Michigan News
Auto Leaders Look To Washington
ANN ARBOR, MI
(Michigan Radio) -
Leaders in the auto industry could get the final word this week on whether the federal government will come through with $25 billion in loans.
The House had planned to adjourn at the end of this week, so supporters of the auto industry loans were pressing to get them approved by Friday. Now, the House may stay in session to deal with the problems on Wall Street.
Some worry that the government is going too far bailing out troubled companies. And they say the auto industry shouldn't get the federal loans.
But auto industry analyst Jim Hall of 2953 Analytics says he expects many lawmakers will support the loans.
"There's a certain survivalist attitude for most of the people in the House and Senate," Hall says. "They really don't want to be the guys responsible for and then fill in the business catastrophe blank."
Executives at the auto companies say they need the federal loans to pay for expensive new technology to offset gas use. Congress approved the loans last year. But the money was never appropriated. © Copyright 2009, Michigan Radio
(2008-09-22)
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The House had planned to adjourn at the end of this week, so supporters of the auto industry loans were pressing to get them approved by Friday. Now, the House may stay in session to deal with the problems on Wall Street.
Some worry that the government is going too far bailing out troubled companies. And they say the auto industry shouldn't get the federal loans.
But auto industry analyst Jim Hall of 2953 Analytics says he expects many lawmakers will support the loans.
"There's a certain survivalist attitude for most of the people in the House and Senate," Hall says. "They really don't want to be the guys responsible for and then fill in the business catastrophe blank."
Executives at the auto companies say they need the federal loans to pay for expensive new technology to offset gas use. Congress approved the loans last year. But the money was never appropriated. © Copyright 2009, Michigan Radio






