The prepared testimony from today’s House Financial Services Committee hearing, “Stabilizing the Financial Condition of the American Automobile Industry.”
Panel 2
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Mr. G. Richard Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation
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Mr. Robert Nardelli, Chief Executive Officer, Chrysler, LLC.
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Mr. Alan Mulally, President and Chief Executive Officer, Ford Motor Company
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Mr. Ron Gettelfinger, President, United Auto Workers
Panel 3
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Mrs. Annette Sykora, Chairman, National Automobile Dealers Association
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Mr. James S. McElya, Chairman and Chief Executive Officer, Cooper-Standard Automotive, Inc.
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Professor Jeffrey D. Sachs, Director, The Earth Institute; Quetelet Professor of Sustainable Development and Professor of Health Policy and Management, Columbia University
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Dr. Matthew J. Slaughter, Professor of International Economics, Tuck School of Business, Dartmouth College
And relevant coverage..
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Big Three press bailout case for second day
MarketWatch - 54 minutes ago
If the domestic auto industry were allowed to fail, Wagoner said, “the societal costs would be catastrophic.” Congress is in a lame-duck session in part to … -
Democrats seek to lower expectations for bailout
The Associated Press - 1 hour ago
CEO Rick Wagoner told the House Financial Services Committee that collapse of the US auto industry could lead to a loss of 3 million jobs within the first … -
Jockeying Continues Over Aid to US Auto Industry
CQPolitics.com, DC - 1 hour ago
By Joseph J. Schatz and David Clarke, CQ Staff The Senate’s top Democrat Wednesday sought to shift the burden of helping the auto industry onto the White … -
Senate seeks compromise on auto bailout as CEOs testify for a 2nd day
USA Today - 1 hour ago
“There is a way forward that will help protect the jobs in the auto industry, while also protecting taxpayers,” McConnell, a Kentucky Republican, said. ..
The latter refers to a statement made by Minority Leader McConnell, “A Bipartisan Path Forward to Protect Jobs, Taxpayers“:
So let me suggest a bipartisan path forward that has not yet been offered by the majority. It’s a compromise being worked on by Senators Voinovich and Bond which repurposes funds already appropriated by this Congress to fund a $25 billion loan program for automakers to build advanced technology vehicles—coupled with new taxpayer protections and federal oversight of how the money is spent. This is a proposal which I believe has support from both sides of the aisle, and that actually has the potential to pass right now—not next year.
