Auto bailout

WASHINGTON (AP) - The head of the United Auto Workers is warning Congress not to let the Big Three go under. Ron Gettelfinger says the $25 billion they want would be a
bridge loan, not a bailout. He says the nation “cannot afford to see these companies fail.“

Getterfinger told CNN’s “Late Edition” that the UAW is willing to consider more concessions, as long as others share in the sacrifice. But he says he thinks they’re already competitive because of givebacks negotiated earlier.

General Motors, Ford, and Chrysler are supposed to offer a recovery plan to Congress Tuesday. Hearings are scheduled later in the week, and Congress may reconvene next week to consider a bailout if lawmakers like what they see.

Members of Congress remain deeply divided on the aid.

        (Copyright 2008 by The Associated Press.  All Rights Reserved.)