The CEO's of Ford, Chrysler, and General Motors are meeting for there final time to try and ask Congress for a 34 billion dollar bailout, which according to the CEO's, is crucial in helpinig Americas economy. At the begining of these trials there was harsh criticism on the CEO's when they each arrived in there private jets that all cost well over millions of dollars. Now however, there is an interesting shift in character by these men. This time instead of arriving in there private jets they all drove there hybrid cars and even promised they would work for a 1 dollar annual salary. 
There are major reasons that congress might seriously consider this bailout package. One reason would be the number of employees that each company currently has. Acouple days ago, the labor department reported job losses to be 533,000 in the month of november. If there were no action taken toward helping the automotive industry, it would lead to even more problems that our econmy would have to face. It is very important that congress help in some way but not pay the 34 billion that the 3 CEO's are asking for. The automotive industry is not the only industry struggling during this time. So it would be inappropriate that congress give the automakers what they might not even deserve. The automotive industry is a very big part of the economy and should get a partial bailout from congress.
1 comment:
I'm curious - what if Congress said, we will give you the money, but you have to resign and can't take a job in the auto industry. Would they still ask for it?
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