December 19, 2008
Posted: December 19th, 2008 11:30 AM ET
GM Chairman and CEO Rick Wagoner held a press conference Friday after news of the Bush administration's auto bailout plan was released.
– Senator George V. Voinovich, R-Ohio: "While we are not out of the woods, there are millions of hard-working Americans today who can breathe easier this holiday season." – Congressman Tom Price, R-Georgia: "By bailing out automakers without real reform or long-term solutions, we are only protracting uncertainty and putting billions of tax dollars at grave risk." "It is now clear that the creation of TARP was a rueful mistake which has failed to provide urgent market stability, yet has put our country perilously in debt for the foreseeable future." – Congressman John D. Dingell, D-Michigan: "I strongly urge President-elect Obama to revisit this issue as his first priority upon being sworn in, and to ensure that assistance to the automakers is provided in a way that is fair to working Americans." Watch: GM CEO Wagoner on Bush rescue plan
– General Motors statement: "This will allow us to accelerate the completion of our aggressive restructuring plan for long-term, sustainable success." – Chrysler LLC Chairman and CEO Bob Nardelli: On behalf of the men and women of Chrysler and its extended enterprise, he said he would like to thank the administration and Treasury for their confidence in the company. – Ford Motor Company President and CEO Alan Mulally: "But all of us at Ford appreciate the prudent step the administration has taken to address the near-term liquidity issues of GM and Chrysler. The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy." Filed under: Economy |
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