Gov. Granholm to Bush: Thanks for your help

'The clock is ticking, automakers are drowning,' she said. But the governor said the state is bracing for more auto industry downsizing even if the loan is forthcoming. 'When the bailout loan flies, there will be additional layoffs,' Granholm said. She also said she's doing her part to help the domestic automakers. She bought 300 shares of stock of a Detroit-based carmaker for her three children for Christmas, she said. And the state will advance order 1,600 cars for its motor fleet for 2009 by the end of this year to immediately boost sales of American cars. An order for 500 cars already has been made, state officials said. Granholm expressed 'deep frustration' and 'shock' that some members of Congress who have foreign auto plants in their states voted against the bailout to gain a regional advantage. She stopped just short of calling the 'no' voters un-American. 'It's very disturbing to me that having a strong manufacturing base in the United States seemed to mean nothing to some of those who say they are patriotic Americans,' the governor said. Those with foreign auto plants in their states who believe there is an edge to be won by hurting the American companies 'have a misunderstanding about the supply chain,' Granholm said. She added that some senators who voted against the bailout did so to punish the UAW. 'In Michigan, we are going to be alright,' Granholm said several times during the press conference The White House issued a statement today calling the failure of Congress to pass legislation to assist the troubled automakers disappointing. The Bush administration said it will consider other options if necessary -- including use of the Troubled Asset Relief Program (TARP) -- to prevent a collapse of General Motors and Chrysler. Granholm said she has written to Bush, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke extending her thanks for their recent effort to develop compromise legislation that would provide bridge loans to U.S. automakers. She said she's grateful they'll consider using funds from the TARP and urged them to act immediately to prevent further job loss and deterioration of American financial markets. 'As you know, both General Motors and Chrysler could fall into bankruptcy before the end of this year unless financial assistance is forthcoming,' Granholm wrote. 'If loans are not made to these companies immediately, up to three million American jobs could be lost in the first year alone. 'The auto industry is the backbone of American manufacturing, and the ripple effects of bankruptcy would touch all sectors of the economy. It is imperative that the administration not allow collapse of a core industry that directly employs or supports millions of jobs across the United States.' Fifteen members of Michigan's congressional delegation also wrote to Bush, Bernanke and Paulson urging the use of TARP loan money to help automakers. The demise of one or more auto companies, they wrote, 'will plunge our nation further into recession, add hundreds of thousands to the employment rolls in a matter of weeks and deliver a crippling blow to the manufacturing sector from which it may never recover. 'Other nations are acting to assist their automotive industries and the U.S. must do the same,' the letter said. You can reach Gary Heinlein at (517)371-3660 or gheinleindteom.

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