Chrysler President Meets Congress for $25B Loan
It all started one week ago when General Motors sent a letter to approximately 29,000 employees, asking them to get in touch with senators and them to support the affected carmakers. “This level of economic devastation far exceeds the $25 billion of government support that our industry needs to bridge this current period. Today, I want you to take the time to contact your members of Congress to ask them to support America's domestic auto industry,” the letter read.
On the other hand, Chrysler tried a different strategy, publishing a video revealing a bunch of figures concerning the automotive industry and America's economy. No less than 4.5 million citizens are employed by US carmakers, the video said, with 13 billion dollars offered in pension benefits. “If those jobs go away, it would be equivalent to putting the entire populations of South Carolina, Kentucky or Louisiana out of work,” Chrysler stated in the video. “Almost a quarter million people pick up their paychecks from Chrysler, Ford and General Motors. That's a total payroll of $22.2 billion.”
General Motors also rolled out a video over the weekend, plus a separate new website which calls citizens to support its cause and contact legislators. “The credit crisis that is affecting us all is wounding the U.S. auto industry in many different ways. Carmakers can’t get loans to restructure and to produce new advanced technology vehicles. Suppliers and dealers can’t get loans for routine business, and customers can’t get loans for new cars,” GM explained on the newly-launched website.