Comstock Park, MI (WZZM) - The decision to bail-out the automakers has brought a sigh a relief not just for General Motors and Chrysler, but also their suppliers. Many of which are here in West Michigan.
In Comstock Park managers at Commercial Tool and Die say the announcement means 135 jobs are safe; but they're still not jumping for joy.
Along with the humming and grinding of machines inside Commercial Tool and Die, you could also hear workers breathing a sigh of relief.
"This has been a long road, and this brings some closure and right before the holidays I think people are relieved," says Vice President Todd Finley.
Finley hopes Washington's bail-out can heal General Motors and Chrysler. "If it could lead to them being healthy, I think it's a wonderful thing," he says.
However, he's also hesitant; not thrilled with government involvement, much less tax dollars being used.
"I'm also concerned that potentially the automakers could use taxpayer dollars to buy tools offshore." General Motors C.E.O. Rick Wagoner says the Bush administration was strict with their demands.
Now both G.M. and Chrysler must meet them, or refund all the money.
"As difficult as it is it's an opportunity for us to really once and for all get the negatives sides of 100 years of history leveled up so we can look forward to the next 100 years without that burden of history we've had," Wagoner said in a news conference Friday morning.
One the largest hurdles automakers will need to overcome is wage concessions. But auto analyst Kim Korth says most of the U.A.W. negotiating is already done.
"I think the most difficult piece is probably going to be the willingness of the U.A.W. to take the G.M. stock instead of cash that's going to go into the funding of their pension," says Korth.
In the meantime, Todd and crew will continue tooling and dying, as 95% of his business is supplying the Big Three's suppliers.
"We're very concerned about the health of the industry since we're directly impacted by the health of the automakers," says Finley.
The one comment Wagoner, Korth and Finley all had in common is that the temporary future of Michigan's economy looks bright. It's what happens over the next several months that will determine our economy's fate.
In your voice
