Bailout dies in Senate

December 12th, 2008 by Bill Cawthon

The legislation that would have provided immediate loans to Chrysler and General Motors was killed in the Senate according to Majority Leader Harry Reid.
“We have not been able to get this over the finish line,” Reid said late Thursday, adding that he dreads what will happen on Wall Street tomorrow. “It’s not going to be a pretty [...]

Tags: bailout, Chrysler, loans, Reid, Senator, UAW. Auto industry, Chrysler, Government loans

Bush talks about automaker aid

December 5th, 2008 by DaveAdmin

George W. Bush asked Congress to help domestic automakers without providing additional loans today, again suggesting his “compromise plan,” which would scrap previous Congressional legislation authorizing $25 billion in loans for high-efficiency vehicles.
Bush’s Energy Secretary originally refused to dole out any of the $25 billion in loans until 2010, though the legislation called for disbursements [...]

Tags: bailout, Congress, credit, economy, government, loans, Reid, Senator, suppliers. Auto industry, Government loans

Proposed bailout conditions for the auto industry

November 17th, 2008 by DaveAdmin

According to Detroit News, Senator Majority Leader Harry Reid will shortly introduce a bill to set aside $25 billion of the $700 billion Troubled Asset Recovery Program for automakers. Unlike banks, automakers will have to agree to real limits on executive compensation; in addition, automakers will not be able to use loans to pay dividends, [...]

Tags: bailout, compensation, government, loans, Michigan, Paulson, Reid, Senator, stock, suppliers, Treasury. Auto industry, Chrysler, GM

Bush, Paulson bailing on automakers?

November 12th, 2008 by Bill Cawthon

The Bush Administration has said it would consider immediate aid for the Detroit automakers if Congress approves it, but does not want to tap the $700 billion included in the Emergency Economic Stabilization Act. According to White House spokeswoman Dana Perino, that program was designed to help financial institutions and there was no specific discussion [...]

Tags: bailout, Chrysler, Congress, design, economy, factories, General Motors, loans, Michigan, Obama, Paulson, Pelosi, President Bush, Reid, Senator, Treasury. Auto industry, Chrysler, Factories

Tag Archive for 'Reid'

Bailout dies in Senate

Bush talks about automaker aid

Proposed bailout conditions for the auto industry

Bush, Paulson bailing on automakers?