Auto Executives Still Find Skeptics
The News Review:
- Auto Executives Still Find Skeptics
- Auto rescue notebook
- Democrats Set to Offer Loans for Carmakers
- UPDATE:Bush Pushes Congress To Act On Loans For Auto Cos Next Week
- Reporter’s Notebook: At Auto Hearing Frank Runs a Tight Ship
- Where Does Detroit Go From Here?
Auto Executives Still Find Skeptics
New York Times United States
“They are substantial. ” The White House said it stood ready to aid the auto industry by speeding up access to.
Auto rescue notebook
Detroit Free Press United States
com | Detroit Free Press. ‘ To allow for bankruptcy or failure of an automaker right now amid the credit crisis ‘would be a disaster.
Democrats Set to Offer Loans for Carmakers
New York Times United States
Bolten President Bush’s chief of staff and the White House too seemed ready to reach a deal. “We’re continuing to talk to both parties and both houses of Congress and we hope to make more progress this weekend” said Tony Fratto the White House deputy press secretary. Details of the auto companies’ rescue package were not immediately available but senior Congressional aides said that it would include billions of dollars in short-term loans to keep the automakers afloat at least until Mr. Obama takes office. The auto companies will have to submit to strict government oversight to make sure that the bailout funds are used to carry out the reorganization plans they delivered to Congress this week. The auto company chiefs testified this week that they were willing to accept such regulation.
UPDATE:Bush Pushes Congress To Act On Loans For Auto Cos Next Week
CNNMoney.com
“This is in large part because of severe problems in our housing creditand financial markets which have resulted in significant job losses. ” As executives from the Big Three renew their case for a $34 billion governmentbailout at a congressional hearing Bush gave no indication he has softened hisstance against using funds from the Treasury Department’s $700 billionfinancial-market rescue package to help the auto makers an approach favored byDemocrats on Capitol Hill. Bush said loans available from the Department of Energy – intended to help theauto sector retool to make more fuel-efficient vehicles – could be used toweather the downturn “so long as the companies make hard choices on all aspectsof their business to prove that they can not only survive but thrive. ” “I am concerned about the viability of the automobile companies I amconcerned about those who work for the automobile companies and their familiesand likewise I am concerned about taxpayer money being provided to thosecompanies that may not survive” the president said. On the broader economy Bush said the administration is focused on the “rootcauses” of the recession – jammed credit markets and the housing slowdown. He noted positive signals coming from the credit markets. “Credit is beginning to move.
Reporter’s Notebook: At Auto Hearing Frank Runs a Tight Ship
FOXNews
com Friday December 05 2008 Photos. Barney Frank shown here at Friday’s auto exec hearings has the gavel. (AP Photo) Related Stories. On Capitol Hill the Red Light District is Rayburn Room 2128 home of the House Financial Services Committee. House and Senate committees use a timing system to control the ebb and flow of testimony and questions from lawmakers.
Related from Bloggingrssmonster: Live Blogging: Automakers on the Hill Day 2
Where Does Detroit Go From Here?
New York Times United States
Lawrence HolofcenerLake Worth Fla. 5 2008•To the Editor:Instead of giving billions only to the automakers how about giving half the money to the auto buyers? Every eligible car-buyer would get a voucher good only for a car made by Ford Chrysler or General Motors. The vouchers would be good only for gas-efficient vehicles and would have no expiration date. The reason the Big Three are in dire straits is that their sales are in the cellar. The vouchers should motivate the industry to produce high-demand vehicles cut down on oil demand help the environment benefit Joe the Driver if you will and give our ailing economy a shot in the arm. Josh TaneBriarcliff Manor N.
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