
Tennessee Senator Bob Corker Files Alternative Auto Bailout Plan
Submitted by Joe Legge on December 11, 2008 - 5:35pm.
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Comments Below: 21
Comments Below: 21
Sen. Bob CorkerHe may be the least popular person in Detroit, but U.S. Senator Bob Corker's ok with that, if he can help the Big Three become viable again. "I know the White House is actually at a point where they're looking for the next flight out of town on January 20 and basically want to kick the can down the road and let some other administration and some other congress deal with this issue," Corker said on the Senate floor.
He got busy before dawn today, working multiple angles, in hopes of convincing Senators the current auto bailout bill won't help the industry. "I mean you couldn't make it almost more ineffective and more complicated," said Corker about the White House plan.
Corker favors an alternative plan that focuses on debt reduction, and bringing the wages and benefits of U-S auto workers in line with foreign competitors.
Senate Majority Leader Harry Reid says "if the Republicans have an alternative, let them offer that." So, this afternoon, Corker filed an amendment to the bailout bill, with his ideas.
Should the Corker alternative and the current bailout fail, Congressman Zach Wamp says the President may be willing to dip into the $700 billion financial bailout. "The president has committed to Senate Republicans, that he will send the details to GM that if they don't cut costs and make the changes to be competitive by January 20th they're not getting any money and they'll have to face whatever, including Chapter 11."
Visiting via satellite with Rotary members back home, Corker told the crowd he's trying to save GM, and keep the entire industry competitive. Corker says "GM has a balance sheet that doesn't allow it to be sustainable in the future, it just will not happen."
Even with Volkswagen building a plant in Chattanooga, local business leaders agree. Chamber President Tom Ed Wilson says "there's a lot more jobs in the supply chain than there is with the automobile makers, so I think its just in the end good business to have everybody who competes in the market be as strong as it possibly can."
Making the end game in this bailout bonanza really all about saving American jobs.
Another idea floated by some calls for a $7,000 tax credit to purchase a U.S. made vehicle in the next 60-days. That plan would cost the government $1.7 billion, resulting in an in flux of cash for the automakers, who could then start building more energy efficient vehicles.
| Attachment | Size |
|---|---|
| Corker Alternative Amendment.pdf | 23.72 KB |
Fast moving Senator
Submitted by Guest (not verified) on June 24, 2009 - 9:07am.
On Thursday June 18 th Sen. Bob Corker blew off his meeting with Sonia Sotomayor last week. Hobbling along with her leg in a cast, she was 10 minutes late and he said he didn’t feel like waiting. “I decided to proceed on to the next meeting,” he told a Tennessee Press Association breakfast in Chattanooga. A meeting with a Supreme Court nominee is not near as important as the breakfast with the great people of Chattanooga.
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Stimilus Bill
Submitted by Sam Carlile (not verified) on February 9, 2009 - 12:16am.
Dear Senator,
My wife & I appreciate the fine work you are doing for us in the Senate.
Please continue to work to defeat the Stimilus bill
now in Congress. At least, cut the "PORK" so my wife and grandkids won't be in debt all their lives.
We need jobs not welfare.
Thanks,
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CORKER PRETENDS TO WANT TO
Submitted by Guest (not verified) on January 21, 2009 - 9:33pm.
CORKER PRETENDS TO WANT TO SAVE THE DOMESTIC AUTO INDUSTRY. THE DEMISE OF AMERICAN MANUFACTURING IS NOT A RECENT OCCURENCE. IT IS A CULMINATION OF THE LAST TWENTY EIGHT YEARS OF OUR GOVERNING ADMINISTRATION. UNFORTUNATELY THE PEOPLE OF THIS GREATER THAT IT IS NOW NATION CONTINUES TO ELECT CARPETBAGGING SCALAWAGS TO PUBLIC OFFICE. HOPEFULLY THIS NEW ADMINISTRATION WILL BE DIFFERENT. FOR TWENTY EIGHT YEARS OUR GOVERNING ADMINISTRATION HAVE ENCOURAGED MANUFACTURING FACILITIES TO LEAVE THIS NATION BY PASSING LEGISLATION PAID FOR BY CORPORATE LOBBYIST THAT ALLOW THEM FREE INCOME TAX. RECONSTRUCTION ERA IS ALIVE IN THE NORTH AS WELL AS THE SOUTH. PLEASE VOTE THESE CARPETBAGGING SCALAWAGS OUT OF OFFICE.
