congress watch

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Hearings on the Auto Industry and a Look at the Jobs Numbers

December 5th, 2008 by selise

Barney Frank’s Financial Services Committee will hold a follow up of yesterday’s Senate Banking Hearing with industry CEOs and the UAW, while the Joint Economic Committee will be meeting to review November employment numbers and developments in the labor market more generally.

9:30 amFinancial Services Committee
Hearing on "Review of Industry Plans to Stabilize the Financial Condition of the American Automobile Industry"

Live coverage at CSPAN (direct realplayer link) and the committee website.

For later viewing, the hearing will be posted in the CSPAN archive.


Panel 1:

  • G. Richard Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation
  • Robert Nardelli, Chief Executive Officer, Chrysler, LLC.
  • Alan Mulally, President and Chief Executive Officer, Ford Motor Company
  • Ron Gettelfinger, President, United Auto Workers

Panel 2:

  • Gene Dodaro, Acting Comptroller General, U.S. Government Accountability Office
  • Felix G. Rohatyn, FGR Associates, LLC
  • Edward Altman, Leonard N. Stern School of Business, New York University
  • David Friedman, Research Director, Clean Vehicles Program, Union of Concerned Scientists
  • Jeffrey D. Sachs, Director, The Earth Institute; Quetelet Professor of Sustainable Development and Professor of Health Policy and Management, Columbia University

From the Detroit Free Press:

Detroit automakers and the UAW made headway Thursday in their bid for government aid they say they need to survive, as key senators said they would consider approving at least some of the $34 billion the industry wants.

But the senators at the five-hour Senate Banking Committee hearing also made clear that any loans would come with strict conditions and might require that the carmakers prove by March 31 that they were making progress on their turnaround plans.

A few senators said bankruptcy should remain an option for General Motors Corp. or Chrysler LLC, but more said that letting the automakers fail would deepen the growing recession. Sen. Chris Dodd, D-Conn., who ran the hearing and would oversee any plan in the Senate, said that inaction "plays Russian roulette with the entire economy."

Also at 9:30 amJoint Economic Committee
Hearing to examine employment conditions in November of 2008

Live coverage at CSPAN (direct realplayer links: CSPAN-2, CSPAN-3).

For later viewing, the hearing will be posted in the CSPAN archive.

U.S. Senator Charles E. Schumer and Representative Carolyn B. Maloney, Chairman and Vice-Chair of the Joint Economic Committee (JEC) respectively, will hold a hearing on the newly released Bureau of Labor Statistics’ (BLS) monthly employment figures with Commissioner Keith Hall on… In the wake of ten straight months of job losses, Dr. Hall will assess the recent developments in the labor market.


  • Dr. Keith Hall, Commissioner, Bureau of Labor Statistics

x-posted at oxdown

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