InfoAnda - White House mulls urgent new steps on autos

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

China, Dalai Lama envoys to meet after stalemate | 26 January 2010
Pakistanis arrest American al Qaeda spokesman | | 8 March 2010
China climate envoy criticises rich nations | 10 December 2009

Assange impact on British-Latin American ties seen limited | | 22 August 2012

">Forum Views () ">Forum Replies ()

Read more with google mobile : White House mulls urgent new steps on autos

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: White House mulls urgent new steps on autos AFP - 1 hour 17 minutes ago WASHINGTON (AFP) - - The White House said Friday that it may tap a 700-billion-dollar rescue package to save US automakers from immediate collapse, a policy reversal hailed by Democrats and a major labor union. "Given the current weakened state of the US economy, we will consider other options if necessary -- including use of the TARP program -- to prevent a collapse of troubled automakers," spokeswoman Dana Perino said, referring to the Troubled Asset Relief Program conceived to help financial services firms. And the US Treasury Department "will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," said spokeswoman Brookly McLaughlin. Lawmakers are due back January 6. Perino, speaking aboard US President George W. Bush's official Air Force One jet, declined to say when a decision would come but said the White House understood "the urgency of the situation." The "weakened state of the economy is such that it could not withstand a body blow like a disorderly bankruptcy in the auto industry," which would "devastate further an already weakened economy," she told reporters. United Automobile Workers union President Ron Gettelfinger welcomed the White House and Treasury announcements as "great news" but worried about the details and pleaded for the funds to come "as quickly as possible." Gettelfinger said he was unsure "how much they're talking about, any terms or conditions that are associated with it," and warned that major automakers faced possible "liquidation" at the cost of millions of US jobs. Gettelfinger, who has access to the financial records of the Big Three, General Motors will run out of cash before 2009 without government help and Chrysler will not be far behind. Struggling Ford says it is in better shape. And GM announced Friday that it was idling 30 percent of its North American production "in response to rapidly deteriorating market conditions." Democratic Senate Majority Leader Harry Reid said he was "encouraged" by the Bush administration's announcements and "appreciative of the administration's change of heart" on his longstanding push to use TARP funds. For months, Bush had categorically refused to tap the TARP to save the iconic US carmakers, but the collapse in the Senate of alternative legislation bringing 14 billion dollars in bridge loans forced his hand. The measure would have required the manufacturing giants to engage in painful restructuring to ensure their long-term survival and repayment of the government monies or face bankruptcy proceedings. The House of Representatives passed the bill on Wednesday, but it collapsed in the Senate on strident opposition from Republicans who blamed unions in a dispute on the timing of bringing their wages in line with those paid by foreign automakers to non-unionized workers in US states. Gettelfinger denounced the wage debate as a "subterfuge" by anti-union Republicans eager to "pierce the heart of organized labor" and charged that they had demanded more concessions from workers than other parties. Perino warned that "while the federal government may need to step in to prevent an immediate failure, the auto companies, their labor unions, and all other stakeholders must be prepared to make the meaningful concessions necessary to become viable." And US president-elect Barack Obama, who takes office January 20, urged the White House and the Congress to "find a way" to provide urgent aid while forcing "the long-term restructuring that is absolutely required." The White House announcement came minutes before the market opened. Wall Street plunged in early volatile trade, with the Dow Jones Industrial Average tumbling 135.96 points, or 1.59 percent. The legislation would have provided GM and Chrysler bridge loans to operate until March 31, the date by which they must have crafted a restructuring plan that ensures their long-term