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 from [...]
Republican Nebraska senator Mike Johanns has, with the public support of several colleagues, introduced an amendment to an FDA bill to vote on Obama’s plan for General Motors. If successfully attached to the bill, it could delay GM’s bankruptcy process and possibly result in the auto giant’s liquidation, given opposition by Republican leaders and some Democrats [...]
Judge Arthur Gonzalez has delayed a hearing on Chrysler’s request to terminate 789 of its dealers until Thursday, to give dealers more preparation time; the Senate Commerce Committee is questioning Jim Press and Fritz Henderson about Chrysler and GM’s dealer-dropping plans today. While Chrysler plans to terminate 789 dealers’ franchise agreements, GM is planning to drop [...]
At the request of the White House and President-elect Barack Obama, today the Senate released the second $350 billion of the $700 federal rescue package demanded last year by George W. Bush and Treasury Secretary Paulson. Some of the money could be used to provide loans to the auto industry. Obama promised tighter control of [...]
Enthusiasts are likely to spread the word about the current “Cash for Clunkers” proposal introduced by Senator Diane Feinstein. The goal of the program is to reduce fuel usage while stimulating the industry, by giving people a credit when they trade in a vehicle with an EPA rating of under 18 miles per gallon (presumably [...]
Freshman Senator Bob Corker, who savaged Chrysler and General Motors during the recent loan hearings, today told reporters that he hopes Chrysler will find a merger partner.
“Chrysler probably needs to merge with somebody, not necessarily go away from the standpoint of existence,” according to the junior Senator from Tennessee. “It appears to me based on [...]
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