The Wall Street Journal -- Top auto executives, including General Motors Corp. Chief Executive Rick Wagoner, will launch a lobbying push this week for billions in government loans to help beleaguered auto makers and their suppliers.
They aim to get as much as $50 billion in low-cost loans, and will try to play down the idea they are seeking a bailout, arguing that Washington has offered similar help to a range of other troubled industries, people familiar with the auto makers' lobbying plans said.
The auto makers and their Congressional supporters also will argue that they need funding to meet new fuel-economy standards imposed by Congress, and that the debt markets have broken down in the credit crisis, leaving them few other options, these people said.
Most analysts agree the new fuel-economy rules that take effect in the next decade will require billions of dollars in investment by the auto industry -- money the Detroit three don't have right now.Top auto executives, including General Motors Corp. Chief Executive Rick Wagoner, will launch a lobbying push this week for billions in government loans to help beleaguered auto makers and their suppliers.
http://online.wsj.com/article/SB122083515707008703.html
No comments:
Post a Comment