Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Win Smith who wrote (116067)	7/21/2009 4:31:58 PM
From: Bearcatbob	Read Replies (2) \| Respond to of 541941

Yup - Gestapo like! An offer they could not refuse? briefingroom.thehill.com June 4, 2009 Barney Frank convinces GM CEO to keep his district's plant open @ 4:01 pm by Michael O'Brien Rep Barney Frank (D-Mass.) won a stay of execution on Thursday for a General Motors plant in his district that the automaker had announced it would close. No other lawmaker has managed to halt the GM ax. As chairman of the House Financial Services Committee Frank oversees the government's bailout program, known as TARP. Frank's staff said the lawmaker spokes with GM CEO Fritz Henderson on Wednesday and convinced him to keep the Norton, Mass. plant open for at least 14 months. GM announced Monday in its bankruptcy and restructuring plans it would close of nine of its plants and idle three others. The automaker said it would also shutter three service and parts operations by the end of the year — one of which is in Frank's district. "I greatly appreciate General Motors' willingness to take into consideration the wider needs of the company and especially the community," Frank said in a statement. "Keeping the facility open for this extra time gives workers a chance to look at other opportunities, while at the same time continuing to provide for their families." Frank said that an improving economy could improve the prospects for GM and its employees, hinting that an uptick in auto sales could keep the Norton plant open longer.