Rep. Fudge Comments on General Motors Bankruptcy
June 15, 2009 by mlfudge
Filed under Words from Marcia
“General Motor’s announcement of bankruptcy is both disheartening and encouraging. It is disheartening as the announcement marks the end of an era for America’s automotive industry, but encouraging because with a well-managed process GM could swiftly emerge from bankruptcy to thrive once again.
“GM’s President and CEO, Fritz Henderson, pledged the company would be transparent in its corporate modifications. To best protect GM employees and their families, I hope GM publishes its plant and dealer closings and modifications in a timely and thorough manner. GM should provide its employees with a clear, real-time understanding of the company’s decisions during the restructuring period.
“I acknowledge the difficult concessions union leaders and members made during discussions leading up to the bankruptcy filing. As President Obama said, this is an ‘unfortunate sacrifice’ that predicates many others. However, it is my sincerest hope and belief that GM will emerge from bankruptcy with greater economic viability and corporate sustainability.”
Fudge Issues Statement on Closing of Cleveland Distributer
Today Rep. Marcia Fudge (D-OH) made the following statement upon the announcement that longstanding Cleveland food distributor A. LoPresti & Sons is closing.
“I am deeply saddened by the closing of A. LoPresti & Sons. The business has been a cornerstone of the community for generations and employed over 70 hard working Ohioans. A. LoPresti & Sons distributed more than quality food. It provided economic security to their employees, pinnacle products to their customers and honor to their family.
“As Congress moves forward to remedy the recession, we must renew our commitment to small businesses. Specifically, I stand firm behind efforts that further opens the credit market and increases the number of low cost loans,” said Rep. Marcia Fudge (D-OH).
