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...immediate temporary Federal loan in the amount of up to $4 billion in the month of December 2008 ... GM would look to draw up to an additional $4 billion in January to fund operating losses caused by very low levels of North American production ... If industry conditions do not improve materially, GM would access another $2 billion ... bringing the total draw to as much as $10 billion by the end of the first quarter...
Ford: "A 'stand-by' line of credit, in the amount of up to $9 billion. This line of credit would be a back-stop to be used only if conditions worsen further...
There's a fair share of defensive in these documents, but also a decent amount of penitence. It's fascinating to see these behemoth companies admitting that they've made mistakes in the past and realizing that they need to shift production to smaller, more fuel-efficient vehicles (though it does seem as if they're just tossing that in there because such talk is all the rage these days). Who knows how much is genuine. Can giant corporations be genuine about stuff like that? Yet the case is also effectively made that the failure of the Big Three would...
...statistically implausible that the likelihood becomes nearly incalculable.” Lipson said he felt confident that the city’s biotech labs posed no risk to Cambridge residents. “I’m more concerned about the risk from the amount of ammonia being stored in the old candy factories,” he said. —Staff writer Sarah J. Howland can be reached at showland@fas.harvard.edu...
...there's a seventh-grader who is contemplating cutting class with his friends. If he has $100 on the line, maybe he'll go to class." And if he's really on the ball, maybe one day he'll realize that GradeFund's 5% transaction fees amount to a pretty hefty commission...