Tag Archives: Detroit
WASHINGTON — 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.
Assuming this account is true, if our economy implodes because the good folks at the UAW are willing to accept cuts, but just not until two years from now, instead of right now, I don’t know what I will do with myself.
In two years . . . half of you may have no job to speak of, let alone take a pay cut.