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whose next???
http://money.cnn.com/2008/12/10/news...ion=2008121013
but what happens after march???
Deal on $14 billion auto bailout
NEW YORK (CNNMoney.com) -- The White House and leading congressional Democrats have reached an agreement on legislation to provide a stopgap bailout to U.S. automakers, according to officials from the administration and Congress.
The next steps were not clear early Wednesday afternoon. A House vote could take place later Wednesday. But strong Republican opposition in the Senate made prospects there less certain.
The bill could provide the $14 billion that General Motors (GM, Fortune 500) and Chrysler LLC need to avoid filing for bankruptcy, allowing them to continue operations through the end of March.
The $14 billion is $1 billion less than what was being discussed earlier in the week, and less than half the $34 billion requested by automakers last week. Still it may well be enough to stave off the immediate threat of bankruptcy.
NEW YORK (CNNMoney.com) -- The White House and leading congressional Democrats have reached an agreement on legislation to provide a stopgap bailout to U.S. automakers, according to officials from the administration and Congress.
The next steps were not clear early Wednesday afternoon. A House vote could take place later Wednesday. But strong Republican opposition in the Senate made prospects there less certain.
The bill could provide the $14 billion that General Motors (GM, Fortune 500) and Chrysler LLC need to avoid filing for bankruptcy, allowing them to continue operations through the end of March.
The $14 billion is $1 billion less than what was being discussed earlier in the week, and less than half the $34 billion requested by automakers last week. Still it may well be enough to stave off the immediate threat of bankruptcy.
but what happens after march???