The first draft of a bill that would offer loans to the Detroit 3 automakers - effectively allowing at least two of them to keep their doors open for at least the next few months - is now out. As expected, there are a few stipulations that the automakers must accept if they are to receive these loans. One of which is an appointed "car czar," who would continue the negotiations after March 31, 2009. That's when the Detroit 3 are supposed to offer revised business plans.

Of course, there are other requirements. For instance, "The terms of any financial assistance under this Act shall prohibit the eligible automobile manufacturer from participating in, pursuing, funding, or supporting in any way, any legal challenge (existing or contemplated) to State laws concerning greenhouse gas emission standards." In other words, the automakers must promise to stop attempting to undermine California's efforts to set its own emissions standards, along with any other states that choose to adopt those standards. Anything else? Of course... each automaker would also need to rid itself of private jets, 'cause that's really important, right?

Money for these loans, assuming this bill is officially passed, would come from the $25 billion that's already been promised to the automakers for the development of green technologies. This being the case, certain environmental conditions - such as not arguing with California - are to be expected. Whether or not they are a good idea, on the other hand, is now officially back up for debate.

[Source: CNN Money, The Detroit Free Press]

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