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Dems are postponing crucial vote on auto bailout

Published November 20, 2008, 1:07 pm, INO News

(AP:WASHINGTON) Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable.

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Detroit Three CEOs ordered back to Washington - Ann Arbor News Blog
Congress, which was not impressed with Detroit's pitch for $25 billion in emergency bridge loans, is giving the automakers a second chance. House Speaker Nancy Pelosi, D-Calif. and Senate Majority Leader Harry Reid, D-Nev., said this afternoon they ...

Aid for Automakers Shelved Until December - Smart Money
WASHINGTON (Dow Jones) -- Congress will adjourn this week without passing legislation to extend emergency loans to U.S. automakers but could return in December if the car companies present a "viable" plan for their survival, top Democratic lawmakers ...

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GMAC files for bank holding status - Forbes
GMAC is majority owned by New York-based private equity firm Cerberus Capital Management LP, which also owns most of Chrysler. General Motors Corp. (nyse: GM - news - people ), which itself is running out of cash, owns a 49 ...

Dems are postponing crucial vote on auto bailout - Newsweek
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Dems Postponing Crucial Vote on Auto Bailout - Associated Press
WASHINGTON (AP) -- Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable. "Until they show us the plan, we cannot ...

Dems delay auto bailout vote, seek plan from Big 3 - San Francisco Examiner
» 20 mins ago: Dems delay auto bailout vote, seek plan from Big 3 « 56 mins ago: Dems are postponing crucial vote on auto bailout 1 hr 29 ago: Congress wants business plan from automakers 1 hr 52 ago: Officials: Dems to demand biz plan from Detroit ...

Congressional Democrats sidetrack vote on auto industry bailout ... - Minneapolis Star Tribune
1. no bailout unless: 2. force them into a negotiated bankruptcy, with all the union concessions pre-negotiated. Bottom line- no deal ? read more until the costs for labor match the non-union costs at the Southern US plants the foreign automakers ...

Washington, D.C. - WNDU
Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big 3 develop a plan assuring the money would make them economically viable. "Until they show us the plan, we cannot show them the money ...

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