Brought to you by WBIW News and Network Indiana
Last updated on Monday, December 22, 2008
(UNDATED) - A skeptical reaction from Governor Daniels to the automaker bailout loans announced by President Bush.
Daniels says the US needs to make sure there's a genuine restructuring at the automakers, so that the companies don't simply run through the money and end up back where they started in a few months.
Friday, President George W. Bush approved $17.4 billion in emergency loan funding to the Detroit automakers in an effort to keep them out of bankruptcy.
The money comes out of the remaining 1st-half funds of the even-more-controversial Wall Street bailout package. Both GM and Chrysler will receive $4 billion by December 29th in a first disbursement, and GM could receive another $5.4 billion next month.
Additionally, the Canadian government in Ottawa has issued almost $3.3 billion in loans to Detroit's Canadian operations.
Network Indiana contributed to this story
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at email@example.com
© Ad-Venture Media, Inc. All Rights Reserved.
Click here to go back to previous page