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Automakers need to make case for government aid
WASHINGTON - Democratic leaders began laying out conditions Friday that they say Detroit's Big Three automakers need to meet before Congress will consider giving them an emergency $25 billion lifeline.
People:Carl Levin Harry Reid Nancy Pelosi Activities:2008 Automakers Downturn 110th Congress
2008-11-21
White House assails 'mindless' Congress on auto vote
ABOARD AIR FORCE ONE (AFP) - The White House assailed Congress for putting off a vote on whether to bail out the struggling auto industry, blasting Democrats for their "mindless opposition," a spokeswoman said Friday.
People:Harry Reid Nancy Pelosi Barack Obama George W. Bush Activities:2008 Automakers Downturn Bush Admin. Source:(AFP)
2008-11-21
GM, Chrysler making deep cuts to hold on for loans
DETROIT - When Chrysler was near death and awaiting a government bailout in 1979, then-CEO Lee Iacocca ordered drastic spending cuts and required all checks above $1,000 to be approved by a senior vice president.
People:Nancy Pelosi Activities:2008 Automakers Downturn Source:(AP)
2008-11-21
GM cuts output, jets as U.S. demands turnaround plans
DETROIT/WASHINGTON - Detroit automakers began work on turnaround plans demanded by Congress in return for $25 billion in aid as General Motors Corp said it would cut production more and give up two of its controversial corporate jets.
Nations:U.S. Canada People:Alan Mulally Harry Reid Nancy Pelosi Barack Obama Activities:2008 Automakers Downturn
2008-11-21
Dems delay auto bailout vote, seek plan from Big 3
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. "Until they show us the plan, we cannot show them the money," Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.
Nations:U.S. People:Alan Mulally Harry Reid Nancy Pelosi George W. Bush Activities:2008 Automakers Downturn 110th Congress
2008-11-20
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