Posted on June 4th, 2009 • by David Zatz
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 [...]
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Posted on May 5th, 2009 • by David Zatz
The number of creditors objecting to the Chrysler-Fiat-Treasury plan appears to be dwindling, if a motion filed today by the “Attorneys for the Chrysler Non-TARP Lenders” (Thomas Lauria, who claimed death threats as the sole named attorney) is any evidence. In part II, the document tellingly describes the “Non-TARP Lenders” as holding “over $300 million [...]
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Posted on April 28th, 2009 • by David Zatz
According to the Washington Post, Chrysler’s creditor group has reached an accord with the Treasury Department which will, coupled with this week’s union deals, prevent bankruptcy. A group of 45 financial firms have agreed to drop their debt demand from $6.9 to $2 billion and around 10% of the company’s equity, shared with the U.S. [...]
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Posted on April 17th, 2009 • by David Zatz
In 2007, the Supreme Court ruled that the EPA had to determine whether so-called “greenhouse gas” emissions were a threat to health. According to the Detroit News, the EPA has now ruled that gases which have been tied to rising temperatures ”endanger the health and public welfare.” The decision will become final until after a 60-day public-comment period, [...]
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Posted on April 9th, 2009 • by David Zatz
According to the Detroit News, the GSA will buy 17,600 fuel-efficient vehicles from all three major American automakers by June 1, at a cost of $270 million. This includes 2,500 hybrid sedans, to be ordered by April 15; while Detroit automakers have invested in hybrid-electric technologies, sales fell after gasoline prices dropped. The White House estimated [...]
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Posted on March 30th, 2009 • by David Zatz
In their rush to send out key details of Obama’s auto plan, many journalists ignored important information. This is the full text; other documents are available from the White House. One of the challenges we have confronted from the beginning of this administration is what to do about the state of our struggling auto industry. [...]
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