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By a 298-119 vote, the U.S. House of Representatives has approved legislation which would provide up to $4 billion in cash vouchers for Americans who buy more efficient cars and trucks. The plan, which offers up to $4,500 for trading in a gas-guzzler, is designed to ignite consumer interest in new vehicle purchases. The plan [...]
According to a Bloomberg report issued yesterday, Congressman Darrell Issa has accused Chrysler CEO Robert Nardelli of failing to “disclose information material to ongoing bankruptcy proceedings.” He cited Dave Draper’s statement that a group of investors had offered Chrysler $35 million for the Viper, its plant, and related components and tools after the company put [...]
Senator Bob Corker, who insisted that Southern auto transplants owned by foreign companies could supply the nation’s vehicles without GM and Chrysler, has introduced an amendment to a tobacco regulation bill which would force GM and Chrysler to give dealers losing their franchise more time to wind things down and reimburse them for their vehicle [...]
Just as some Republicans are attempting to attach their “Congressional oversight of General Motors bailout” amendment to the FDA tobacco-regulation bill (which would, among other things, fight fraudulent claims by tobacco-product manufacturers), some Democrats have been trying to add a ”cash for clunkers” amendment to the FDA bill. The Senate Appropriations Committee objected to using money [...]