|
Advertisers,
Vendors and Donations |
|
In our effort to promote the American Hybrid, Electric and Alternate
Fuel Vehicle industry in North America, we need your help. If you
wish to advertise on this website, or in our monthly eNewsletter, please
email
ads@allamericanhybrid.com for information. If you wish to
support this site, please click here to make a donation through
PayPal. Thank you for your
support. |
|
 |
 |
 |
White House Bridge Loan Approved
up to $17.4 Billion |
The White House
has approved an emergency bridge loan of up to $17.4 Billion in
exchange for specific concessions from the US automotive
industry and the UAW. One of the concessions is that the US
government will have an option of partially nationalizing the
companies through the purchase of stock. [Update - this was
incorrect information by a news feed. There is no plan for
nationalization, that we are aware of, at this time - Editor,
12/19/2008 11am EST]
It is reported
that $13.4 Billion will be available this month with $9.4
Billion for General Motors Corp and $4 Billion for Chrysler,
LLC. Ford has stated that it does not need immediate help.
The objective
of the bridge loan is to keep the automotive industry operating
while passing the longer-range issue of the industry’s survival
to the incoming Obama administration and Congress.
The bridge loan
package demands similar concessions to those outlined in a plan
that was approved by the House but rejected by the Senate a week
ago that would provide three months for participating automakers
to come up with, and have approved, restructuring plans or
return the loans in full.
We will be
reporting more on the subject on
http://www.AllAmericanHybrid.com by noon EST today
December 19, 2008, 9:15am EST
By William Bulbrook
AllAmericanHybrid.com Writer
|
 |
|
