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NAM Supports Financial Bailout

Group of 13 National Association of Manufacturers Directors met with Bush to express concerns about the economy and their conviction that the bailout is necessary to prevent a recession.

WASHINGTON -- A group of 13 Directors of the National Association of Manufacturers met with President Bush to express concerns about the economy and their conviction that the financial bailout is necessary to prevent the economy from dipping into recession.

"The manufacturers of America are speaking with one voice about this," said NAM President John Engler. "The credit markets are in turmoil. Even healthy companies with solid balance sheets and order backlogs cannot obtain the routine financing they need to meet payroll and expand productive capacity. Congress needs to send this measure to the President’s desk. This is not about Wall Street, this is about Main Street."

Engler added that the manufacturers group was disappointed by the House vote against the bailout on Monday and is working to persuade legislators to reconsider.

The manufacturers involved in the meeting include: Power Curbers, Inc., Vermeer Corporation, Technical Materials, Inc., Carter Products, Inc., Pine Hall Brick Company, Inc., Bison Gear & Engineering Corporation, Click Bond, Inc., Cummins, Inc., ACE Clearwater Enterprises, Marlin Steel Wire Products, Llc, Quality Float Works, Compass Minerals International and Phoenix Closures, Inc.

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