survival while repaying government aid. The bill also required the president to name a special designee, or "car czar," who would oversee the process. Email Story IM Story Printable View Blog This Recommend this article Average (4 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Members of the United Auto Workers (UAW) march through New York on December 8, 2008 in support of the US government bailout of the auto industry. The White House said Friday that it will consider tapping a 700-billion-dollar Wall Street rescue to spare US automakers from an "immediate collapse" that the US economy "could not withstand." Most Popular – Top Stories Viewed White House mulls urgent new steps on autos US Senate fails to reach deal on auto bailout Autism, other disorders linked to post-natal factors: study Muslim pilgrims stone Satan at the hajj Sarcasm finds medical use in dementia detection View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Saturday, 13 December 2008
Taiwan's ex-president Chen indicted for corruption
US gives digital diplomacy a chance, on YouTube
Luke Skywalker light saber auctioned for $240,000
Hugh Jackman to host new-look Oscars
Hugh Jackman to host new-look Oscars
CNN names new White House team
Pakistan investors brace for stock index floor removal
India's industrial production shrinks in October
Sarkozy defends 'European values' on Tibet
Confiscating toy guns part of US mission in Iraq
Iraq clerics call for calm after bombing
Italian investor group formally takes over Alitalia
Car key blocks mobile phone use while driving
Iraqi official urges austerity measures
Shareholders approve Britain's HBOS-Lloyds TSB merger
Ecuador defaults, says to fight monster creditors | International |
India plans 3G spectrum sale Jan 15: report
White House mulls urgent new steps on autos
Nobel laureates crown U2's Bono 'man of peace'
Colombia extradites suspected drug lord to U.S. | International |
Videogame sales shine despite economic gloom: report
Athens anger resurfaces as Greek premier dismisses quit calls
Brazilian's family blast police after anti-terror shooting verdict
Vatican condemns embryo stem cell research, cloning | International |
Ireland to hold second treaty vote after summit deal
Museum to Chile's Pinochet sickens victims | International |
US Treasury ready to stave off auto sector collapse
Unanimous agreement on climate package: Sarkozy
US gives visa to mother of Ecuadorean beaten in NY
U.S. and Russia seek U.N. council agreement on Middle East | International |
Armed guards would deter Somali pirates: U.S. Navy | International |
US arms control official to hold talks in Moscow
Navy commander questions land attacks on pirates
UN talks set programme to landmark climate pact in '09
Canadian's battle role cast in doubt at Guantanamo | International |
S’pore congratulates Austrian city on winning winter YOG hosting bid
Jimmy Carter regrets not meeting with Hezbollah
EU hails climate deal as example for the world
Zimbabwe seeks all support we can get on cholera | International |
China welcomes EU climate deal, says US must do more
Poor nations to get funds to fight climate change
Prosecutors indict Taiwan's Chen on graft charges
Highlights of EU deal to fight climate change
Thai protesters warn against pro-Thaksin PM
Unanimous agreement on climate package: Sarkozy
UN confirms Afghan mass grave site disturbed
Ex-chairman urges Intel to make car batteries: report | Technology |
UN chief urges US to join UN rights body
US troops kill 4 Afghans on bus that wouldn't stop
Pakistan says India must give evidence on Mumbai
Mumbai attacks spark upper-class calls for change
Taiwan court to release indicted ex-leader on bail
Hugh Jackman to host new-look Oscars | Entertainment |
Nobel laureates launch appeal for Aung San Suu Kyi
Actors' strike threat casts shadow over Oscars | Entertainment |
1950s pin-up queen Bettie Page dies | Entertainment |
Actor Van Johnson dies, aged 92 | Entertainment |
Actor Van Johnson, '40s heartthrob, dies at 92
Marilyn Monroe photo may fetch record price | Entertainment |
Winslet, Law and Owen to lead line-up at Berlin film fest
Q&A: R&B star Chris Brown inspires avid fans | Entertainment |
Iconic Marilyn Monroe photos to auction
Nude Virgin of Guadalupe graces Playboy Mexico cover
Blur reunion gig sells out in two minutes
Dumas show explores birth, death and in-between
'American Idol' may ax its charity after 2 years
Celeb lunchboxes to benefit hunger relief
