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Article: Auto bailout not an end-all cure Investors-conference participants get sobering forecast from manufacturers
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- November 13, 2008
- Author:
CopyrightCopyright 2008 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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A government bailout of the U.S. automotive industry is probably
coming but won't be enough to solve the industry's problems, Johnson
Controls Inc. executives said Wednesday.
"You still have to find a way to get consumers to buy vehicles,"
Johnson Controls chairman and CEO Steve Roell said at an investors
conference sponsored by Robert W. Baird & Co.
Congressional Democrats are pushing legislation to send $25
billion in emergency loans to the beleaguered Big Three car
companies.
House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader
Harry Reid (D-Nev.) hope for quick passage of the auto bailout
during a postelection session that begins Monday.
The industry is buckling under tight ...