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Lawrence Journal World in Lawrence, Kansas

20 Dec 2008

Page 2

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Newspaper

Lawrence Journal World

Location

Lawrence, Kansas, United States of America

Date

Dec 20, 2008

Page

2

Bush Hands Car Keys to Obama in GM Chrysler Rescue

President Bush unveils a $17 billion auto rescue aimed at saving General Motors and Chrysler, preserving industry viability into the Obama era. The loans, issued via TARP, can be revised by Barack Obama, with UAW concessions and potential CEO changes under consideration as restructuring proceeds.

MENTIONED IN THIS ARTICLE

Washington George W. Bush General Motors Corp Chrysler LLC White House Obama Bush Congress Chrysler United Auto Workers Union Treasury Department Administration Barack Obama Autoworkers Union Organized Labor UAW Japan United States Carl Levin D-Mich Treasury Henry Paulson Alan Reuther General Motors Rick Wagoner Madalyn
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Auto bailout winners and losers in the industry

The $17.4 billion auto bailout helps GM pay bills and avert immediate bankruptcy, with Chrysler poised to survive to March while its long term fate is uncertain. Ford plans to avoid federal aid but remains wary of supplier ripple effects. Workers face job cuts or pay reductions as automakers press for viability, and union members like GM’s Flint employee express pessimism about living standards.

MENTIONED IN THIS ARTICLE

Detroit United Auto Workers U.S Bush Chrysler Cerberus General Motors Renault SA Nissan Motor Co Ford Alan Mulally Claire McClinton GM Metal Center Flint Mich
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Also Mentioned on This Page

David Espe Associated Press Kimberly S. Johnson Weller Ant Liel Appuinune Locum Pere Cere Eer Tlel Westlake Ace Manchester Rd Westlake-Ace Hardware The Lawrence Journal-World Sunflower Broadband Uzea Fia Louisiana
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