZLE]

I have clients like that but they're also the ones that bring the biggest business so it makes it even tougher to deal with them.

[Claydon]

I think this 25 billion should come with the "Dissolve the UAW clause".

probably won't happen