INDIANAPOLIS (WISH) - Democratic Congressional leaders said they will wait untilDecember to vote on a relief package for the auto industry.
House Speaker Nancy Pelosi and Senate Majority Leader HarryReid said the big three need to come up with a plan to show howfederal money will make them financially viable.
Many Republicans believe that plan should include bigconcessions, such as cuts in pay and benefits.
In an op-ed piece in Thursday's Indianapolis Star, SenatorLugar writes "Success today will require that all parties,management, workers, creditors, and shareholders make concessions."
Concessions like cuts to pay and benefits. FormerMassachusetts Governor Mitt Romney takes it a step further.
"There's no question that if you just write a check, thatyou're going to see these companies go out of business ultimatelyinstead we have to help these companies restructure," said Romney.
And Romney believes bankruptcy is the way to do that. Thedean of Butler's Business School agrees.
"Would a banker approve a no strings low interest loan to theauto industry at this point? Probably not," said Chuck Williams,Dean of Butler's Business School.
When asked if bankruptcy is the answer for the big three?
Chuck said, "In the long-run I think it could be the bestthing but I'm also sensitive to the challenges this presents toworkers."
And while he believes workers pay should be slashed. He saidcuts should start at the top with executive pay, perks, and privatejets. The same jets the big three CEO's used to fly to Washingtonto ask for money.
He said ultimately unless you produce a cheaper, morereliable, more innovative product, people are going to continue tobuy Japanese or German made products.
A winter storm warning is in effect for most of Central Indiana.
It's very rare that a single person can reach across national, racial, and spiritual borders to bring such hope and healing.
Dispatchers with Indiana State Police say a vehicle left the roadway Thursday night off of Interstate 69.