Do they deserve it? If we deny them the $25 billion loan they seek, will we be cutting off our nose to spite our face?
Autoworker chief pleads for government aidWASHINGTON (AP) -- The head of the United Auto Workers made a public plea Sunday for government help for U.S. carmakers as the Big Three put the final touches on stabilization plans to submit to Congress.
"We cannot afford to see these companies fail," said Ron Gettelfinger, the UAW chief, calling on Congress to approve the aid during a special session the week of Dec. 8.
Gettelfinger said a $25 billion rescue plan for the carmakers is "not a bailout, this is a loan -- a bridge loan -- that will get us through until we can take a longer-term look at exactly what needs to be done in the industry."
Democratic leaders are demanding blueprints from Chrysler LLC, Ford Motor Co. and General Motors Corp. before they will schedule votes on any new federal aid. The plans, due Tuesday, are to be scrutinized at a Senate hearing Wednesday and a House hearing on Friday.
If lawmakers like what they see, Congress may reconvene the following week to consider the auto bailout.
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