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Member Since: 7/2006Last Seen: 11/25/2009

Union concessions may improve prospects for auto bailout

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WASHINGTON — On the eve of congressional hearings, union leaders agreed to concessions on Wednesday, removing a roadblock to a proposed rescue of the U.S. auto industry as Congress weighs whether to give carmakers $34 billion in emergency aid or allow them to face bankruptcy.

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The concessions are designed to show wary lawmakers that labor is a willing partner in what amounts to a taxpayer-financed effort to help one or more of the Big Three avoid a bankruptcy that would send shockwaves across an economy already battered by recession.

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    Reply#1 - Wed Dec 3, 2008 7:07 PM EST
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