'The Engine of Democracy' Coalition to Send Workers From 50 States to Washington to Support Auto Bridge Loans

[Bruce Nunnally]

Last update: 2:50 p.m. EST Nov. 26, 2008

WASHINGTON, Nov 26, 2008 /PRNewswire-USNewswire via COMTEX/ -- The Engine Of Democracy, a coalition of organizations representing more than 6 million jobs related to the American automotive industry, today announced plans to send representatives from all 50 states and the District of Columbia to Washington, D.C., to show support for $25 billion in federal loans to General Motors Corp., Ford Motor Co. and Chrysler LLC.

Spearheaded by suppliers and dealers in all states, this effort shows the massive, nationwide support for the federal loans the automakers need to help ensure the national security of the United States, the continuation of a robust automotive manufacturing base and the economic well-being of the nation and its citizens.

[more]

[dmsfresh]

screw gm if they will take all of our money and lay off 30,ooo workers and close 1,800 dealers which will probaly mean another 30,000 workers screw em

[JohnnyG]

I somehow knew that the subject of the current state of the economy would show up on this forum. I cannot take any credit for the following quote, but thought some here would find it interesting.

"Back around 1997 I sat in an economic conference where a high level US gov economic official, an aged wise economist, in a moment of unguarded honesty, said:

“I deeply fear our entire monetary, budgetary, foreign trade and financing architecture is awfully dangerous. We are using our reserve-status currency power to create massive free-lunches by feeding off the world’s savings, then leveraging that savings to insane proportions. We will have a decade of undreamed but unearned riches. Bubbles after bubbles. Then one day we will find we are screwing ourselves. There will be one too many bubbles. Because what’s unsustainable simply won’t. But our entire society is into it, and nobody can stop it. So it will have to stop itself. I fear our high economic power might be finished along with it.”

That was a decade ago. When those in-the-know already knew. What they cannot know was the trigger. That trigger, turned out, was not economic. It was mass insanity caused by runaway greed."

We'll need to get through this together.

[OynxSTS]

Bailout bill just failed in the Senate... Dems voted for GOP voted to kill GM...

Ball is now with the Pres and Paulson to see if they will save GM... If no help comes GM will die before end of year.

[JohnnyG]

Ball is now with the Pres and Paulson to see if they will save GM... If no help comes GM will die before end of year.

Well, maybe not REALLY die, just restructure.

Did you ever stop to think about how many car lines Toyota (just an example) has? (Answer, 1) Did you ever wonder which cars are serviced by Toyota dealerships? (Answer, ALL of them, including trucks). Any questions?

Now I'm not counting lexus or Acura, or anything like that since I feel that is the Japanese implementation of an American idea. I just point this out to show that there is a lot of DUPLICATION OF EFFORT in the Amarican auto industry. Is it necesarry? You tell me.