News

Big Three Pushing for Loans at Political Conventions

This year’s political conventions are taking place in Denver, Colo., and St. Paul, Minn., but domestic automakers are trying to make sure it is Detroit that gets the attention it needs from politicians.

Lobbyists from GM, Chrysler, and Ford are pushing politicians at the Democratic and Republican National Conventions to help finance the automakers’ shift to green vehicles.

Democratic candidate Sen. Barack Obama has said he supports giving $50 million in direct loans to the automakers, while Sen. John McCain has pledged $25 million.

The intense efforts will continue after the conventions, as lobbyists from all of the Big Three will be headed to Washington in September to push for the aid. The CEOs of each company might be there as well for a joint meeting with Congress.

Source: Detroit News

Comments