UAW says working to prevent "run" on GM, Chrysler

By David Bailey

DETROIT (Reuters) - United Auto Workers President Ron Gettelfinger on Friday blamed Senate Republicans for the collapse of the auto bailout bill and said the union was ready to do its part to prevent creditors from forcing General Motors Corp or Chrysler LLC into bankruptcy.

"We're going to work tirelessly to make this happen and realize that there's going to have to be restructuring," Gettelfinger told reporters.

Gettelfinger said the key now is to prevent suppliers from stopping shipments to GM or Chrysler or demanding payment in cash up front -- a situation he likened to "a run on the bank."

"We need to satisfy the suppliers that there is going to be a tomorrow," he said.

Without immediate federal help now by the White House through the $700-billion fund for the banking system, GM will not be able to make it out of December, and Chrysler's own dire cash position is similar, he said.

"If we worked for nothing, it wouldn't help them limp into January," Gettelfinger said.

Senate negotiations over a $14 billion package to extend emergency loans to the auto industry broke down late Thursday. That came after the UAW balked at requirements from Senate Republicans that would have forced the union to agree to sweeping concessions on the spot.

"We wondered, quite frankly, if we were just being set up," Gettelfinger said.

The UAW has been a stalwart ally of the Democratic party and worked hard for the election of President-elect Barack Obama.

Gettelfinger said some Republicans, particularly from southern states like Alabama, saw the bailout negotiations as a way to cripple the union while aiding the Japanese, South Korean and German automakers that have located plants and supply operations in their home districts.

"They thought perhaps they could have a twofer here maybe -- pierce the heart of organized labor while representing the foreign brands," he said....More

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Sen. Richard Shelby Is Protecting Foreign Automakers, Gives Huge Tax Breaks!

Senator Richard Shelby has been attacking the America Auto Industry and Trying to Stop the Bridge Loan. He has great reason to cripple the America Auto-industry, he has all the foreign automakers in his home state of Alabama. Like Mercedes-Benz, Toyota, Honda, and Hyundai Motors!

Here are your American Tax Dollars at work, Undermining America!

In 1997, the state of Alabama granted huge subsidies to Mercedes in exchange for a plant that would employ 1,500 people. What were the details of this huge incentive package? $300 million in tax breaks, $253 million in direct incentives, $60 million in Alabama taxpayer money to send fellow Alabamans to Germany for training, and a promise to buy 2,500 of the new Mercedes SUV’s at $30,000 each. Based on just the initial $300 million grant alone, those 1,500 jobs will cost Alabama taxpayers $200,000 per job. Apparently Alabama, not Mercedes, will be paying those salaries for years to come. With deals like these, it’s no wonder foreign automakers have stepped up production in the U.S. We’ll even pay their workers’ salaries for them!

All using your tax dollars! Nice Job Senator Shelby, he has help facilitate similar deals for Toyota, Honda, and Hyundai Motors!

Billions of US Tax Payer Money to foreign companies!

Remember just because a vehicle is assembled in America it doesn't mean they are using American made parts, 80% are from foreign supplies and 90% of the profits are shipped back to a foreign country!

A dollar spent in the United States is said to circulate around the economy 7 times!

So all those billions of dollars you have given to foreign companies are not circulating in the American economy, it is in Japan and Germany!

So if you are struggling to make it and you are driving a foreign car, you might be part of the problem! You certainly aren't helping make higher paying jobs driving foreign cars.

Undermining America!

Thank You Senator Shelby For Helping Foreign Countries Destroy the Middle Class in America!

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