In his role as business owner, Chairman of the Illinois Manufacturers' Association (IMA) and a Director of the National Association of Manufacturers (NAM), Ron Bullock and 12 other business leaders met with President George W. Bush at the White House last week to personally discuss the state of the economy and the vital importance of the passage of the Economic Rescue Package by the House.

Bullock, owner and Chairman of gearmotor manufacturer Bison Gear & Engineering Corp., expressed concern for how tightening credit markets affect not only the ability of his customers to buy Bison products they incorporate into the equipment they build, but also how his customers' customers were finding it difficult to finance the new equipment, in addition to the difficulties Bison Gear might face in its growth plans and the security of its 275 employees.

"At Bison Gear, we always put lubrication in our gearboxes -- otherwise, gears would seize and stop working," said Bullock. "Capital and credit are lubrication for the financial markets, and we need to get them smoothly flowing again."

"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," said NAM President John Engler.

In thanking the job creators who came to the White House, President Bush said, "... the bill that's before the House of Representatives … is a bill that has got the best chance of providing liquidity, providing credit, providing money so small businesses and medium-sized businesses can function." The President added, "And I want to thank you all for going up and telling these members of Congress what's on your mind and how this affects your businesses at home, and how it affects the communities in which you live. This thing -- this issue has gone way beyond New York and Wall Street."

Bullock was joined at the Whitehouse by IMA Board Member Bert Miller, president of Naperville-based Phoenix Closures and by Sandra Westlund-Deenihan, president of IMA member company Quality Float Works of Schaumburg.

The U.S. House passed the economic rescue package on Friday. President Bush signed the measure, designed to stabilize the nation's financial community, into law just hours thereafter.

More IMA News