Word: fording
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Dates: during 2000-2009
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...more deceiving than they were Wednesday on Capitol Hill. Late in the day, the House of Representatives passed by a wide margin of 237-170 a bill to give General Motors and Chrysler $14 billion in emergency loans from a green modernization fund that Congress created earlier this year. (Ford is in better shape and has not asked for short-term emergency assistance.) But behind the scenes, things looked pretty dire for the Big Three's hopes of a rescue...
...agreement. But such an accord will not come easy. In fact, the House bill was pronounced DOA in the Senate six hours before the House even voted on it. Senate Republicans are balking at a deal they claim does not go far enough in demanding that General Motors, Ford and Chrysler prove they have viable long-term business plans before qualifying for a second round of loans in March. All told, the Big Three have asked for $34 billion in bridge loans, though many economists say it will take up to $200 billion to really reinvent Detroit; negotiators have agreed...
...political will in Washington to pass a comprehensive rescue plan. When they returned to Congress last week to plead for help, the automakers asked for $34 billion in order to avoid bankruptcy. Most economists agree that if even one of the Big Three - Chrysler, General Motors or Ford - were to file for Chapter 11, it would have a potentially crippling cascade effect on the economy. The automakers and their suppliers employ more than 2.5 million American workers - nearly one in 10 U.S. jobs. The $15 billion is intended to see Chrysler and GM in particular - Ford is in better financial...
...contracts the union signed and ratified with GM, Ford Motor Co. and Chrysler last year, over significant internal opposition, also represent a 5% cut in real wages because money from the automatic cost-of-living escalator that has been a feature of UAW contracts for more than half a century was diverted to cover health-care expenses, says Amy Bronson, who recently retired from Chrysler LLC and is now working on a Ph.D. at Wayne State University in Detroit. Union members also paid more for health care and gave ground on work rules, which critics claim drive up operating costs...
...errant outbreak of swine flu at Fort Dix, New Jersey, caused scientists to worry about a possible pandemic, so President Gerald Ford announced that the federal government would vaccinate the entire U.S. population. Unfortunately, several hundred people developed Guillain-Barré syndrome, an illness characterized by nerve damage and paralysis, after receiving the vaccination. The Ford family tried to alleviate fears by televising their flu shots, and in the end 40 million Americans were vaccinated for a strand of influenza that only had a handful of documented cases of human infection. (Read "Does the Flu Vaccine Really Protect Kids...