Skip to content
Catholic Online Logo

By Randy Sly

12/3/2008 (5 years ago)

Catholic Online (www.catholic.org)

All three U.S. Auto companies took the instructions from Congress seriously and are returning with detailed plans on cutbacks and cost-savings measures.

Highlights

By Randy Sly

Catholic Online (www.catholic.org)

12/3/2008 (5 years ago)

Published in U.S.


WASHINGTON, D.C. (Catholic Online) - If Ford takes any government funds in a bailout, CEO Alan Mulally states he will work for $1 a year. This statement comes just two days before the Big Three automakers return to Capitol Hill for another meeting with Congress. Ford is seeking $9 billion in aid as a rescue package of loans.

Chrysler Chief Executive Robert Nardelli joined Mulally in promising a $1 per year stipend. A similar commitment is expected to come soon from the CEO of General Motors, Rick Wagoner, which is the company in most jeopardy.

All three U.S. Auto companies took the instructions from Congress seriously and are returning with detailed plans on cutbacks and cost-savings measures. All together, Ford, GM, and Chrysler already went through $18 billion dollars in reserves just in the last quarter alone and, with the exception of Ford, the others could collapse within the next few weeks. Ford reports have even cash on hand to survive until the end of 2009.

In the wake of a huge slump in domestic car sales, the Big Three are submitting plans this week that include such things as seeking concessions from the United Auto Workers and selling off all corporate jets. All three CEO’s were chastised both by Congress and the press for flying in for the last meeting in separate corporate aircraft.

Ford, alone, is reporting that the government bailout would be a backup plan, believing that they may be able to weather the storm. GM and Chrysler are both in survival mode and may be looking at more drastic cutbacks such as eliminating brands and selling fewer models in addition to government intervention.

Congress will be hearing testimony and Thursday and Friday of this week.

####

Randy Sly is a communications specialist and Associate Editor for Catholic Online. A former Archbishop of the Charismatic Episcopal Church, he has served in full time Christian ministry for over 30 years. He and his wife Sandy came into the full communion of the Catholic Church three years ago.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2014
Peace:
That the Lord may grant peace to those parts of the world most battered by war and violence.
World Mission Day: That World Mission Day may rekindle in every believer zeal for carrying the Gospel into all the world.



Comments


More U.S.

Three men sentenced for participation in Internet child pornography ring Watch

Image of The 13 defendants, who range in age from 23 to 66, are from Indiana, New Jersey, Washington, Virginia, Maryland, Oregon, Missouri, Montana, Kentucky, Arizona and Massachusetts.

By Stella Dawson, Thomson Reuters Foundation

The United States this week sentenced to prison three men involved in an international child pornography ring that exchanged online pictures and videos of children engaged in sexual acts, the government said on Wednesday. WASHINGTON (Thomson Reuters Foundation) - ... continue reading


How could he let it happen? 92% of Afghan war Marine KIA under Obama Watch

Image of During the entire, 12 years war in Afghanistan, 92% of U.S. Marine casualties took place under the six years of President Obama's term.

By Catholic Online (NEWS CONSORTIUM)

Earlier this week the U.S. Marine Corps withdrew its forces from Camp Leatherneck in Helmand province in Afghanistan, effectively ending their 13 year involvement in the Afghan war. LOS ANGELES, CA (Catholic Online) - "U.S. Marines and service members from the ... continue reading


Why Christians Should Celebrate Halloween - and Transform the Culture Watch

Image of Noah dressed up as the Incredible Hulk

By Deacon Keith A Fournier

The International Association of Exorcists sponsored a gathering in Vatican City on the last weekend of October in 2014. The organization was formally approved by the Holy See in June. The global Press was enamored with the notion that the Church even recognizes ... continue reading


VIDEO: Antares rocket launch fails with fire and smoke Watch

Image of The Antares rocket was set to launch on October 27, but was postponed a day because a ship was in its expected trajectory.

