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Yes, Detroit, there is a Santa Claus * USA - Auto makers to get more than $17 billion in loans
Washington,DC,USA -MarketWatch, by Christopher Hinton, Ronald D. Orol & Greg Robb -Dec. 19, 2008: -- Ending months of roller-coaster negotiations, President Bush moved Friday to extend $13.4 billion in loans to troubled U.S. auto makers, with another $4 billion likely available in February... Bush, saying failure of the companies was not an option, cited the need to avoid "disorderly liquidation" during an already troubled economic period. he deal could help General Motors Corp. and closely held Chrysler LLC avoid bankruptcy. The administration said the funds are contingent on the companies showing they're financially viable and competitive by the end of March -- otherwise they must pay back the loans in full...Labels: auromakers' crisis
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