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I hate unions they caused the collapse of the british car industry and looks like they may well cause the collapse of the American car industry.
Auto bailout collapses in Senate
A £9 billion emergency rescue plan for US carmakers has collapsed in the Senate after a union refused Republican demands for swift pay cuts.
Senate majority leader Harry Reid said he was "terribly disappointed" about the demise of an emerging cross-party deal to rescue Big Three manufacturers General Motors, Ford and Chrysler. The deal was passed by the House of Representatives on Wednesday night.
He spoke shortly after Republicans left a closed-door meeting where they balked at giving the carmakers government aid unless the United Auto Workers union agreed to slash wages next year to bring them into line with those of Japanese manufacturers.
Republican senator George Voinovich, a strong bail-out supporter, said the UAW was willing to make the cuts - but not until 2011.
Mr Reid was working to set a swift test vote on the measure early on Friday, but it was just a formality. The Bill was virtually certain to fail to reach the 60-vote threshold it would need to clear to advance.
Mr Reid called the Bill's collapse "a loss for the country", adding: "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."
The implosion followed an unprecedented marathon set of talks in Washington among unions, the car industry and politicians who bargained in efforts to salvage the bailout at a time of soaring job losses and widespread economic turmoil.
"In the midst of already deep and troubling economic times, we are about to add to that by walking away," said Senator Chris Dodd, the Banking Committee chairman who led negotiations on the package.
Senator Bob Corker, the Republican leader in the talks, said the two sides had been tantalisingly close to a deal, but the UAW's refusal to agree wage concessions by a specific date in 2009 kept them apart.
The car workers' contract does not expire until 2011.
Auto bailout collapses in Senate
A £9 billion emergency rescue plan for US carmakers has collapsed in the Senate after a union refused Republican demands for swift pay cuts.
Senate majority leader Harry Reid said he was "terribly disappointed" about the demise of an emerging cross-party deal to rescue Big Three manufacturers General Motors, Ford and Chrysler. The deal was passed by the House of Representatives on Wednesday night.
He spoke shortly after Republicans left a closed-door meeting where they balked at giving the carmakers government aid unless the United Auto Workers union agreed to slash wages next year to bring them into line with those of Japanese manufacturers.
Republican senator George Voinovich, a strong bail-out supporter, said the UAW was willing to make the cuts - but not until 2011.
Mr Reid was working to set a swift test vote on the measure early on Friday, but it was just a formality. The Bill was virtually certain to fail to reach the 60-vote threshold it would need to clear to advance.
Mr Reid called the Bill's collapse "a loss for the country", adding: "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."
The implosion followed an unprecedented marathon set of talks in Washington among unions, the car industry and politicians who bargained in efforts to salvage the bailout at a time of soaring job losses and widespread economic turmoil.
"In the midst of already deep and troubling economic times, we are about to add to that by walking away," said Senator Chris Dodd, the Banking Committee chairman who led negotiations on the package.
Senator Bob Corker, the Republican leader in the talks, said the two sides had been tantalisingly close to a deal, but the UAW's refusal to agree wage concessions by a specific date in 2009 kept them apart.
The car workers' contract does not expire until 2011.
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