![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
STIMULUS SUBSIDIES * Europe & USA - French carmakers get 6.5bn euros
The government wants carmakers to keep their French sites open
Paris,France -BBC News (UK) -9 Feb 2009: -- France has decided to loan 6.5bn euros ($8.5bn, £5.7bn) to three carmakers, President Nicolas Sarkozy has said... Peugeot-Citroen and Renault will receive 3bn euros each, while Renault Trucks, which is owned by Sweden's AB Volvo, will get 500m euros... In exchange, they had pledged to keep French sites open, the president said after talks with carmakers...
* USA - Treasury says automakers' bankruptcy possible
Washington,DC,USA- Bloomberg News, by Mike Ramsey & Tiffany Kary -February 10, 2009: -- General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the government to assure repayment of $17.4 billion in federal loans, a course of action the automakers claim would destroy them... U.S. taxpayers take a backseat to prior creditors, including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc., according to loan agreements posted on the U.S. Treasury's Web site... If federal officials fail to get a consensual agreement to change their position regarding repayment, they have the option of forcing the companies into bankruptcy as a condition of more bailout aid. The government would finance the bankruptcy with a debtor-in-possession loan, a lender status that gives the U.S. priority over other creditors, said Don Workman, a partner at Baker & Hostetler LLP... The automakers have dismissed calls to reorganize under bankruptcy protection...
Labels: governments stimulus
posted by Unknown @ 7:52 AM
0 Comments:
Post a Comment
<< Home