Republican Congressman at Honda plant: Detroit 3 bankruptcy better than bailout

[DainBramaged]

Speaking on the sidelines of the dedication of a new Honda Motor Co. assembly plant here, a U.S. congressman said reorganization in U.S. Bankruptcy Court would be preferable to a federal bailout of the Detroit 3.

U.S. Rep. Mike Pence, a Republican from Indiana's 6th District, said today: "Reorganization in federal Bankruptcy Court happens all the time. Companies utilize it all the time and come out stronger and more whole in the end.

"It seems to me a better option than putting taxpayers on the hook."

Honda does not share his view.

Said Jeffrey Smith, assistant vice president for corporate affairs at American Honda Motor Co.: "Honda does support measures that would maintain the short- and long-term viability and stability of the auto industry.

"What those measures would specifically be, we're not in a position to comment," Smith said. But he also said the auto industry is made up of individual companies that are deeply and closely integrated at the supply base.

"I can tell you that this examination of some kind of support for the auto industry is very understandable," Smith said. "It's a major industry with a major impact on the United States at all levels.

"We are all better off if we have a strong auto industry."

Honda CEO Takeo Fukui spoke briefly at the factory dedication. "We are here during a very challenging time. We face a difficult economy, but at Honda we always understand challenging times represent opportunity," Fukui said.

"Demand for fuel-efficient products like the Civic remains strong. Our challenge is to deliver the highest-quality products."

The new plant, Honda's fifth in North America, began producing four-cylinder Civics last month. The plant is in a steady production ramp-up. Greensburg is making 150 vehicles today and will build 180 on Wednesday.

Honda plans to build 100,000 cars annually on one shift and 200,000 units per year on two shifts at the Indiana plant. The second shift is scheduled to begin in April.

http://www.autonews.com/apps/pbcs.dll/article?AID=/20081117/ANA02/811170249/1128 (subscription only, posted in total)

So the Southern Republicans, and a few in Ohio and Indiana, who have transplant auto factories in their states, want to see the big three go bankrupt, thereby busting the UAW/CAW. And you wonder about conflict of interest of these shills and some of the people here who WANT to destroy America's middle class.

[LisaM]

1. You've nailed it. It's about the unions. n/t

[DainBramaged]

2. NO ONE other than a select few believe me

I ge the "shitty car" argument ALL the time from the uninformed, but it is about one last chance for these scumbags to bust the Unions in this country for GOOD.:hi:

[RUMMYisFROSTED]

5. Let's have compassion for the CEO's!

:loveya:

[DainBramaged]

7. The CEO's don't mean shit to a tree, try the Board of directors

aim your criticism at the RIGHT target instead of just throwing tomatoes at the wall.

[Idealism]

3. Only problem is

if the Big 3 do go bankrupt, because the credit market is frozen and they are unable to make payroll, then because they can't get any credit at all means they won't be able to go into chaper 11 bankruptcy (which permits reorganization)- but into chapter 7- which means total liquidation. Gone off the face of the earth, taking millions of jobs with it. Great fucking plan Republicans.

[louis-t]

4. Once unions are totally busted

repugs would support handouts to Big 3 in Detroit minute.

[DainBramaged]

6. Yup, that's the plan, I am sure.

[predfan]

8. Like Shelby of Alabama, on TV yesterday railing against the big 3...

He, and Pence, and a bunch of red state republicans, aren't honest brokers, because they have foreign car plants in their states.

Losing the American automobile industry is a national security issue, as well. Money well spent in my community, since the last two manufacturing plants we have are auto related.

[madrchsod]

9. of course it`s about busting the union

it`s about forcing the companies to go bankrupt so they will be sold to the chinese and the indians.

gm and ford have cars coming into production 2009-10 that will rival the honda and toyota. ford going to build european cars here in the states.the big two do have the cars it`s the problem of people with money to buy them.

chrysler will be sold for it`s jeep line,vans, and specialty cars. chrysler`s automoblies are very bad and i really can`t see the auto line surviving.

[DainBramaged]

10. And of course, no comments, just silence from our "Progressive" friends here

[bullwinkle428]

11. Repuke "You're on your own" philosophy revealed in all of its ugliness!

[dkofos]

12. Why doesn't the UAW buy GM? It's a bargain at

[DainBramaged]

13. The majority share holders aren't budging, they know what GM is worth.

[DainBramaged]

14. Kick for those who may have a modicum of interest in saving America