Word: bridgees
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Chrysler: "A $7 billion secured working capital bridge loan by December 31, 2008."
Chrysler is looking for a $7 billion bridge loan by the end of 2008. The company also is asking for $6 billion in loans from an already-approved Energy Department program established to encourage production of fuel-efficient cars.
All three automakers have included additional concessions by the UAW as part their broad case for government bridge loans totaling $34 billion. After meeting with the UAW, GM management issued a statement: "We are pleased to see these changes and the willingness of the UAW to help improve our competitiveness...
For the moment, the CEOs of the Big Three car companies are focused on getting help from Washington sooner rather than later. Later this week, they return to Capitol Hill to make the case for $34 billion in bridge loans to help their companies rebound from staggering debt loads and...
Within a few months, however, al-Obeidi had been forgotten, as Sunni insurgents fired mortars into Kadhamiya and the Mahdi Army fired back. The bridge was closed, and soon both sides were rewriting al-Obeidi's story: to Shi'ites, he became a myth; to Sunnis, a fool.