Detroit Pleads for Survival...Again
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The Big Three automakers have updated their plans and increased what they’re asking in federal help for survival. Instead of $25 billion, now they want $34. We hear how their latest appeals were received by a Senate Committee today. Also, Canada's newly elected, conservative Prime Minister has nearly been forced out of office, and Minnesota's US Senate race is so close a recount may not be possible. What do Al Franken and Norm Coleman do now?
Banner image: (L-R) United Auto Workers President Ron Gettelfinger, President and CEO of the Ford Motor Company Alan Mulally and Chairman and CEO of Chrysler LLC Robert Nardelli testify before the Senate Banking, Housing and Urban Affairs Committee. Photo: Chip Somodevilla/Getty Images
Making News
Canadian PM Stephen Harper Fighting for His Political Life ()
Less than two months after re-election, Canada's conservative Prime Minister has almost been forced out of office. Stephen Harper was saved for the moment by Queen Elizabeth's governor general, who agreed to let Parliament be closed down until the end of next month. Lisa Young, Professor of Political Science at the University of Calgary in Alberta, Canada, explains.
Guests:
- Lisa Young: Professor of Political Science, University of Calgary
Main Topic
Will Automakers Fare Any Better the Second Time Around? ()
The CEO's of the Big Three went back to Congress today, upping the ante from $25 to $34 billion in federal money to keep them in business. They promised personal sacrifice, better management and greener cars, saying the taxpayers would be paid back, maybe with interest. We hear their latest plans and how Senators in both parties reacted. Are the Big Three making better cars than they get credit for? Are they too important to too many people to allow them to fail?
Guests:
- David Shepardson: Reporter, Detroit News
- Peter De Lorenzo: former automotive advertising executive
- Dan Neil: Pulitzer Prize-winning auto critic, Los Angeles Times
- Mark J. Perry: Professor of Economics, University of Michigan-Flint
- David Gregory: Professor of Labor Law, St. John's University
Links:
- Big Three restructure plans presented to Congress
- Shepardson's article on Big Three testimony
- Dan Neil's article on nationalizing GM
- Shepardson's article on Energy Department's rejection of retooling requests
- De Lorenzo's 'The United States of Toyota: How Detroit Squandered Its Legacy and Enabled Toyota to Become America's Car Company'
Reporter's Notebook
Recall Drags on in Minnesota Senate Race ()
About three million votes were cast in last month's US Senate race in Minnesota, and the margin between the candidates is about 200, a difference of a few thousandths of one percent, making it appear impossible to determine a winner, even after a recount. Republican Senator Norm Coleman was considered vulnerable, and Democrat Al Franken gave up his job as a TV comedian to take Coleman on. What's happened might be funny if a US Senate stake wasn't at stake. Larry Jacobs is director of the Center for the Study of Politics and Governance at the University of Minnesota.
Guests:
- Larry Jacobs: Director of the Center for the Study of Politics and Governance, University of Minnesota
Links:
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