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We did. Jim Sasser and Al
Submitted by Soylent Green (not verified) on June 24, 2009 - 8:22pm.
We did. Jim Sasser and Al Gore are gone, and good riddance.
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WHY DONT WE ALL WORK FOR WAL
Submitted by Guest (not verified) on January 15, 2009 - 1:05pm.
WHY DONT WE ALL WORK FOR WAL MART & AGREE TO WORK FOR CAR MANUFACTURERS FOR $7.50 AN HOUR. THEN LETS SEE WHO CAN AFFORD TO BUY THE PRODUCTS BECAUSE IF YOU THINK THE AUTO COMPANIES WILL GIVE THE BUYING PUBLIC A GREAT DISCOUNT BECAUSE OF CHEAP WAGES, YOU ARE CRAZY! BETTER YET. LET EVERY STATE ALLOW FOREIGN AUTO MAKERS & COMMUNIST COUNTRY AUTOMAKERS AWESOME TAX BREAKS & ALLOW THEM TO HELP DRIVE DOWN THE AMERICAN WORKING CLASS SUCH AS MR. CORKERS STATE! THERE ARE NO FREE TRADE AGREEMENTS CONCERNING THE UNITED STATES. ONLY UNFAIR AGREEMENTS EXIST! GREAT JOB BUSH! 9 FREE TRADE AGREEMENTS WHEN HE WENT INTO OFFICE & NOW 15 OR SO! NOW HE WANTS TO SHOVE ONE THROUGH WITH COLUMBIA BEFORE MR. OBAMA GETS SWORN IN! MOVE TO TENNESSEE G.W. YOUR FRIENDS ARE THERE!
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MY FAMILY & MYSELF, ALL
Submitted by Guest (not verified) on January 15, 2009 - 12:43pm.
MY FAMILY & MYSELF, ALL FROM THE GREAT LAKE STATE OF MEE CHEE GAN, & HARD WORKING UNITED AUTO WORKERS, SPEND QUITE AN AMOUNT OF TIME IN THE SUMMER GOLFING AROUND THE EAST SIDE OF TENNESSEE. WE ALSO OWN GOLF PROPERTIES THERE. AT THIS TIME WE ARE LOOKING FOR ANOTHER STATE THAT WOULD LIKE TO APRECIATE US SPENDING OUR UAW DOLLARS & BOYCOTT MR. 'DORK-ER'S' STATE OF TENNESSEE! WERE JUST HARD WORKING MIDDLE CLASSED AMERICANS THAT WONT PUT UP WITH NOR INDORSE AN ELECTED OFFICIALS THOUGHTS SUCH AS HIS! TENNESSEE,...YOU CAN HAVE THAT LOSER!
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GOODBYE!
Submitted by Guest (not verified) on January 15, 2009 - 3:58pm.
Goodbye and don't let your faulty car door hit you in the rear as you leave.
REAL middle class American workers can't afford to run all around the country golfing, let alone own "golf properties" in other states.
The gravy train's over for Detroit.
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who paid for this dirt bag's
Submitted by Guest (not verified) on January 15, 2009 - 11:56am.
who paid for this dirt bag's trip to detroit,sure hope it wasn't mich. taxpayers
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Senator Corker
Submitted by Neal Bannister (not verified) on January 14, 2009 - 7:56pm.
I would just like to find out if this clown flew commercial to the auto show. Last time I checked the financial situation of the US government isn't exactly a model of perfection. Holier than thou clown. To be part of the problem (government that has hung the middle class out to dry with free trade) and look down his nose........laughable. Ever heard of equal tariffs? How about common sense that dictates free trade with unequal economies (Mexico, China....) hurts BOTH countries. Wow. Who hired this guy.
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Corker in CEO's Pocket
Submitted by Guest (not verified) on December 14, 2008 - 11:29am.
