JIM LEHRER: The United Auto Workers agreed to concessions today to help save the big three carmakers. Union leaders held an emergency meeting in Detroit, and afterward they said they'd let the companies delay billions of dollars in payments to a retiree health program.
They agreed to suspend a jobs bank that pays laid-off workers up to 95 percent of their salaries. And the union said it will accept unspecified changes in its overall contract.
UAW President Ron Gettelfinger would not say if wage cuts are coming, but he conceded workers are in a crunch.
RON GETTELFINGER, United Auto Workers President: Being honest, we've been saying for a long time, we're in a race to the bottom, a race to the bottom that workers in no country can win, because there's always somebody else or somewhere else to go that pays less.
But the word "concessions," I used to cringe at that word, but now, why hide from it? That's what we did.
JIM LEHRER: The UAW is hoping to boost the big three's latest bid for billions of dollars in federal aid.
Today in Chicago, President-elect Obama said it appears the companies now have a more serious set of plans.
BARACK OBAMA, President-elect of the United States: I'm glad that they recognize the expectations of Congress, certainly my expectations, that we should maintain a viable auto industry, but we should also make sure that any government assistance that's provided is designed for a -- is based on realistic assessments of what the auto market is going to be.
JIM LEHRER: In another development, a top Chrysler executive warned the collapse of any of the big three could bring on a depression. We'll have more on this story, including an interview with the head of Ford, right after the news summary.
The president-elect moved to round out his economic team today. Mr. Obama announced he'll nominate Gov. Bill Richardson of New Mexico as commerce secretary. Richardson served as energy secretary and U.N. ambassador in the Clinton administration. We'll have more on this story later in the program tonight.
Wall Street rallied again today as investors looked past weak economic data. The Dow Jones Industrial Average gained 172 points to close at 8,591. The Nasdaq rose 42 points to close at 1,492. The rally came despite findings by the Federal Reserve that conditions are worsening nationwide.
Indian police found a pair of bombs in the main train station in Mumbai today and quickly defused them. They were leftovers from the attacks that killed more than 170 people in the city once known as Bombay.
Meanwhile, the investigation continued. The Indian foreign minister said, "There is no doubt the terrorist attacks were perpetrated by individuals who came from Pakistan and whose controllers are in Pakistan."
He spoke at a news conference with U.S. Secretary of State Rice. She, in turn, demanded Pakistan cooperate fully.
CONDOLEEZZA RICE, U.S. Secretary of State: I have said that Pakistan needs to act with resolve and urgency and cooperate fully and transparently. That message has been delivered and will be delivered to Pakistan, but it is a time when cooperation between all peoples who suffer these terrorist attacks really is required.
JIM LEHRER: The chairman of the U.S. Joint Chiefs of Staff, Admiral Mullen, was in Pakistan today. He urged authorities to investigate all possible links and broaden a crackdown on militants. We'll have more on the aftermath of the Mumbai attacks later in the program.
Afghanistan joined dozens of nations signing a treaty today that bans cluster bombs. The weapons are scattered over wide areas and often accidentally injure or kill civilians.
The United States, China, and Russia refused to sign the treaty. They said cluster bombs still have legitimate military uses.
A weapon of mass destruction will likely be used in a terrorist attack somewhere in the world by 2013; that warning came today from a bipartisan commission established by Congress.
After six months of study, the group concluded America's margin of safety is shrinking, not growing. A co-chairman, former Sen. Bob Graham, said a biological attack is more likely than a nuclear strike.
FORMER SEN. BOB GRAHAM (D), FLORIDA: In many areas, we have improved the security of the nation. However, while that has been occurring, there have also been changes in the environment in which we are operating, particularly as it relates to biological weapons, which have made them more accessible to potential terrorists.
JIM LEHRER: The commission made a series of recommendations, including tighter security at labs that work with lethal germs.
Republicans have held a Senate seat in Georgia, and thus denied Democrats a super-majority. Sen. Saxby Chambliss won re-election in a runoff on Tuesday. That outcome means Democrats cannot get to 60 seats, the number needed to break a filibuster.
There was sobering news about the cost of college in the U.S. today. An independent report found tuition and fees increased more than twice as fast as family income between 1982 and 2007. The National Center for Public Policy and Higher Education also said only California passed its college affordability test. That's based on how much of an average family's income goes to tuition.
Folk singer Odetta died Tuesday of heart disease. She was a civil rights icon with a booming voice. She performed at the march on Washington in 1963 and influenced Bob Dylan and other popular musicians of the 1960s. Odetta had hoped to sing at President-elect Obama's inauguration. We'll have more on her life and music at the end of program tonight.
