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Who Wins in the Auto Industry Bailout?
The UAW is one of the prime players in the government’s bailout of the auto industry. It is an accepted fact that the labor cost of an American made car is one of the driving forces behind the cost of the product produced.
Financial RecoveryPresident Bush and the US government is giving loans of $17.4 billion dollars to GM and Chrysler until March 31, after much heated discussion and arguments about loans for automakers in Congress. The money will come out of the $700 billion dollars previously earmarked for financial recovery, which sits better in the minds of some people who did not want a separate funding put forth.
