Deal struck for Big 3 for 17 billion....whew! (Or something)

The tension could be cut with a knife over the past two days in Detroit. Wasn't much better in Washington, where the CEOs of the big three were anxiously awaiting where their proposals for federal aid would lie in the whole scheme of things. Would they get the 34 billion they requested? Would they get anything? Would they get money but with a ton of stipulations?

Well, they got their answer. While it may not be the exact answer they requested, it is certainly a move in the right direcion. A senior congressional aide told Reuters yesterday that the package, which Democratic leaders will send to President Bush next week, totals between $15 to $17 billion. Breaking it down, it means that the $15 to $17 billion should be enough to meet GM and Chrysler request for a total of $11 billion by the end of 2008 .

Well, you can't discount the effort at all; the question is, the money will certainly be enough to last initially; now it's going to be up to the CEOs continuing to work over the Obama administration once they take over in January.

( Add your comments )

Recent Entries:
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car
· Could DeLorean save the Pontiac Solstice?

[ READER COMMENTS ]

Deal struck for Big 3 for 17 billion....whew! (Or something)

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.