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Filed under: Government/Legal , Chrysler, LLC. , Ford , GM , Earnings/Financials So here's a breakdown of what's going on in Congress concerning federal aid for U.S. automakers. A Senate bill expected to be voted on this Thursday would expedite funds for Ford, GM and Chrysler so that they could actually get the cash they need within 22 days after the bill becomes law -- should the bill become law. The $25 billion loan, paid back at an initial rate of 5-percent, would come out of the $700 billion bailout fund for financial institutions. The Senate's stipulations would be that the government receives "stock warrants or senior debt instruments to the government," similar to actions taken with banks that accessed the $700 billion. As well, top executives get no big payouts and stockholders get no dividends. The rumblings on the track indicate that unless the folks in favor can change a lot of minds before Thursday, the Senate bill has little hope of passing. That makes...
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Filed under: Etc. , Government/Legal , Chrysler , Ford , GM Charges of anti-Americanism have followed the transmittal of an e-mail from the US Department of Health and Human Services to 67,000 federal workers. The e-mail, written by an unnamed member...
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