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Bush to Meet with Auto Industry Leaders

By Joe Benton
ConsumerAffairs.com

October 25, 2006

• GMAC Changing Name to Ally Bank • New Car Sales Show Improvement From May • April Dismal For U.S. And Foreign Carmakers • Chrysler Files for Bankruptcy, GMAC Takes Over Financing • Auto Sales Stagnant, But Hope Appears • What Would a Chrysler Bankruptcy Mean For You? • U.S. Carmakers Getting More Federal Aid • GM Cuts More Jobs, Eyes China • New Car Sales Plunge in February • Car Buyers Seeking Higher Fuel Economy • Video: Do Women Really Hate Car Shopping? • GM Plans New Minicar, Electric Cadillac • GMAC Becomes a Bank • White House to Loan Carmakers $17.4 Billion • Chrysler Closing Car Plants for 30 Days • What Would a Washington-Designed Car Industry Look Like? • States Want Stronger Used Car Rule • Industry Troubles Cloud LA Car Show • Carmakers Get Neither Love Nor Money From Congress • Taxpayers Headed For Automotive Bailout • Time May Be Running Short for U.S. Carmakers • Feds Move Closer to Carmaker Bailout • New-Vehicle Buyers Turn to the Web in Record Numbers --- • More about Auto Sales ...

President Bush has finally agreed to meet with the CEOs of General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's Chrysler Group after more than six months of delays.

The White House has not announced a specific time for the meeting but auto industry officials suggest it would likely be November 14.

The auto industry leaders want to discuss health care costs, alternative energy and trade. The auto companies have insisted they aren't seeking a bailout.

Delays for a meeting, initially set for May have become an election-year issue in Michigan as Democrats criticize Bush for paying too little attention to the struggling U.S. auto industry.

The Big Three spend more than $10 billion annually on health care costs. GM and Ford have a nearly $100 billion accumulated health care liability.

GM is the largest private provider of health care in the United States, spending $5.3 billion to cover 1.1 million people in 2005. The company expects its health care costs to rise to $7.4 billion by 2009.

Ford spent $3.5 billion last year to cover 590,000 people, including employees, retirees and dependents. Its health care costs have climbed 67 percent since 2000 and the company now spends $1,100 per vehicle on health care.

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