Category: News Author : Duncan Riley Posted: December 11, 2008
Tags : auto industry, bush, economic crisis, senate
The American auto industry may be on the edge of collapse with the US Senate set to reject the proposed $14 billion auto bailout, the last opportunity to approve the bailout until the new year.
The formal vote is still to be had, and Democrats said that they would present it anyway, but talks with minority Republicans failed to find support.
The White House said in a statement that it would evaluate its options, but declined to say what those options may be. Democrats have previously asked that some of the $700 billion bailout package approved in October be used to prop up the auto industry, an approach President Bush has so far rejected.
Oh well, they can always sell their corporate jets, that might cover GM and Chrysler for a day of two until they file for Chapter 11 bankruptcy.
![[Graph] Relative load times of website content](http://www.inquisitr.com/wp-content/2010/07/website-ads-100x100.png)
![[Hilarious] Andy Levy Apologizes to Chris Brown](http://www.inquisitr.com/wp-content/2011/08/andy-levy-chris-brown-100x100.jpg)
Dec 12, 2008
General Motors had offered buyouts to all of its 74,000 U.S. hourly employees. [5] Those workers could have elected to take a lump-sum payment of $45,000 or $62,500, depending on their job description, and retire with full benefits. [6]
Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts – but not until 2011.
http://nomedals.blogspot.com
is were citations are posted
Jan 27, 2009
Since almost everyone expects the bailout to go through there is not likely to be much of an immediate impact when it passes. If the bailout is about what people expect the stock may even drop a little because some people “sell on news.”
Of course, if the terms are more generous than expected the stock will rise and if the terms are less generous than expected the stock will fall.
Don't forget that the stock is already up substantially from its low.
Jun 18, 2009
Sir is appropriate nomenclature to use when addressing a male senator. If I were the General, I would have been similarly torn with a number of possible responses to her reprimand.
“It seems you're also working hard on the title of Retard – do you mind if I switch to calling you that?”
“I'm sorry, I thought we were here to talk about miltary issues, not your low self-esteem issues.”
The General showed class by not having his hackles raised by the disrespectful reprimand.
Jun 18, 2009
wow. what a bitch. i guess she is too good…