Congressional plan could help Janesville auto workers
A $25 billion loan package for the auto industry, approved by Congress, will help the entire industry, and might even be a bargaining point in negotiations to keep the Janesville General Motors plant open.
United Auto Workers Local 95 President Andy Richardson says the plan gives a lot of optimism to workers. He also says it may provide another angle for the team trying to convince GM to stay in Janesville, when they hopefully have another meeting with the corporation. The loan is intended to retool factories and develop technology to manufacture more fuel efficient vehicles.
Analysts say the plan comes at a time the financial market slump could inhibit the auto industry from finding credit to remain competitive.