Tokyo train stations to ban smoking
1940's heartthrob Van Johnson dies at 92
2008: The year politics saturated our pop culture
After-parties feel heat from meltdown, SAG threat
'American Pie' star Tara Reid checks into rehab
Century mark: composer Elliott Carter turns 100
Academy Awards hosts through the decades
Singapore to boost construction, help airlines-report
Philippine security forces foil bombings in Manila
Asian powers in rare summit on economic crisis, NKorea
Reporter's blog on Chicago sit-in to become book
Screen Actors Guild faces dissension from NY board
Gas-rich Turkmenistan holds parliamentary vote
Italian police: Rocker stabbed, band members held
New clashes in Athens, PM says people safe | International |
Scotland Yard slammed after killing verdict
U.S. halts N.Korea fuel aid until deal | International |
Colombia extradites suspected drug lord to U.S. | International |
Italian quits just short of rowing the Pacific solo | International |
Panel urges U.N. to expand Congo sanctions list | International |
Canadian's battle role cast in doubt at Guantanamo | International |
Top Colombian drug trafficker arrives for trial in US
Taiwan media urge fair trial for indicted ex-president
Illinois moves to oust governor amid graft scandal
Sri Lanka says 10 rebels killed in fighting
US military deaths in Iraq war at 4,209
UN talks set programme to a landmark climate pact in '09
Voters head to polls in Indian Kashmir
In-the-works video games cater to music fans | Technology |
Pakistani cenbank sells 13.5 bln rupees of T-bills
Japan, SKorean leaders regret NKorean talks failure
Lawmakers urge FCC to delay contentious actions | Technology |
German bourse opens office in Beijing: statement
North Korea warns nuclear dismantling might slow
US auto industry on brink as EU seals huge recession package
Radio stations untangle more direct Web connections | Technology |
S.Korea approves 11.5 pct rise in budget for 2009
SKorea, China, Japan show unity at first summit
Police: Pakistan militants kill 2 alleged US spies
South Korean parliament passes 2009 budget despite boycott
Malaysia burglar stuck for 3 days in haunted house
China Eastern Airlines in management reshuffle
Toyota to suffer 1.1 billion dollar loss for 2nd half: reports
U.S. says N.Korea fuel aid halted until deal
China's Baidu cuts revenue forecast on ad scandal
Doubt made easy -- the hard way | Entertainment |
Chinese Democracy shows limits of retail exclusives | Entertainment |
Brian d'Arcy James is an unlikely ogre as Shrek
US says no more fuel shipments to NKorea until nuke verification
Pakistan militants destroy NATO vehicles: police
China likely to miss energy saving goal for 2008: report
Former Thai PM supporters gather for rally
Former Myanmar dictator's daughter released from house arrest
Cyclist Evans denies riding in 2009 Giro
Pachuca beat Al Ahly 4-2 in extra time
Judge jails man who offered Winehouse drugs
Ousted Thai PM Thaksin to address thousands from exile
UN chief urges China to continue Tibet dialogue
US team meets Iraqis over Blackwater shooting
Britain's Brown arrives in Afghanistan
X Factor finalists set for showdown in Britain
Iraqi PM rejects view U.S. troops needed for decade | International |
Fort Hood soldiers to participate in marathon
Russian troops move back into disputed village: Georgia
Russia retakes Georgia border village | International |
Gates warns US adversaries not to test Obama
Russian FM sees roadblocks to future cooperation with NATO
Police fire bullets against Kashmir protesters | International |
US commander focuses on Sons of Iraq transition
Zimbabwe seen eyeing fresh polls | International |
Indian navy arrests 23 pirates in Gulf of Aden
Training centre set up to meet demand for pre—school education professionals
SKorea, China, Japan show unity at first summit
British PM visits UK troops near Afghan front line
3 killed, 3 kidnapped by Philippine militants
Malls haven’t cut back on festive decor despite gloomy economic outlook
British PM visits troops near Afghan front lines
Mumbai's Taj Mahal hotel to reopen in a week: owners
Pakistan: Police say Taliban kill alleged US spies
Rower rescued off Australia after 10-month journey
19 Mercy Relief volunteers honoured for disaster—relief in Myanmar, Yemen
Springsteen memorabilia returned to NJ library
Pakistan sends troops to guard NATO supply trucks
8 artists display works at exhibition in the business district
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01