BIG 3 On the Hill and Detroit Rock City

FINAL UPDATE: CSPAN now has the video of the CEOs (Panel 2) up here

Panel 1 (Congress persons from affected states supporting auto TARP use) also up here

UPDATE 3: Maxine Waters, D-CA wants each of the BIG 3 CEOs to promise to dedicate 1 billion of the bailout to helping dealerships, Wagoner said well, we really need all that money (no), Nardelli, yada yada (Maxine says okay you agree), and Mulally says no, the FED actions will free up credit (but he won’t say no).

UPDATE 2: Gee, this is a hostile crowd even on the DEM side

Kanjorski, D-PA, just said to Wagoner, paraphrasing: “Maybe I’m an idiot but I don’t know what the hell you just said; can’t you just tell us how much you need to get through to March 30th..”

Frank chimes in, saying under bill they propose Obama appointees will have ability to VETO any use of the 25 billion they don’t like, WOW!!

Okay after listening to the testimony for a bit and the debates on CNBC I have to chime in and say NO SHXT THE HEALTHCARE IS THE PROBLEM! WTH didn’t you support Hillary’s healthcare in 93!!!

Okay I feel better now :0)

UPDATE: CNBC on ‘Soft Sell’ by Big 3, full page ad taken out in WSJ

watch it here

here is one for Detroit:

BIG 3 on the Hill:

Watch it live here

Washington, DC—House Financial Services Committee Chairman Barney Frank today announced a legislative hearing on extending the Department of Treasury’s Troubled Asset Relief Program (TARP) to the U.S. auto industry.  The bill, which is still being drafted, will extend the recently passed TARP program to help the financial stability of the American car industry.

Witness List & Prepared Testimony:

Panel 1

  • Members of Congress

Panel 2

  • Mr. G. Richard Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation
  • Mr. Robert Nardelli, Chief Executive Officer, Chrysler, LLC.
  • Mr. Alan Mulally, President and Chief Executive Officer, Ford Motor Company
  • Mr. Ron Gettelfinger, President, United Auto Workers

Panel 3

  • Mrs. Annette Sykora, Chairman, National Automobile Dealers Association
  • Mr. James S. McElya, Chairman and Chief Executive Officer, Cooper-Standard Automotive, Inc.
  • Professor Jeffrey D. Sachs, Director, The Earth Institute; Quetelet Professor of Sustainable Development and Professor of Health Policy and Management, Columbia University
  • Dr. Matthew J. Slaughter, Professor of International Economics, Tuck School of Business, Dartmouth College

The debate continues on whether the Big 3 should be allowed to go through CH 11, and it was covered quite well and quite passionately from both sides on Squawk on the Street this morning (ACE reports the Big 3 chiefs flew to DC in their private jets this morning, not the best way to handle PR)

VIEW IT HERE

A reaction to the ongoing auto bailout hearings, with Jim Hall, 2953 Analytics; CNBC’s Phil Lebeau, Scott Cohn, Steve Liesman and David Faber (and my fave Mark Haines!!)

November 19, 2008. Tags: , , , , , , , , , , , , , , , , . Economy, Finance, Politics, TARP.

4 Comments

  1. Breaking: Big 3 Bridge Deal Reached in Congress..developing…Dingell Out Waxman In « Moderate in the Middle replied:

    […] BIG 3 On the Hill and Detroit Rock City […]

    Like

  2. » BIG 3 On the Hill and Detroit Rock City replied:

    […] j t wrote an interesting post today onHere’s a quick excerpt UPDATE 3: Maxine Waters, D-CA wants each of the BIG 3 CEOs to promise to dedicate 1 billion of the bailout to helping dealerships, Wagoner said well, we really need all that money (no), Nardelli, yada yada (Maxine says okay you agree), and Mulally says no, the FED actions will free up credit (but he won’t say no). UPDATE 2: Gee, this is a hostile crowd even on the DEM side Kanjorski, D-PA, just said to Wagoner, paraphrasing: “Maybe I’m an idiot but I don’t know what the hell you just said; can’t you just tell is how much you need to get through to March 30th..” Frank chimes in, saying under bill they propose Obama appointees will have ability to VETO any use of the 25 billion they don’t like, WOW!! Okay after listening to the testimony for a bit and the debates on CNBC I have to chime in and say NO […] […]

    Like

  3. ginaswo replied:

    Gee, this is a hostile crowd even on the DEM side

    Kanjorski, D-PA, just said to Wagoner, Maybe Im an idiot but I dont know WTH you just said; cant you just tell is how much you need to get through to March 30th..

    Frank chimes in, saying under bill they propose Obama appointees will have ability to VETO any use of the 25 billion they dont like, WOW!!

    Like

%d bloggers like this: