Monday, May 20, 2013

Latest local news, weather and high school sports from the Midlands

McConnell says ailing automakers not doing enough
Posted: 02.22.2009 at 4:52 PM
0

WASHINGTON, DC (AP) -- The Senate's Republican leader says U.S. automakers seeking government aid still aren't doing what's necessary to save themselves.

Sen. Mitch McConnell of Kentucky says that failure, in his view, is leading to a long-term policy in which the government simply props up the auto industry.

The government has already loaned $17 billion to General Motors Corp. and Chrysler, and they are seeking nearly $22 billion more.

McConnell says he opposed the bailout money in December because the companies were not willing to restructure as needed. And he says the companies still aren't making the restructuring decisions that are called for.

McConnell appeared Sunday on CNN's "State of the Union."

(Copyright ©2009 by The Associated Press. All Rights Reserved.)

Popular Stories
Thumbnail
Testimony: Capnerhurst was a glorified clerk for a bookie
Katie McKee  |  Today at 3:40 PM  |  3 comments
Thumbnail
X Factor taping in Charleston, free tickets available
Fraendy Clervaud  |  Today at 10:55 AM  |  3 comments
Thumbnail
Ammonium Nitrate fire prompts evacuation in Newberry County
WACH Fox News Center  |  3 minutes ago
Follow Midlands Connect
Get news and weather notifications on your phone by downloading the iPhone or Android app below
Sign up to get alerts and updates for breaking news, severe weather, and deals:
submit
ADVERTISEMENT
Special Features
MoneyWACH
Financial tips & tricks from Palmetto Citizens Federal Credit Union
MOJO Gallery
View and share your pictures from around the Midlands
Mission Midlands
A program from the Oliver Gospel Mission
ADVERTISEMENT