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Old 12-19-2008, 10:17 AM   #1
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Default Breaking News: Bush to Offer $17.4 Billion in Loans

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[drupal=2787]Breaking News: Bush to Offer $17.4 Billion in Loans[/drupal]

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Justin Hyde from the Detroit Free Press Washington Staff: The Bush administration will offer General Motors and Chrysler loans totaling $17.4 billion in return for strict conditions mirroring those proposed by Senate Republicans last week. Those terms include not only the conditions agreed to by congressional Democrats, but new limits sought on the UAW contracts including matching wage and benefits of foreign automakers with U.S. plants by the end of next year.
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Old 12-19-2008, 12:58 PM   #2
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Default Re: Breaking News: Bush to Offer $17.4 Billion in Loans

Good. If indeed there is meaningful restructuring involved without creating massive consumer loss of confidence that would come with the standard bankruptcy process, this actually has a chance of working. It is far from a theoretically perfect solution but it at least it seems practical.
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