GM chief asks employees to support bailout

General Motors Corp. Chairman and CEO Rick Wagoner urged employees by e-mail yesterday to contact their Congressional representatives to vote in favor of a federal bailout of the nation’s financial systems.

“The current financial crisis goes far beyond any one industry," Wagoner wrote. “With each passing day without a solution, the credit markets continue to freeze up, denying consumers and businesses the needed cash for home loans, car loans, small business loans and the critical investments that grow the economy and create jobs."

Wagoner asked employees to express support for the action to Congressional officials on the same day that the U.S. auto industry reported its worst sales month in 15 years as consumer traffic to dealer showrooms dried up.

“Congress is hearing from those who oppose a bailout, but not from those who know that inaction poses dire and long-lasting consequences for our national economy," Wagoner wrote. “Please make this issue your highest priority and call your respective Representative and Senators today. Your voice needs to be heard and it will make a difference."