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After days of uncertainty, Senators rejected amendments from six Republicans and one Democrat and voted 60-37 to add $2 billion to the funding of the Car Allowance Rebate System, popularly known as “cash for clunkers.” The bill was identical to the House version, so the measure goes directly to President Obama who will sign it [...]
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Senator Bob Corker of Tennessee, who was a spokesman for allowing domestic automakers to be liquidated until he discovered a GM plant in his state, and Mark Warner of Virginia have announced their intent to introduce a bill demanding “oversight” of companies more than half-owned by the government, which would include AIG, Citigroup, and General [...]
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Chrysler LLC Chairman and Chief Executive Bob Nardelli read the following statement to the U.S. Senate Committee on Banking, Housing and Urban Affairs, on Nov. 18, 2008: Mr. Chairman, members of the Committee, I appreciate this opportunity to address the current economic and financial crisis, the impact it is having on the automotive industry, and [...]
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