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Eyes On Washington As Legislators Consider Auto Industry Loan

Last updated on Friday, November 21, 2008

(KOKOMO) - Several Indiana communities are keeping an eye on Washington as legislators consider the request of a $25 billion loan to the US Auto industry.

Kokomo Mayor Greg Goodnight says his city would be impacted greatly with 5000 employed by Chrysler and 3100 employed by Delphi Automotive Systems.

Goodnight says that while bankruptcy can be a new beginning for some, he's not sure if it would be good for the auto industry considering all of the employees, subcontractors, and suppliers that would potentially be effected.

Delphi, as a major supplier for General Motors, is actually in its 4th year of bankruptcy re-organization and may not survive a GM bankruptcy.

The Kokomo mayor says he personally supports a government loan or bailout plan, but believes it should come with stiff stipulations so another bailout request isn't needed again.

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