By Catholic Online (NEWS CONSORTIUM)

A private contracted, unmanned NASA rocket exploded just after launch along coastal Virginia early on the evening of October 28 . LOS ANGELES, CA (Catholic Online) - The Antares rocket and Cygnus cargo spacecraft, products of Orbital Sciences Corp., were set to ... continue reading


Catholic, Protestant and Orthodox Christian Leaders Stand in Solidarity to Defend Marriage Watch

Image of Marriage as existing solely between one man and one woman was not an idea manufactured by the Christian Church. It precedes Christianity. Though affirmed, fulfilled, and elevated by Christian teaching, the truth that marriage can exist only between one man and one woman is not based on religion or revelation alone, but on the Natural Moral Law, written on the human heart and discernible through the exercise of reason

By Deacon Keith A Fournier

The Marriage Solidarity Statement was drafted by Deacon Keith Fournier, Founder and Chairman of Common Good Foundation and Alliance, and Mat Staver, Chairman of Liberty Counsel and Liberty Counsel Action. It was vetted among other Christian pastors and leaders ... continue reading


Bill Clinton Panders to Homosexual Activist Human Rights Campaign in Washington, D.C. We Will Resist Them Watch

Image of Pictured: Bill Clinton

This is the same President who, one year after he signed the Defense of Marriage Act, told the Homosexual and lesbian magazine The Advocate - I remain opposed to same-sex marriage. I believe marriage is an institution for the union of a man and a woman. This has been my long-standing position, and it is not being reviewed or considered. So, what has changed? Certainly not the truth about marriage. It cannot and will not change. Rather, this politician has changed. And, his wife wants to be President of the United States.

By Keith A. Fournier

All people of good will who recognize the vital role that marriage and the family play in serving the common good must get ready for what lies ahead. All people of good will who respect free speech, free association and the free exercise of religion must not be ... continue reading


A 'Living legend': Dr. Joseph Medicine Crow, last of the Crow war chiefs, turns 101 Watch

Image of Dr. Joseph Medicine Crow, a living legend at 101, and a renown historian and scholar of the Crow people.

By Catholic Online (NEWS CONSORTIUM)

Dr. Joseph Medicine Crow, the last Crow war chief, turned 101 on October 27, and spent the day at the Bighorn Battlefield, with his son. LOS ANGELES, CA (Catholic Online) - "I was fortunate when I was growing up," he said. "The Crow Indians were still retaining the ... continue reading


Former TV reporter says computer was bugged by Obama administration Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Former President Richard M. Nixon was notorious for the surveillance he used on who he perceived as being enemies - but it appears that current U.S. president, Barack Obama could have taught "Tricky Dick" a thing or two. According to former CBS reporter Sharyl ... continue reading


School shooting in Washington state leaves 2 dead, five injured Watch

Image of Kids and parents react to news of the shooting.

By Catholic Online (NEWS CONSORTIUM)

A shooting has occurred at a school in Washington, in which authorities believe a bullied student shot and killed another. The shooter is also believed to be dead. LOS ANGELES, CA (Catholic Online) - A school shooting has taken place at Marysville-Pilchuck High School ... continue reading


Guns Do Not Have Rights, People Do. Legitimate Self Defense is One of Them

Image of Guns have no rights, only people do.Yes, one of them is the Right to Self Defense - and the Right to defend your neighbor. You may ask,

By Keith A. Fournier

We live in a precarious time in the United States of America. Many of us are deeply concerned about the effort to infringe upon the fundamental rights which were delineated in the Bill of Rights to the United States Constitution. I have written extensively about ... continue reading


All U.S. News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ephesians 6:10-20
10 Finally, grow strong in the Lord, with the ... Read More

Psalm, Psalms 144:1, 2, 9-10
1 [Of David] Blessed be Yahweh, my rock, who trains ... Read More

Gospel, Luke 13:31-35
31 Just at this time some Pharisees came up. 'Go ... Read More

Saint of the Day

Saint of the Day for October 30th, 2014 Image

St. Alphonsus Rodriguez
October 30: Confessor and Jay brother, also called Alonso. He was born in ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter