With the economy sputtering, attention is now shifting to struggling U.S. automakers who are asking for a bailout
With U.S. automakers like GM reporting they will run out of money next year and Ford and Chrysler also reporting loses it seems the auto industry may be next in line for some help from the Treasury.
BMW may join them. Bloomberg reports the German car-maker is asking for help from a bailout plan in Germany and it may ask for more help from the U.S.
With many Upstate workers employed at the German auto-maker’s plant in South Carolina, we asked officials who worked with Sen. Lindsey Graham how he felt about the issue.
Kevin Bishop, of Graham’s staff, told us the senator has serious reservations about any bailout plan.
Officials with Graham’s office couldn’t say what provisions were being made for foreign automakers on American soil.
Graham, who said he isn’t totally opposed to a bailout, would need to see what was on the table before he could make any statements.
While BMW is already laying off hundreds of workers, officials with the company here in the Upstate spoke with News Channel 7 Reporters on Wednesday with reassuring words.
Bobby Hitt, who works with the company in South Carolina, said right now they don’t have anything to say about a bailout because there are too many unknowns.
He did say that BMW will be in the Upstate and the company is still on course to build an expansion.
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