Do the Right Thing?

" I hope this I said the it's not a liquidation I think they'll be the wrong step but rather one allows reorganization. Liquidation -- organization the head of the Senate banking committee sounding like a Chrysler bankruptcy may be a foregone conclusion if it does happen in New York Times reporting. Taxpayers could wind up footing the bill for UAW members' pensions and retiree health care benefits. Later this afternoon however Jim Press of Chrysler said and told his dealers that -- bankruptcy necessarily would not. Be imminent. What -- Lansing mayor. Michigan mayor burger -- no he says well we gotta pick of the -- either way. And the mayor joins us now. Welcome merit of the program obviously Jim press's comments coming out later on in the day first off what do you heard about a possible Chrysler bankruptcy."

" Well Brian thanks is that I'm -- be here I know nothing more than you do but I do know that bankruptcy is a very risky option it's a very costly option and we said this from the beginning that were far better off supporting these companies and building these companies up and bringing production back putting the GDP gross domestic product keep Americans working that that's a much better option these -- millions of Americans that will be affected. Directly people working people -- related industries you know all of the industries around the automobile but also the retirees you know there is a covenant. There is a covenant for these retirees these senior citizens who don't deserve to have the rug pulled out. From out from beneath them one of -- was my dad you know 84 years old he -- that pension and there's millions like him who have earned pensions and those pensions should be."

" people listen you you you are correct okay. But at the same time there are people who work for companies Circuit City a lot of retailers who have gone under who get no protection. What makes Chrysler and UAW different than all the other Americans that are losing their job."

" Well look. -- my heart goes out to every worker and again we need to bring production back to this country we need a serious. Initiative and commitment to bringing manufacturing back to this country it's absolutely vital. To the economic health of this country but. Those pensions were -- and those pensions are guaranteed you know there's a federal agency that that that supports those pensions. And so we ought to be investing in these companies other countries are investing in Germany France they're investing in their countries even Toyota is going to their government asking for help. We should be investing in these companies so that we can build the leaner greener cars of the future and be productive you know my question right how we gonna pay off this stimulus you don't -- country pays off stimulus either they print money or they they expander GDP we've got to grow this economy we have to have manufacturing in this country we can't ship everything --"

" I -- I don't disagree with you at all because if you look at pay -- the average manufacturing -- 1950 the average retail -- about 1215 hour as 30% pay cut lot of people -- manufacturing. Going to -- the quality alive deteriorates it yes the issue at hand though. Is what's going to happen with Chrysler because were coming to that. Well there -- we we're we're looking at companies for GM Chrysler Ford of course has not taking government money that are. Losing money I mean -- results were were decent today in fact in that they burned less cash than they have been but -- still burning cash."

" And I know you've heard the argument we all have that that these companies are too big to fail I would say -- too important to fail they're too vital to our future to fail. The Chrysler investment in the past paid off those loans were pay back the American taxpayer it was a good investment and I suggested investing in these companies now. I know the numbers look dismal now but the fact is the auto industry is a very cyclical industry if it moves with the economy and right now we know that this is basically depression -- numbers for the auto industry. We need to -- could turn the economy around you know what about cash for clunkers I've heard a lot of talk about this -- countries have done it in Germany this off 40% increase we got to encourage."

" There's a bunch of there's the problem because the government for some weird reason refuses to do what it needs to do which is offering bigger tax credit to get people to buy cars stopped -- income limits on people -- get tax credits exactly like cars -- the demand side I agree against the my soapbox business today. -- demand side get people like cars we sell twelve million cars a year again in America. These companies -- financially viable -- 300% although I don't know if you'll -- my my point is it should be to buy American cars you know -- how do you find that -- you know -- Honda America my -- to my dad is GRC pick -- was -- Hamilton Ontario Canada might answer a court has made Marysville Ohio Anderson retired does the American."

" I understand the transplants are here but look at least if we say American at least that we -- have to be bought it made in America we can at least say that have to be made -- maybe maybe we -- have to open the -- of the -- red -- that's Mercedes but a lot of BMW did an article in VWE opened -- and -- and light and easier -- American workers at least they're employing Americans now -- true blue -- all American companies might -- retired from GM and we -- of course the great Cadillac CTS motor trend car of the year right -- I encourage Americans red blooded Americans to buy American. And I mean real American companies in cars that are designed manufactured and engineered here in this country we don't want to lose that engineering capacity and design capacity but you know we need the cash for clunkers and and you -- the other thing why would we give money to companies IC GM under this I see GM moving and other companies moving -- continuing this outsourcing would we give them money."

" It should be that you have to keep the production in this country in France they put strings on the money and said we'll give you this money to Renault but you have to move production to France and the president of France actually said when they accused of protectionism he said look I represented -- I'm here to protect French workers we need politicians in this country who will stand up for American workers."

" And you are representing Lansing very well there thank you very much we do if we do appreciate it we appreciate your passion -- so much does deserve it all right."