Word: auto
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Dates: during 2000-2009
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...Meanwhile, the work necessary for averting a GM bankruptcy remains undone. Although the automaker is reportedly making progress on negotiations with the United Auto Workers (UAW), open issues remain, and GM even got into a public spat with the UAW over importing cars from China and Mexico. The union is now demanding more assurances as to what cars GM plans to build in the U.S. in the future. (See portraits of autoworkers...
...Another 15% of permits would be given free of charge to energy-intensive factories in the Rustbelt, such as steel, glass, cement, aluminum and paper plants, which would become less competitive internationally if they had to pay for permits. For its part, the hard-hit auto industry would be treated to 3% of the permits to encourage domestic production of electric and fuel efficient vehicles...
...Depending on how an accountant would value the equity that the Treasury will get in Detroit, the federal government will put $40 billion into the U.S. car industry and that number could go higher if the domestic automotive market does not recover. The auto industry is selling fewer than 10 million cars a year after selling over 16 million just four year ago and under those circumstances no expense reduction will make the industry profitable...
...ECFA will be different from a normal free-trade agreement. It will take the form of a framework that will identify the types of items we will negotiate over time. We want to negotiate with the mainland about some of the products we consider most urgent. For instance, pertrochemicals, auto parts, textiles, these products constitute a large percentage of our exports to the mainland. Beginning next year, the same products from (Southeast Asian countries) will have no tariffs, but ours will face tariff rates from 5% to 15%. That will kill our industries. The mainland has already indicated interest...
...requiring the stress tests. At her May 5 news conference with Energy Secretary Steven Chu and Agriculture Secretary Tom Vilsack, Jackson suggested this was a good thing, because corn ethanol is an "important bridge" to better biofuels. The Administration also announced that it plans to push the auto industry to make flex-fuel vehicles that run on 85% ethanol blends - and since ethanol plants have been slammed by a combination of high corn prices, the rise of cleaner technologies and the lousy economy, Washington will help them get credit...