Wednesday Poll Question: Big 3 Automakers Plead For Bailout

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Wednesday Poll Question: Big 3 Automakers Plead For Bailout

Dan Garcia

Story Created: Nov 18, 2008 at 8:13 PM CST

Story Updated: Nov 18, 2008 at 8:13 PM CST

WASHINGTON (AP) - Detroit's Big Three automakers are warning lawmakers that if they let the industry collapse, the already teetering economy will face catastrophe.

They say without $25 billion in loans, millions of people will lose their jobs as their demise ripples across the economy. Chrysler chief Robert Nardelli told the Senate Banking Committee that a bailout would be "the least costly alternative" when compared with the damage from bankruptcy.

Ford's Alan Mulally told the senators the auto industry is "a pillar" of the economy and that his company is well on its way to "building a new Ford."

GM's Rick Wagoner said the problems in the industry are not the fault of management but the deepening global financial crisis. He said the industry needs "a bridge to span the financial chasm."

The new rescue plan appears stalled. The Bush administration and Republicans in Congress don't want to dip into the Treasury Department's $700 billion financial bailout program.

Tuesday, Nov 18 at 11:34 PM Karen Belvin wrote ...

wouldn't it be possible to post the results of the poll questions on this site? Perhaps for the whole week.. If they are there there, I can't find them! .. Thanks

Wednesday, Nov 19 at 9:27 AM Mike Williams wrote ...

I hope that congress doesnt give the automakers any money. They should suffer just like everybody else is.

Thursday, Nov 20 at 7:56 AM arthur wrote ...

I say NO to big-3 auto bailout. They have a failed business plan and have no intention to give up their perks. Shoud do bankrupcy. They can only offer veiled threats about job loss and economic turmoil.

Friday, Dec 5 at 12:05 PM Adam wrote ...

No - We should not bail out fialing companies, that have had their chance. Hopfully the UAW will disolve.

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