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Last updated on Tuesday, December 2, 2008
(UNDATED) - Detroit’s big 3 automakers, the united auto workers, Washington, DC, and the governments of at least ten other nations are getting busy and making the case for bracing not just Detroit’s auto giants, but almost the entire worldwide auto industry.
Rick Wagoner, Alan Mulally, and Bob Nardelli, CEO's of GM, Ford and Chrysler respectively, make their business case for a $25 billion emergency loan to Capitol Hill today. Wagoner, Mulally and Nardelli have said they will take a yearly salary of just $1 each to continue steering their respective ships, while Mulally announced the launch of TheFordStory.com, a website talking about Ford's position in this critical situation and their plans to get out of it.
Back home in Detroit, The Detroit News reports UAW President Ron Gettlefinger has gathered a number of union leaders to gather support for reopening last year's UAW contract to make further concessions, including changing the schedule of contributions to the union healthcare fund, and eliminating the seemingly anachronistic job bank.
Elsewhere, Canada, the UK, Germany, Spain, Brazil, China, Sweden, France, Austrailia and Russia are all considering providing some sort of support for the auto industries in their nations, showing for sure, that it's not just Detroit.
However, three major automotive nations missing from that list: Italy, South Korea and Japan.
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