Thursday, January 15, 2009

Bob Corker goes to the North American International Car Show

Paul Sancya/Associated Press
U.S. Sen. Bob Corker, R-Tenn., sits in the Cadillac Converj concept as GM Vice President of Global Design Ed Welburn looks on at the North American International Auto Show in Detroit on Tuesday. The Converj contains the same hybrid powertrain as the Chevrolet Volt.

U.S. Sen. Bob Corker said Tuesday he doesn't regret voting against a bailout for General Motors Corp. and Chrysler LLC last month because he and other Republicans had a plan to help the carmakers succeed.

Corker met with GM officials at the North American International Auto Show, where he looked at the models the automaker says are key to its future health now that the Treasury Department has allocated $13.4 billion in loans to keep the company alive.

The Tennessee Republican said he was "impressed" with the Chevrolet Volt electric car, which is due in showrooms next year.

"Being here makes me even more committed to working to make sure these companies change their capital structure to get these products to market," he said.

Corker said it's too early to tell whether the aid granted to GM, along with $4 billion to Chrysler, is enough to keep the companies from failing later.

Read the entire story HERE.

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