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 July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More U.S.

Malinformed much? Ninety percent of your information now comes from just 6 media sources Watch

Image of Small media outlets are consumed by the large, limiting the variety of expression.

By Catholic Online (NEWS CONSORTIUM)

Have you ever tried to describe something, but lacked the vocabulary to do it? This is the concept behind Newspeak, a fictional language in George Orwell's 1984. Orwell proposed that by limiting expression, thought itself could be limited. Today, as media companies ... continue reading


Virginia's ban on same-sex marriage struck down Watch

Image of The Virginia case, Bostic v. Rainey, was brought by two same-sex couples. Fourteen thousand gay couples also were certified as a class for the suit.

By Catholic Online (NEWS CONSORTIUM)

In a dramatic reversal of a voter-based 2006 decision, U.S. appeals court this week struck down Virginia's ban on same-sex marriage as unconstitutional, the latest in a string of court rulings to back gay marriage. A three-judge panel of the 4th U.S. Circuit ... continue reading


Archbishop Chaput Speaks at the Napa Institute Conference on Pope Francis and Economic Justice

Image of Archbishop Charles J. Chaput is one of the preeminent Churchmen of our age. He offers a prophetic voice for this important time. He not only grasps and articulates Catholic Social Doctrine well, he also understands the real treasure we have been given in this Pope who took the name Francis. I believe that his insights into Pope Francis need to be read by as many people as possible.

By Catholic Online

In matters of economic justice, Francis' concerns are the same as Benedict's and John Paul II's and Pius XI's and Leo XIII's. He understands economic matters through the lens of Church teaching in the Compendium of the Social Doctrine of the Church. Like his ... continue reading


Thousands of Christians Flee Under Death Threat From Tyrannical Caliph and ISIS Jihadists Watch

Image of (Pictured: Abu Bakr Al-Baghdadi, or Caliph Ibrahim) At first, Christians were ordered to gather in a central place to receive the directive from the self appointed Caliph. Understandably, given the track record of this maniacal tyrant, few did. So, the text of the statement was issued as a formal declaration to all Christians - We offer them three choices: Islam; the dhimma contract - involving payment of Jizya; if they refuse this they will have nothing but the sword.

By Deacon Keith A Fournier

By now, everyone who is in anyway concerned about what is happening to Christians in Iraq has heard the horrific news. The madman who claims to be a descendant of Mohammed, Abu Bakr Al-Baghdadi - who in his delusion and grandiosity has taken to calling himself ... continue reading


Bridget of Sweden, Marriage and Family, and the Need for Canonized Married Saints Watch

Image of St Bridget of Sweden, her husband Ulf, and all the modern Popes call Christian married couples to become the 'Sweet and Smiling Face of the Church' in this age. This is an age which is desperately in need of all kinds of saints. I suggest we particularly need examples of married, canonized Saints. That is precisely because this is an age where faithful marriage is now counter-cultural. We need examples of men and women who not only embraced it in Christ, but lived it as a but a path to heroic virtue.

By Deacon Keith A Fournier

The clear teaching of the Bible, the Christian tradition and the re-emphasis of the last Council in the Catholic Church, the Second Vatican Council, make clear - we are ALL called to holiness in life. That  is what the Catholic Church regularly refers to as ... continue reading


Deacon Keith Fournier: The Courage of the Catholic Bishops, Religious Liberty, Hobby Lobby and ENDA Watch

Image of Deacon Keith Fournier is Founder and Chairman of Common Good Foundation and Common Good Alliance. A married Roman Catholic Deacon of the Diocese of Richmond, Virginia, he and his wife Laurine have five grown children and six grandchildren, He serves as the Director of Adult Faith Formation at St. Stephen, Martyr Parish in Chesapeake, VA. He is also a human rights lawyer and public policy advocate. Deacon Fournier is a graduate of the Franciscan University of Steubenville (Theology and Philosophy, BA), the John Paul II Institute of the Lateran University (Theology of Marriage and Family, MTS), and the University of Pittsburgh School of Law (JD). He has completed requirements for the PhD in Moral Theology at the Catholic University of America and is writing the PhD dissertation on the teaching of St. John Paul II.

By Deacon Keith A Fournier

The Catholic Bishops are doing an excellent job standing up for Religious liberty as a fundamental human right. One of my growing concerns is that many Catholics do not even read what they are saying. Sadly, in a propagandized media where sound bites substitute ... continue reading


Obama demands that illegals be allowed to enter U.S. Watch

Image of Tens of thousands of illegal, unaccompanied minors have flooded into the United States since 2014 began, often escaping violence in war torn Central American countries.

By Catholic Online (NEWS CONSORTIUM)

President Barack Obama's administration is considering whether or not it will allow hundreds of minors and young adults from Honduras and other war-torn Central American states to enter into the United States illegally and without crossing into the country ... continue reading


Are you ready for the next dust bowl? California is! Watch

Image of A new study suggests that the Colorado River Basin is rapidly running out of water, which may be disastrous for the seven states it supplies.

By Catholic Online (NEWS CONSORTIUM)

According to a report published by the American space agency and the University of California, the water crisis that is punishing the southwestern United States is likely to worsen. LOS ANGELES, CA (Catholic Online) - The report found that the prime source of water ... continue reading


PLAGUE OF BIBLICAL PROPORTIONS: Mayflies descend on Wisconsin Watch

Image of When summer arrives, Mayflies take flight and proceed to mate before immediately going back to the water to lay eggs and die.

By Catholic Online (NEWS CONSORTIUM)

It's a plague of Biblical proportions. Ugly mayflies have descended on the state of Wisconsin, covering up exterior services like so much black, metallic dust. Photos coming out of Wisconsin is sure to send viewers itching - so beware of some of the sights in ... continue reading


Catholic Bishops Decry Obama's LGBT executive order as imprudent act of religious discrimination Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

The chairmen of the United States Conference of Catholic Bishops' Ad Hoc Committee for Religious Liberty and Committee on Laity, Marriage, Family Life and Youth have been strong in their condemnation of President Obama's legislation on LGBT employees. "Today's ... 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, Jeremiah 15:10, 16-21
10 A disaster for me, mother, that you bore me to be ... Read More

Psalm, Psalms 59:2-3, 4, 10-11, 17, 18
2 rescue me from evil-doers, from men of violence ... Read More

Gospel, Matthew 13:44-46
44 'The kingdom of Heaven is like treasure hidden in ... Read More

Saint of the Day

Saint of the Day for July 30th, 2014 Image

St. Peter Chrysologus
July 30: St. Peter Chrysologus, Bishop and Doctor of the Church ... 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