Word: detroiters
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...realistic solution would be to appropriate just enough money to keep the companies alive until early next year, when a new Congress and Administration can tackle the complicated issue in a more comprehensive fashion. But even if a short-term fix of, say, $15 billion, is approved to keep Detroit going until the end of March, there is still disagreement over many details. Republicans want to take the money from a $25 billion modernization fund set up earlier this year, but environmentalists are adamantly opposed to such a move. And as House Speaker Nancy Pelosi's office pointed...
Washington is engaged in a giant game of chicken with the Big Three automakers, and unless someone swerves soon, Detroit is going to end up as wreckage on the side of the road...
...like a consensus on how to handle the urgent request for a total of $34 billion in bridge loans - $7 billion for Chrysler, $9 billion for Ford and $18 billion for GM. Democrats and Republicans clearly still have major disagreements about where the money should come from, how much Detroit should get up-front and what kind of conditions to impose for such government assistance...
...lesson the CEOs had clearly learned since their last disastrous appearance on Capitol Hill was the need to present a better face to their plight. They all drove hybrid or fuel-cell vehicles from Detroit, in stark contrast to the corporate jets all three arrived in last month. Senator Richard Shelby of Alabama, the top Republican on the panel and a fierce opponent of giving them any aid, grilled them on their road trips. "Did you drive? Did you have a driver?" he pressed. "Do you plan on driving back...
...will get their second round with the Big Three. And if the hours of grilling in the Senate seemed tough, they are sure to face much more skepticism from the lower chamber of Congress. Senate Majority Leader Harry Reid and Pelosi have said that if both committees approve of Detroit's recovery plans, they will call Congress back into session next week to pass a bill. Of all the compromises open to lawmakers, one thing is nearly certain: the bigger and more complicated the plan, the less likely it is to pass...