Sunday, November 09, 2008

Looks like the bailouts are spreading...

Automakers' $25 Billion Fast-Track Bailout

The Detroit Three's desperate plight is speeding along a rescue from Washington, with for now no plans for hearings

BusinessWeek, By David Kiley, November 8

The incoming Obama Administration is determined to help the U.S. auto industry survive the deepening recession. And with General Motors, Ford, and Chrysler hanging on by threads, there is little pressure so far to have auto executives give something in return, except perhaps a promise to preserve jobs. The only questions that remain, say those close to and on the President-elect's transition team, is how the help materializes—and when.
That's excellent. We can't wait to buy another Chrysler.


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