Who backs Corker's Campaigns? I would bet the UAW will back anyone but him. The UAW just wants a fair wage for a fair days work. While the CEO's are taking half a million dollar bonuses. But it is all the fault of the UAW. Cause they should be willing to work for less than a dollar a day. So as to asure that the CEO's get bigger bonuses. And continue to design auto that the people world world wide want and can't afford to buy. I do believe that is pretty close to Bob Corker's point of view.
Bob Corker has an ear for the poor ole pityful CEO's.
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"UAW just wants a fair wage ofr a fair days work"
Submitted by Guest (not verified) on December 17, 2008 - 11:43am.
"Who backs Corker's Campaigns? I would bet the UAW will back anyone but him. The UAW just wants a fair wage for a fair days work. "
We all want a fiar wage for a fiar days work. But the US companies' workers are receiving a wage that cannot allow any profitability. How is that fair? Everybody's investments, everybody's jobs are at risk. So the government needs to bail out these workers. How is that fair? The tax payers have to support these wages, how is that fair? The stockholders of GM / Chrysler are losing everything, but the auto workers are not willing to put their money where their mouth is and compromise, how is that fair? The UAW is using their leverage to threaten an economic catastrophe, without making any compromise. How is that fiar? No one is standing up agains thte wealth CEOS / auto workers but Corker. He is losing a lot of popularity over this and is being denounced. How is that fiar?
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Will Volkswagen help?
Submitted by Kathy (not verified) on December 14, 2008 - 2:01am.
I sure hope we never find ourselves in another World War! I wonder if Volkswagen, Toyota, Honda etc will be our fighter planes, tanks etc. for us?
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Corker
Submitted by Guest (not verified) on December 13, 2008 - 9:53am.
Senator Corker, did the wrong thing to DEMAND a specific date for the autoworkers to make consessions. The workers did not mismanage these companies, the executives did, the workers did not make the decision to keep making autos that did not sell good, the workers were not fying around the country on corporate jets, the workers are not getting millions in unrealistic bonuses, all the workers did was work hard to make a living for their families. It is unfair that the workers must give up substantial benifits for their families. Corker does not have to worry about things like Christmas, birthdays, college, medical bills. The only thing I can conclude from the actions of Corker is that he is trying to bust the UAW. Don't punish innocent workers for managements BAD decisions. Corker has no business being in the position he holds on any committees by trying to bring down innocent workers and effecting their families. He should be ASHAMED!!!!
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Senator Corker Was Right
Submitted by Andrew Smith (not verified) on December 12, 2008 - 4:54pm.
I was very disappointed that Senator Corker's plan got bogged down due to the UAW's unwillingness to bring their wages into line with the foreign car companies domestic factory wages. I thought his plan to have wealthy investors (bond holders) only receive 30 cents on the dollar and his thoughts on handling GMs benefits costs were brilliant. The pain was shared and necessary to make our auto companies competitive. What sense does it make to argue that a company that is losing money can afford to pay uncompetitive salaries? I am ashamed of our President and am disappointed that the UAW is so disconnected from reality.
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UAW
Submitted by Don (not verified) on December 12, 2008 - 11:20am.
Bob Corker's answer from the UAW to his three words asking for "a date certain" for the UAW to give up anything is "NEVER" . Bob Corker did the right thing.
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UAW
Submitted by Tommy Crangle (not verified) on December 13, 2008 - 12:34am.
The announcement by the Whitehouse (Paulson) that he would provide money from TARP if the negotiations in the Senate fell through in effect scuttled the whole deal. The UAW chose to wait for a better deal. Sad.
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UAW
Submitted by Jkresh (not verified) on December 12, 2008 - 11:53am.
How come Senator Corker didn't place the same restrictions on AIG or any of the companies on the Financial Bail Out or ask the overpair Execs from the "Big 3" take big pay cuts?
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He did ask the execs to take
Submitted by Guest (not verified) on December 12, 2008 - 4:01pm.
He did ask the execs to take a pay cut, and work for $1 a year
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executive wages
Submitted by dale cox (not verified) on December 30, 2008 - 9:22pm.
I think bob corker should work for one dollar a year. In fact he should enjoy all the pay he gets from the american taxpayers because he will lose the next election. Thanks for listening to a former saturn employee.
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Senator Corker is an idiot
Submitted by Guest (not verified) on December 12, 2008 - 9:12am.
Enough said!
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