Tag Archives: White House
Chrysler Adjusts Production
Due to the continued lack of consumer credit for the American car buyer and the resulting dramatic impact it has had on overall industry sales in the United States, Chrysler LLC announced that it will make significant adjustments to the … Continue reading
Auto bailout prospects revived in Senate
Prospects for an auto industry bailout revived in the U.S. Senate on Thursday as surprise negotiations on a compromise moved forward and a vote was possible later in the day. Senate Majority Leader Harry Reid said on the Senate floor that the deal, if struck, “would overwhelmingly pass” the chamber that just hours ago seemed resigned to sending the automakers back to Detroit empty-handed. The scenario at the core of the possible compromise was proposed by Sen. Bob Corker, a Tennessee Republican, who would grant loans under stricter conditions than favored by Democrats and the White House. Continue reading
Bailout plan could soon face House vote
By John Crawley and Thomas Ferraro WASHINGTON (Reuters) – The U.S. House of Representatives could vote as early as Wednesday on a $15 billion plan to bail out and restructure U.S. automakers but the initiative may face Republican roadblocks in … Continue reading
White House sceptical on final Democrats auto bailout plan
By Thomas Ferraro and John Crawley WASHINGTON (Reuters) – The White House and Democrats edged toward agreement on Monday to rescue U.S. automakers by extending emergency loans but their plan leaves key restructuring decisions to the incoming Obama administration. Three … Continue reading