JustRalph
09-25-2008, 03:51 PM
With all the other stuff going on........don't forget........you are bailing out Chrysler, GM and Ford too.............and this is just the beginning
http://gm-volt.com/2008/09/24/house-approves-25-billion-loan-for-chrysler-ford-and-gm/
House Approves $25 Billion Loan for Chrysler, Ford, and GM
September 24th, 2008
Times are getting tough all around. This has been true for US automakers in particular. GM has been working hard to shore up liquidity to ride the economic downturn, with the hopes of a 2010 recovery and the dawn of the Chevy Volt.
Today the US government gave them a boost.
The House of Representatives approved a measure which was part of a larger spending bill that included the $7.5 billion in appropriations required to allow a $25 billion loan for Detroit.
The low interest loan was authorized to assist automakers in retooling their plants to make more fuel efficient vehicles.
They could get the money early next year when at the same time a similar sized additional $25 billion dollar loan package is expected to be proposed. How and to whom the loan will be doled out won’t be decided until next year.
http://gm-volt.com/2008/09/24/house-approves-25-billion-loan-for-chrysler-ford-and-gm/
House Approves $25 Billion Loan for Chrysler, Ford, and GM
September 24th, 2008
Times are getting tough all around. This has been true for US automakers in particular. GM has been working hard to shore up liquidity to ride the economic downturn, with the hopes of a 2010 recovery and the dawn of the Chevy Volt.
Today the US government gave them a boost.
The House of Representatives approved a measure which was part of a larger spending bill that included the $7.5 billion in appropriations required to allow a $25 billion loan for Detroit.
The low interest loan was authorized to assist automakers in retooling their plants to make more fuel efficient vehicles.
They could get the money early next year when at the same time a similar sized additional $25 billion dollar loan package is expected to be proposed. How and to whom the loan will be doled out won’t be decided until next year.