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Auto Bailout Almost There

Sources say that the White House and Congressional Democrats are close to a deal that will provide the funding to bail out the Big Three U.S. automakers. The taxpayer plan will be directed by a Bush appointee acting as a 'Czar' who will approve all expenditures over $25 million.

In exchange for concessions made on the part of their employees, the United Autoworkers union is hoping to secure a seat on the Board of Directors of General Motors, sources close to the negotiations says.

Obama's transition team has been involved in the talks.

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Rating: 1.4/5 (9 votes cast)

Comments (4)

claude smith:

more of a question. why is the gop better than the demos

Lee Ward:

It must be a trick question because I can't think of the answer...


UAW isn't satisfied with what they've done so far, they want to sit on the board and make sure they can screw it up right. What a surprise.


One seat on the board doesn't allow them any real power to "screw things up" -- except that it let's them 'behind the curtain' and privy to the discussions behind the asinine decisions made by the automakers.

It's a pretty standard request from unions -- I'm surprised that the automakers hadn't already been pressured to give them a seat.


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