6 governors ask feds for help for US automakers

Thu Oct 30, 2008 1:53 PM EDT

Kathy Barks Hoffman, Associated Press Writer

LANSING — The governors of six states have sent a letter to federal officials asking that they take "immediate action" to help the troubled domestic automakers.

In their letter, the governors of Michigan, Delaware, Kentucky, New York, Ohio and South Dakota remind Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that the domestic automakers are "particularly challenged" in the down economy.

They warn that the financial well-being of other major industries and millions of American citizens are "at risk."

General Motors Corp. and the owner of Chrysler LLC are in talks to combine the automakers in order to survive, but financing is one of the biggest obstacles. GM has been lobbying in Washington for the federal government to put money into the deal.

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1.8

{"commentId":3787470,"authorDomain":"punkjohnnycash"}

PunkJohnnyCash

How is a broken economy supposed to heal if we continue to keep failing companies afloat? putting money into something that won't bring it back in is bad. Allowing other companies to come in and take what is salvagable and making a healthy company out of something dying sounds a little more sound.

{"commentId":3787470,"threadId":"404245","contentId":"2056549","authorDomain":"punkjohnnycash"}

1 vote

#1 - Thu Oct 30, 2008 2:26 PM EDT

{"commentId":3787715,"authorDomain":"Griff69"}

Griff69

*gasp* Why do you hate America?

/satire

{"commentId":3787715,"threadId":"404245","contentId":"2056549","authorDomain":"Griff69"}

#1.1 - Thu Oct 30, 2008 2:38 PM EDT

{"commentId":3788029,"authorDomain":"punkjohnnycash"}

PunkJohnnyCash

The constitution gives the government the ability to establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States. They did this in Article 1, Section 8, Clause 4. Chapter 11 can be used to reabilitate and reorganize the companies while they negotiate new terms. Throwing money at it and just ignoring the laws in place is unethical. There are other options available also.

{"commentId":3788029,"threadId":"404245","contentId":"2056549","authorDomain":"punkjohnnycash"}

1 vote

#2 - Thu Oct 30, 2008 2:54 PM EDT

{"commentId":3788674,"authorDomain":"tinkledowntheory"}

ex military Republican

OHIO NO HOW NO WAY They are closing their Plant in Morain so do not give GM any money. Send their check directly to the governor of Ohio as he must need it.

{"commentId":3788674,"threadId":"404245","contentId":"2056549","authorDomain":"tinkledowntheory"}

#3 - Thu Oct 30, 2008 3:24 PM EDT

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Backyard

6 governors ask feds for help for US automakers

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