Two weeks after their first try to convince Congress of the need for billions in emergency aid, the chief executives of the Big Three automakers are back to try again, this time asking for $34 billion from Uncle Sam.
I have no idea whether this is going to fly with the Congress. With so many lawmakers out of Washington, D.C., it means most of them are talking with their constituents more than they are talking to each other.
Which probably means - outside of Ohio, Indiana and Michigan - that they are being told not to give those dadgum companies any money.
The hearing though will focus on more than just the executives from General Motors, Chrysler and Ford.
The Senate Banking Committee will first get a report on the financial plans handed over by the auto giants earlier this week.
They will hear from the head of the UAW again, as well as an economist, a car parts manufacturer and a state car dealers group.
But let's face it. The stuff everyone wants to see is whether the Big Three will get down on their knees and do The Big Grovel.
Initially, the Big Three wanted $25 billion in aid. Two weeks ago, they almost choked on their tongues rather than actually admit in an open hearing how much each company wanted in financial assistance.
Now GM says it needs $12 billion in loans by March - with $4 billion of that this month. GM also wants a $6 billion line of credit.
Chrysler wants $7 billion in loans this month.
(Can you say "cash shortage?")
Ford doesn't want any loans, but they do want a $9 billion line of credit, though they say they do not plan to tap it.
My father, the former lobbyist for Ford Motor Company, went down to see his ole lobbying buddies the other day at one of DC's best super-secret Capitol Hill lunch joints that's a haven for lobbyists and lawmakers.
Instead of shooting the bull about The Good Old Days, he said he spent most of his time defending the Big Three.
"I saw Sen. Ted Stevens in there," he told me at lunch yesterday in another local knowledge Capitol Hill joint that's on the opposite side of the Capitol from the other super-secret place he'd been at the day before.
"I got out of his way," he said of the convicted Senator, who is known for his bad temper.
Who else was in there having lunch? Sen. Larry Craig, he of the "wide stance" in the Minneapolis airport bathroom.
My father then related some funny one-liners from his buddies about the Idaho Republican that made my mother's hair curl.
I had some good lunches at that place back in the day when a certain wide eyed kid was rubbing shoulders with some of the big honchos in the lawmaker and lobbying world.
Yes, those were the good ole days, when Dad was lobbying against air bags and seat belts, against catalytic converters, higher fuel mileage standards and more.
I can almost hear his response while reading this.
"Shut up, you creepy kid."
We'll see what response Senators have today to the car makers of 2008.
About the Author
The Latest
Featured
