Word: auto
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With the clock ticking on the hemorrhaging U.S. auto industry, the Bush Administration agreed to come to its rescue by offering a total of $17.4 billion in loans in exchange for concessions from the ailing companies and their workers. A majority of the funds will be offered to General Motors and Chrysler LLC immediately, with another $4 billion to be made available pending what the White House considers a viable recovery plan...
...Allowing the auto companies to collapse is not a responsible course of action," Bush said in his announcement, in which he also mentioned the consideration of letting the automakers go into bankruptcy: "Given the current state of the auto industry and the economy, Chapter 11 is unlikely to work for American automakers at this time...
...tape with a teenage girl. Genson won the case, getting Kelly acquitted of all 14 counts. And in a 2003 verdict that stunned some court observers, Genson teamed with three other top-tier lawyers to win the acquittal of Bruno Mancari, the brother of a well-known Chicago-area auto dealer, on charges he murdered a childhood pal 18 years earlier...
...understand why there's no talk in Congress about moving auto manufacturers' health-care systems into the federal system in exchange for an equity investment that--as journalist Thomas Friedman has suggested--requires the hybridization of their entire fleet. The federal system includes several large health-care units. Why not take Detroit's health-care needs off the automakers' hands and develop a single-payer system before rolling it out on a national scale? Not having to worry about the medical needs of personnel would make Detroit automakers better able to compete with other companies. Matthew Ernst, OCEAN ISLE BEACH...
...economy would not withstand the collapse of the auto industry, but perhaps carmakers should look to their friends in the oil industry for assistance. ExxonMobil and others reported record profits--with our money--supplying fuel for all the gas-guzzlers Detroit built. Why should U.S. citizens pay again? William Stamm, ROSENDALE...