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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Rep. Scott: Help Minority Auto Dealers, Too

Rep. David Scott (D-Ga.) just asked the heads of the three Detroit automakers to ask for federal help for their dealers -- specifically, minority dealers.

The heads of GM, Ford and Chrysler are testifying before the House Financial Services now, asking for $25 billion in loans so they can stay in business, they say.

Scott said that dealerships are being hit hard by the ongoing economic crisis because no one's buying cars. He noted that the ones being hit hardest, though he did not say why, are minority dealers.

He asked each of the three automakers to promise that they will ask President-elect Obama or the Small Business Association to "declare an ethnic minority disaster" and get loans from the SBA to stay in business.

The heads of the three automakers nodded in agreement that they would comply with Scott's request.

-- Frank Ahrens

The Ticker is Twittering!

By Frank Ahrens  |  November 19, 2008; 1:50 PM ET
Categories:  The Ticker  | Tags: Detroit bailout, automakers  
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Next: Big Three Automakers Get Send-Off Tongue-Lashing

Comments

Why not? Let's all belly up to the trough! The government's giving away money! We're all under economic stress!

Wait - where's the government getting all this money? That's right, our KIDS!

Oh well, lets stiff our kids.

What a crock. When will it stop.

Posted by: martintomsal | November 20, 2008 11:48 AM | Report abuse

The comments to this entry are closed.

 
 
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