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Team coverageAs Congress considers billions to bailout the Big Three, thousands of people in Utah are hoping for a quick solution.
Dealership sales in this state make up more than 16 percent of the state's total retail sales. That's a big economic chunk, and a big group of people hoping for financial help.
The problem is, those asking for help have to convince Congress and the public that it's worth it. "It's important to everyone," said Jerry Seiner, president of Jerry Seiner Dealerships.
The $34 million in loans General Motors, Ford and Chrysler are asking for would not only provide an economic lifeline nationwide, but here at home. "We need to make sure in the automotive industry, and here in Utah, that we just don't lose more jobs," Seiner said.
There are more than 150 new-vehicle dealerships across the state. They employ about 9,300 people. All are watching anxiously as CEOs of the Big Three continue to plead for help on Capitol Hill.
"We're here today because we made mistakes, which we're learning from," General Motors CEO Rick Wagoner told lawmakers.
Lawmakers were informed that without a loan, General Motors could go bankrupt by the end of the month. But there is still concern that a federal rescue package may not be enough.
"I don't trust the car company's leadership. I worry that if they're left on their own, they'll be back a short time later asking for more," New York Sen. Chuck Shumerd said.
The general public has yet to be sold as well. "I just wonder where we're going to get the money to give it to them?" Patrice Tolboe told us.
In a recent CNN poll, 61 percent of Americans oppose the bailout. Here in Utah, many people we spoke to agree.
"I'm mildly opposed. I'm afraid the auto companies don't have a business plan that will work," Scott Barry said.
Rand Tolboe told us, "I think that the United States bailing out any company that has been mismanaged is a mistake."
Brent Brown of Brent Brown Automotive Group in Utah County says whether or not Congress bails out the American automakers, the industry locally is hurting.
"Most dealers have already had to do pretty significant layoffs," Brown said.
He says if some types of vehicles are no longer made, most dealers can adjust, but the key is consumer confidence. "My guess is that you're gonna be a little bit nervous about making that purchase until you see the dust settle on this issue," Brown said.
He says consumers might start buying cars again if the bailout money can help keep the automakers stable. And with sales of new vehicles generating $6 billion a year in Utah, auto dealers say bankruptcy for any one of the Big Three would mean immediate job losses. They argue the government must act soon. "We just have to get past this as soon as possible for everybody's sake," Seiner said.
Congress is also feeling a sense of urgency on this decision. Today, General Motors announced about 2,000 more factory workers will be laid off.
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