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governmentbailout

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    REPORT: Fed predicts it will lose $30B on auto industry bailout
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    2009 isn't quite over yet, but we're pretty sure most automakers would rather forget that it ever happened. And while General Motors and Chrysler suffered the pain and humiliation of bankruptcy and workers lost thousands of jobs and many plants and dealerships closed, the good news is that the ...

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    REPORT: Unsigned waivers to blame for Chrysler Financial rejection of gov't cash
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    Over the past two days, we've told you what we've heard about the latest short-term federal aid coming to Chrysler and GM. According to the latest reports, it will be $5B to the latter and $500M to the former. We also mentioned it had been reported that Chrysler Financial had inexplicably turned ...

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    Rental car companies latest to seek TARP funds
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    Feel that breeze? It's the draft coming through the front door. The door that was opened a crack to let in the banks and Detroit Three but has been pushed wide open. The latest industry to claim distress is from another automotive sector, the rental car business. Yes, The Wall Street Journal is ...

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    Canada officially approves its own $4 billion auto aid package
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    True to their word, the Canadians came through with an aid package to support the auto industry, namely GM and Chrylser. The amount to be loaned is $4 billion Canadian, with $2.7 billion coming from the national government and $1.3 billion coming from Ontario, where much of the industry is based. ...

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    Wagoner arrives for Senate hearing in Volt mule
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    General Motors CEO Rick Wagoner has arrived in Washington to deliver testimony at Senate hearings scheduled for today and tomorrow, and as we reported late yesterday, his transportation this time was not a private jet, but rather a series hybrid Chevy Volt mule in the body of a Chevy Cruze. Ford ...

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    European Union may complain to WTO over Detroit bailout
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    The US Congress is contemplating a bailout of $25 billion or more for US automakers, and the European Union is watching closely. European Commission President, Jose Manuel Barroso, told Europe 1 Radio that he is prepared to rat out the US government to the World Trade Organization if the EU ...

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    GM wants $10 billion in aid from the Feds to buy Chrysler
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    In the latest development of The Incomprehensible Union, General Motors is reportedly asking the U.S. government for $10 billion -- on top of the $25 billion loan approved recently -- to help it merge with Chrysler. The supplemental infusion would give the government, i.e. you and me, a stake in ...

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    Bailout bill includes big earmark for race tracks
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    What do failing banks and foreclosed houses have to do with race tracks? A lot, apparently, if you're Charles Schumer. The New York Senator added an earmark to the nation's $700 billion "rescue plan" that will extend current tax laws for race tracks that allow them to be considered the same as ...

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