"Reacting to Automotive Rescue Plan" - WOWK-TV
Story by Sara Gavin
As President of the West Virginia Automobile and Truck Dealers Association, Ruth Lemmon is celebrating now that President Bush has granted a holiday wish for General Motors and Chrysler.
"This is one of the best Christmas presents I could've had - it really is," said Lemmon.
The two automakers will receive a more than 13-billion-dollar loan to help save the struggling industry. "On a more local level, it's going to reassure consumers that there is going to be a factory, there is going to be a manufacturer, there will be parts, support for warranties," said Lemmon.
Auto dealers weren't the only ones breathing a sigh of relief once word of the rescue plan trickled down from Washington to West Virginia. Matt Ballard, President of the Charleston Area Alliance says a collapse of any of the big three domestic car companies would have hit West Virginia hard - especially in the Kanawha Valley. "I think we have about 2,000 families, 2,000 people employed in just the auto supplier market in just Kanawha and Putnam Counties so this was a very big deal for us," said Ballard.
GM and Chrysler have until the end of March to prove their companies have a stable financial future or they will be forced to repay taxpayers' money. For now at least, many mountain state auto dealers and business leaders are hopeful the bailout will bring a brighter outlook in the new year.
Click here to view the segment.
"This is one of the best Christmas presents I could've had - it really is," said Lemmon.
The two automakers will receive a more than 13-billion-dollar loan to help save the struggling industry. "On a more local level, it's going to reassure consumers that there is going to be a factory, there is going to be a manufacturer, there will be parts, support for warranties," said Lemmon.
Auto dealers weren't the only ones breathing a sigh of relief once word of the rescue plan trickled down from Washington to West Virginia. Matt Ballard, President of the Charleston Area Alliance says a collapse of any of the big three domestic car companies would have hit West Virginia hard - especially in the Kanawha Valley. "I think we have about 2,000 families, 2,000 people employed in just the auto supplier market in just Kanawha and Putnam Counties so this was a very big deal for us," said Ballard.
GM and Chrysler have until the end of March to prove their companies have a stable financial future or they will be forced to repay taxpayers' money. For now at least, many mountain state auto dealers and business leaders are hopeful the bailout will bring a brighter outlook in the new year.
Click here to view the segment.
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