Before President Heads to Racine, the Export-Import Bank

By June 29, 2010Trade

The Business Journal of Milwaukee: “Feingold, NAM also urge Export-Import Bank to rethink Bucyrus decision“:

U.S. Sen. Russ Feingold and the National Association of Manufacturers have joined in urging the U.S. Export-Import Bank to reconsider its decision to deny financing of mining equipment for a coal-fired power plant in India, which has effectively canceled a $600 million equipment order for Bucyrus International Inc.

 Milwauke Journal-Sentinel, Calls mount mount for Export-Import Bank to reverse Bucyrus decision“:

Former Michigan Gov. John Engler has urged the U.S. Export-Import Bank to reverse its recent decision that denied loan guarantees for mining equipment that would be made by Bucyrus International to supplying coal for a power plant in India. 

Engler, now president of the National Association of Manufacturers, said he spoke with Bank Chairman Fred Hochberg. 

AP reports that Bucyrus chief executive Tim Sullivan has spoken with officials at the U.S. Export-Import Bank, who have told him they are having detailed discussions with the White House about it. It’s hard to see how President Obama can travel to Racine, Wisc., Wednesday to talk about the economy and not have this issue resolved.

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