Where does it end? Are we going to bailout every bank, industry and homeowner? What happened to free market capitalism? The unions destroyed this industry and now the government (you and me) will keep them artificially alive so members of the union can still collect high compensation which will continue to keep the American auto manufacturers uncompetitive.-Lou
GM, Chrysler request up to $39 billion in loans
SAN FRANCISCO (MarketWatch) -- General Motors Corp. and Chrysler LLC, both drowning in debt as car sales continue to spiral downward, submitted requests to the U.S. Treasury late Tuesday that, if granted, could provide up to $39 billion in emergency loans to keep the automakers from falling into bankruptcy.
Separately, the United Auto Workers union said it has agreed to a tentative deal to modify labor contracts hammered out in 2007 due to the "extraordinarily difficult economic climate."
The union said terms of the modifications will be made available after working out details of the employees' health-care benefits plan and ratification of the agreement by the union
Read Article Here:
http://www.marketwatch.com/news/story/gm-chrysler-request-up-39/story.aspx?guid=%7B0CB347F9%2D025D%2D4670%2D8C16%2DFADB5573B260%7D&dist=TNMostRead
GM, Chrysler request up to $39 billion in loans
SAN FRANCISCO (MarketWatch) -- General Motors Corp. and Chrysler LLC, both drowning in debt as car sales continue to spiral downward, submitted requests to the U.S. Treasury late Tuesday that, if granted, could provide up to $39 billion in emergency loans to keep the automakers from falling into bankruptcy.
Separately, the United Auto Workers union said it has agreed to a tentative deal to modify labor contracts hammered out in 2007 due to the "extraordinarily difficult economic climate."
The union said terms of the modifications will be made available after working out details of the employees' health-care benefits plan and ratification of the agreement by the union
Read Article Here:
http://www.marketwatch.com/news/story/gm-chrysler-request-up-39/story.aspx?guid=%7B0CB347F9%2D025D%2D4670%2D8C16%2DFADB5573B260%7D&dist=TNMostRead
Posts
No comments:
Post a Comment