In the flood of post-elections coverage, the National Association of Manufacturers and our president and CEO John Engler were asked to comment on a variety of issues, and high on the list were the economic stimulus legislation and the troubles of the auto industry. A sample…
Detroit News, “Automakers optimistic help may be on the way“:
The dire situation facing the automakers will become even clearer on Friday, when GM and Ford Motor Co. are expected to report substantial third-quarter losses and announce new cuts to curtail losses. The companies collectively lost $24 billion in the second quarter.
“At this point they are looking forward to a future that’s a pretty grim one,” said John Engler, president of the National Association of Manufacturers, adding that policymakers have to act fast. “Nature is going to take its course before (Obama) even takes office in January.”
President-elect Barack Obama courted U.S. automakers and pledged help, but the industry’s health is deteriorating so rapidly it may not be able to wait for him to take office.
‘He’s not here until January (20th) and that’s a long time in the life of these companies at the moment,’ John Engler, a former Michigan governor and president and chief executive of the National Association of Manufacturers, said.
CityNews.ca, a Toronto news site, “Auto Makers Want $25 Billion No-Strings Attached Loans To Avoid Up To A Million Layoffs”
GM and Chrysler are both talking merger. And talk about Hobson’s choice. It’s estimated a joining between the two could cost 24,000-35,000 jobs, close half of the latter company’s 14 manufacturing plants and shed another 50,000 jobs amongst suppliers.
And that’s the best case scenario, because if Chrysler goes out of business, up to a million positions could disappear.
“It’s not just the three auto companies, it’s suppliers, all the way down the chain,” worries John Engler of the National Association of Manufacturers.
Latest posts by Carter Wood (see all)
- Farewell from a Blogger - May 25, 2011
- Activist Ignore Evidence to Back Shakedown Suit Against Chevron - May 25, 2011
- More than a Lawsuit: A Circle of Political Pressure Against Chevron - May 25, 2011