Remember when Detroit 3 came to nation’s rescue, senators?

[BeatleBoot]

Source: The Detroit Free Press

http://www.freep.com/article/20081211/COL06/81211068

Remember when Detroit 3 came to nation’s rescue, senators?

When Hurricane Katrina slammed into Louisiana and Alabama on Aug. 29, 2005, the automobile companies of Detroit did not harrumph that the Gulf Coast should have been better prepared.

They didn’t sit back and wait for New Orleans to submit a detailed plan for future repair of the ruptured levees.


General Motors Corp., on Aug. 30 donated $400,000 to the American Red Cross 2005 Relief Fund, pledged to match up to $250,000 more in employee contributions and sent more than 150 vehicles to the stricken area for use in relief work.


Ford Motor Co. and the UAW quickly made a joint donation of $100,000 to the Red Cross. The Chrysler Group gave $150,000 to the Red Cross and $200,000 to local New Orleans charities; DaimlerChrysler Services chipped in $200,000 for the Red Cross and pledged to match employee donations up to $50,000.


Between them, the three Detroit auto companies gave more than $18 million in cash and vehicles to the Katrina relief effort in the ensuing months. No strings attached.


U.S. Sen. David Vitter, R-Louisiana, should think about that before he casts his vote on a Senate bill to provide $14-billion in emergency rescue loans to GM and Chrysler.


Vitter said Wednesday that he plans to vote against the bill because, in his words, it is “ass-backwards” to give money to the distressed companies before Congress sees more detailed survival plans.


Sen. Richard Shelby, R-Alabama, should think about Hurricane Katrina, too. He has threatened a filibuster against the bill, calling it “a bridge loan to nowhere” and stating that Detroit’s automakers should undergo a fundamental restructuring before they ask Congress for money.


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[WannaJumpMyScooter]

1. 18 million for a huge disaster is a little

different than 15billion to reward poor planning and greed, don't ya think?

[katanalori]

2. Not sure it is poor planning and greed....

I think main problem is credit dried up, and people cannot get loans for autos. It goes back to Wall Street and the banks (and Bush administration's deregulation that caused the crredit crunch) IMO.

[BeatleBoot]

3. I would agree if it were a giveaway and not a loan

I would also agree if it were poor planning and greed, but you are dead wrong.

So I don't agree.

But I don't agree with most of the newly found "auto experts" on DU who never have worked in the industry nor understand where our economy will go - in about 30 to 60 days if nothing is done.



And it is duly noted that you are in agreement with both Shelby and Vitter.

[ColbertWatcher]

4. "No strings attached." Good point, k+r, n/t.

[Lifetimedem]

5. K&R

[MadMaddie]

6. The same Republican Senators bent over and smiled

for the Financial Industry and said nothing while billions of dollars were handed over withought even a thought. It's time to push the point that they are owned by the foreign companies that reside in their states and these Republicans are anti-American and Anti-American companies. I