Senate Hearing On US Auto Bailout Signals New Attacks On Workers
By Jerry White
19 November, 2008
WSWS.org
Tuesday's Senate Banking Committee hearing on a $25 billion government bailout of the US auto industry underscored the reactionary framework of the official debate on the crisis of the Big Three auto companies. At the center of the dispute between those senators who support an emergency loan and those who oppose it is how best to impose the burden of the crisis on the backs of auto workers and the working class as a whole.
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Showing posts with label desperation. Show all posts
Showing posts with label desperation. Show all posts
Wednesday, November 19, 2008
Wednesday, September 17, 2008
How the U.S. Auto Industry Wrecked Itself
By RALPH NADER
The Big Three are in big trouble, and they have themselves to thank for it.
Ford and General Motors have reported substantial losses in the second quarter amounting to $15.5 billion, and $8.7 billion, respectively, while Chrysler, which was bought off last year by a private equity firm, Cerberus, refuses to reveal its financial standing.
It is no wonder why their lobbyists were spotted schmoozing with members of Congress at the Democratic and Republican National Conventions, liquoring up in their plush suites and private parties while they made their case for direct government loans which, if approved, would likely add to our federal deficit.
Last December, Congress approved a $25 billion loan to automakers and their suppliers under the Energy Independence and Security Act, though it has yet to be funded. That bill includes a modest requirement for automakers to increase their average vehicle fuel efficiency to 35 mpg -- a benchmark we should have set decades ago, and would allow the companies to have their way with virtually no oversight or accountability.
This corporate Congress cannot be expected to issue serious demands, set tough conditions, or impose strict rules on the auto companies to ensure their workers receive fair pay and benefits, and prevent their fat-cat executives from making off big while leaving their companies in shambles.
more
The Big Three are in big trouble, and they have themselves to thank for it.
Ford and General Motors have reported substantial losses in the second quarter amounting to $15.5 billion, and $8.7 billion, respectively, while Chrysler, which was bought off last year by a private equity firm, Cerberus, refuses to reveal its financial standing.
It is no wonder why their lobbyists were spotted schmoozing with members of Congress at the Democratic and Republican National Conventions, liquoring up in their plush suites and private parties while they made their case for direct government loans which, if approved, would likely add to our federal deficit.
Last December, Congress approved a $25 billion loan to automakers and their suppliers under the Energy Independence and Security Act, though it has yet to be funded. That bill includes a modest requirement for automakers to increase their average vehicle fuel efficiency to 35 mpg -- a benchmark we should have set decades ago, and would allow the companies to have their way with virtually no oversight or accountability.
This corporate Congress cannot be expected to issue serious demands, set tough conditions, or impose strict rules on the auto companies to ensure their workers receive fair pay and benefits, and prevent their fat-cat executives from making off big while leaving their companies in shambles.
more
Wednesday, July 2, 2008
Desperate Times Call for...
The reek of desperation among the automobile manufacturers is palpable. "Free" financing has been a staple of auto enticemnents for years, now dealers are promising "free" gas, or some convoluted scheme to guarantee future gas price for increasingly desperate customers.
I wonder if the future of the oil/car pushers will be modeled upon a one-time fantasy of the computer industry. It was once opined that the price of computer hardware will fall towards zero and the profits for suppliers will be realized through the sale of software. This has been a pipe-dream of the computer industry, as it's seen now that almost the opposite is true. The price of Macs keeps going up, yet a company like Google can provide a number of useful applications for free.
Will we soon see advertisements offering a free car with the purchase of gasoline?
It wouldn't surprise me, as nothing does anymore.
I wonder if the future of the oil/car pushers will be modeled upon a one-time fantasy of the computer industry. It was once opined that the price of computer hardware will fall towards zero and the profits for suppliers will be realized through the sale of software. This has been a pipe-dream of the computer industry, as it's seen now that almost the opposite is true. The price of Macs keeps going up, yet a company like Google can provide a number of useful applications for free.
Will we soon see advertisements offering a free car with the purchase of gasoline?
It wouldn't surprise me, as nothing does anymore.
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