If not for a dispute over union wages, the lifeline to save the so called big three US automakers will be pushed through. On Thursday night, the $14 billion bailout deal collapsed in the Senate.
The collapse of the talks in the Senate means Obama will have a much greater say in how to aid the companies. He will be sworn in as president on Jan. 20.
The bill passed by the House would create a White House-chosen "car czar" for the auto industry, empowered to hold the companies accountable for developing long-term viability plans. The car czar would be able to require immediate repayment of the loans if the companies don't make adequate progress by Feb. 15. Final restructuring plans would be due March 31.
more...
more...
0 comments:
Post a Comment