The News Review:
- LA union workers rally in support of auto industry bailout
- AUTO LOAN PLAN CLEARS BIG HURDLE Pelosi drops opposition to …
- US Lawmakers Move Toward Agreement on Aiding Auto Companies
LA union workers rally in support of auto industry bailout
Los Angeles Times CA
Passing cars honked horns as the marchers shouted: “Hey hey ho ho! Bridge loan is the way to go!” Many waved signs reading “Support the Bridge Loan” and “All I Want for Christmas is a Job. “Democratic congressional leaders agreed late Friday to a stopgap compromise that would provide at least $14 billion in loans to the auto industry by diverting money from an existing fund that was supposed to help automakers produce more fuel-efficient cars according to senior aides. The measure still needs support from some Republicans to get through the Senate as well as White House approval. But President Bush already has come out in favor of using money from the Energy Department’s $25-billion advanced technology fund to help the car companies. “This is not a union fight. This is an American fight” said Rodriguez 54 a vice president of United Food and Commercial Workers Union Local 770.
Related from Investingmonster: Investing in auto industry will save jobs
AUTO LOAN PLAN CLEARS BIG HURDLE Pelosi drops opposition to …
Detroit Free Press United States
“In the midst of the worst economic situation since the Great Depression it would be an unmitigated disaster. “The Senate is to reconvene Monday while House leaders said they would return Tuesday with leaders in both promising to take a vote next week. Hearings with auto leaders and experts Thursday and Friday made it clear that “Congress must work on a bipartisan basis to provide short-term and limited assistance to the automobile industry while it undertakes major restructuring” Pelosi said. Senate Majority Leader Harry Reid D-Nev. said any deal would need Republican support to pass. Reid also warned the industry that it would not get a blank check — a reflection of the anger in Congress over the loose terms given to financial firms as part of their $700-billion bailout. “It should never have come to this.
US Lawmakers Move Toward Agreement on Aiding Auto Companies
Bloomberg
7 (Bloomberg) — U. lawmakers worked to hammer outdetails of legislation to bail out ailing auto companies thatcould be presented to Congress as early as tomorrow afterreaching an agreement in principle with the Bush administration. The legislation is taking shape after House Speaker. The chief executives of General Motors Corp.