I have spent the past 25 years in the automotive industry. I am the president of Oregon's largest vehicle leasing and finance company. I am an investor, an innovator, an employer, a fleet purchaser, a portfolio manager and the chief executive officer of a business that's central to the auto industry.
WASHINGTON – In an early morning televised announcement, President Bush announced a plan to offer the struggling automakers $17.4 billion in short-term financing, $13.4 immediately available and another $4 billion likely available in February. But the plan comes with strict conditions.
The Associated Press reported late Thursday night that bipartisan negotiations in Senate on a Republican version of the House-passed automotive industry bailout plan fell apart after the United Auto Workers balked at demands for dramatic wage cuts.
GM, Ford, and Chrysler will testify Dec. 5 before the House Financial Services Committee in an effort to secure a $25 billion emergency bridge loan. It is imperative that this emergency funding be approved. Failure to do so will have negative repercussions to the fleet management industry. Here's why.
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