Majority oppose more automaker loans

DETROIT, Feb. 18 (UPI) -- A phone survey found that a majority of likely voters indicated they would oppose additional government loans to U.S automakers.

In the Rasmussen Reports survey of 1,000 likely voters, 64 percent indicated they opposed giving Chrysler LLC and General Motors Corp. additional funds to stave off bankruptcy, the Detroit Free Press reported Wednesday.

In handing in financial viability plans Tuesday, the companies have asked for an additional $21.6 billion in loans on top of $17.4 billion the companies have received.

Financial viability hinges on concessions from stakeholders. The United Auto Workers said it had reached non-binding agreements with U.S. automakers to align labor costs more with foreign car companies.

The union, however, wouldn't discuss details, The Detroit News reported.

"The changes will help these companies face the extraordinarily difficult economic climate in which they operate," UAW President Ron Gettelfinger said in a statement. Gettelfinger said the union was continuing discussions over healthcare funds.

One item unchanged in the agreements was wages, a source close to the negotiations with Chrysler LLC and Ford Motor Co. said.

However, the $28-an-hour average wage at the auto companies is being diluted by new hires, who start at $14 an hour, the News said.