House Speaker Nancy Pelosi tells General Motors Corp. and Chrysler LLC that they better offer credible turnaround plans Tuesday, including pledges to meet tougher fuel economy requirements set by California and other states. Which even her friends who live in her backyard, the Japanese Automakers, say are un-realistic goals.
The letters cosigned by Barney Frank, D-Mass., the California Democrat said the automakers should also commit to protecting and sustaining the health and pension benefits of workers and an additional assurance that taxpayers benefit as corporate conditions improve and shareholder value increases. Now one of the main reasons the US Auto companies are in this mess is the ridicules benefits they are paying to their former line workers now. Their FULL pay that they made before retiring. But of course the management of these companies will have to cut their benefits. Watch and see.
Pelosi and Frank have become spokespersons for the Obama administration as GM and Chrysler are set to submit their plans for restructuring their businesses to the Obama administration as part of the $17.4 billion in government loans. Both were ordered to make steep cuts in debt and rework agreements with the UAW. But they have to keep their workforce benefits in tacked?
The letter from Pelosi and Frank to GM Chairman Rick Wagoner and Chrysler Chairman Robert Nardelli asks the automakers for “a demonstration of your ability to meet or exceed federal fuel economy requirements and the emissions standards adopted by California and other states.” The thing is, THEY have NOT adopted ANYTHING yet. Also, did this type of letter of ‘emission standards’ go out to Japanese Automakers? My guess would be NO. California and 17 other states WANT to set limits on greenhouse-gas emissions from vehicles. But to date they have not.
Funny, when you write to Pelosi, her office replies back to contact “Your representative on this and other matters of concern” But it’s OK for other constituent representatives (Pelosi and Frank) to dictate to others outside their district?
Bill O’Reilly should have directed his comments about Helen Thomas voice sounding like the Wicked Witch of the West to Pelosi demeanor.
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