No quick help for U.S. auto companies

The big three U.S. carmakers call for government grants totaling 25 billion U.S. dollars to the companies before the rescue. General Motors, Ford and Chrysler but can not quickly calculate state aid.

Minister of Finance Henry Paulson rejects a portion of the 700-billion-dollar package for the banks to the car companies abzuzweigen. Even in Congress was loud reservations."Our industry needs a bridge to the financial chasm to bridge, which opened before us," said General Motors Chief Executive Rick Wagoner before the Senate Banking Committee. GM and Chrysler have to fear for survival. Ford CEO Mulally on the other hand, stressed that his group only on money the government would fall back if the conditions for his group significantly deteriorate.

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Wagoner did not own management mistakes, but the financial crisis on the poor situation responsible. A collapse of the industry would be the loss of three million jobs mean, warned the head of Opel's parent company.

Chrysler is according to its own data before the precipice, if he does not receive state financial syringe. CEO Robert Nardelli said before the committee, Chrysler had a month four to five billion dollars in costs for wages and salaries, to pay the bills from suppliers and others.

If Chrysler insolvency request would be the cost of a restructuring greater than the expenditure incurred by the state for a bridging help pay must continue Nardelli said. And it was not certain that Chrysler after a bankruptcy could continue to exist.

Senators look to manager salaries

Both managers agreed to demands from senators that they were willing to pay for a waiver to consider their readiness to sacrifice to make. The Democratic committee chairman Christopher Dodd said the manager, their industry looking for a "treatment for largely self-inflicted wounds."

Republican Senator Mike Enzi criticized the financial crisis was "not the only reason why the domestic automobile industry is in trouble." He called inefficient production structures and costly collective agreements.

The Democrats want a bill, that car manufacturers and their suppliers 25 billion U.S. dollars from the rescue package for the financial industry should receive. In return, the managers bonus payments should be deleted.

Behind the scenes, negotiations on a compromise solution to the automotive corporations before the end of a discharge should be comparable. The outlook in Washington, but were skeptical evaluated. "My feeling is that this week nothing will happen," said Republican Senator Bob Corker.

Democrats and Republicans divided over aid

Opel parent General Motors, Ford and Chrysler are in a threatening situation. The "Big Three" suffer most under the shrinking U.S. market. They have traditionally mainly SUVs and pick-ups manufactured since Spritschluckern with the highest profit margin was achieved. Because many U.S. citizens now switch to more economical models, they are increasingly losing market share.

Democrats and Republicans are about how the car helped farmers to be deeply divided. The Democrats Caboni with a legislative proposal that the groups 25 billion from 700 billion U.S. dollars serious aid package for the financial industry should provide.

Accordingly, the domestic auto industry and its suppliers favorable loans with seven to ten years will receive. In return, the government will share warrants. In addition, the carmaker plans to restructure and present executives of the payment caps. For managers with an annual income of more than 250,000 U.S. dollars will account for the bonus.

The White House, however, is against the proposal by the Democrats, the 700-billion package for the "Big Three" to make accessible. Minister of Finance Henry Paulson made before the Banking Committee shows that even in the rescue package for the financial sector contained 410 billion neither for nor an economic program for further monetary injections, for example, the auto companies, will be used.

President George Bush wants instead that the car companies have a free an already approved loan package of 25 billion available to them, actually for the development of economical cars is thought. The newly elected President Barack Obama has become clear support for the auto industry pronounced.