United Auto Workers Runs Ad Telling Congress: Don't Let Us Down

December 5, 2008 11:26 a.m. EST

Washington, D.C. (AHN) - The United Automobile Workers (UAW) has begun running a TV ad in D.C. asking for Congress to give the auto industry the same assistance it extended to financial institutions.

The 30-second spot which was launched as Congress began two-day hearings on whether to provide emergency aid to automakers on Thursday, shows black-and-white still portraits of workers while an announcer says, "We're not bankers. We don't work on Wall Street or for big insurance companies. We build quality cars and trucks. But we've been hit by the same financial crisis."

"If we go out of business, so will thousands of other businesses. If we lose our jobs, so will millions of others... So Congress, If Wall Street can get help, so should Main Street. We work hard building fuel-efficient cars for our future. Don't let us down. We won't let America down," the announcer adds.

UAW President Ron Gettelfinger, who was testifying before the House Financial Services Committee on Friday together with Chrysler chairman and chief executive officer Robert Nardelli, Ford president and CEO Alan Mulally, and General Motors chairman and CEO Richard Wagoner, issued a statement along with the ad.

"Congress has to act. Three million jobs would be lost and thousands of small businesses will fail if Congress allows our auto industry to go under. Other auto producing countries, from Germany to Brazil and China, are supporting their auto industry at this critical time," he said.

On Thursday, Gettelfinger and auto industry executives faced tough questions during their testimony before the Senate Banking Committee, with Sen. Richard Shelby (R-AL), the ranking Republican in the panel, belittling their stabilization plans and asking them how they got to Washington for the hearing.

Two weeks ago, the Big Three CEOs used private jets to go to Washington and testify before the same committees. This time, they used fuel-efficient hybrids.

Chrysler and GM both indicated a willingness to renew merger negotiations if it would help them receive government assistance. All three CEOs have said they would make do with a $1 annual salary in exchange for emergency aid. All three automakers earlier this week submitted restructuring plans to the House and Senate panels costing $34 billion.

Democratic congressional leaders have sent a letter to President George W. Bush asking again that part of the $700 billion financial bailout package, also known as the Troubled Assets Relief Program (TARP), be used to help automakers.

"We have previously urged that $25 billion of the funds... can and should be used for emergency bridge loans for the domestic auto industry. The response from the Treasury to date has been that these funds should only be used to protect the U.S. financial sector. What is becoming clear, however, is that the failure of the Big 3 would indeed have a major direct and negative impact on the financial sector, not just on the economy as a whole," they said.

The TARP "was created specifically to stabilize the financial system from threats such as the imminent failure of large sectors of the automobile and related industries," they added.

The four Democrats cited testimony from Acting Comptroller General Gene Dodaro, who heads the Government Accountability Office (GAO), saying that the TARP gives the Treasury and the Federal Reserve the authority to provide assistance to automakers.

The GAO also released a report this week that said the the Bush administration had failed to properly monitor the use of the $700 billion bailout. It added that the administration must establish controls to ensure that financial institutions are complying with the requirements the program, such as limits to executive compensation.

Republicans have expressed little support for using the TARP to help the auto industry. Many have echoed the stance of the White House that the emergency aid should come from the $25 billion loan program at the Energy Department.