Bailout rejection plunges US car industry into crisis

US car giants General Motors and Chrysler could run out of cash within weeks after the Senate rejected a $13bn (€10bn) bailout to rescue the automobile industry.

Bailout rejection plunges US car industry into crisis
Fri, 12 Dec, 2008 - 14:33

US car giants General Motors and Chrysler could run out of cash within weeks after the Senate rejected a $13bn (€10bn) bailout to rescue the automobile industry.

The defeat late last night happened after talks broke down over the refusal of the United Auto Workers union to meet Republican demands for aggressive wage reductions.

You have reached your article limit. Already a subscriber? Sign in

Continue reading for €5

Unlock unlimited access and exclusive benefits

CONNECT WITH US TODAY

Whatsapp logo

WHATSAPP

Newsletter logo

NEWSLETTERS

Notification logo

NOTIFICATIONS

Be the first to know the latest news and updates

More in this section

Government expands buy and renew scheme to include building contractors Government expands buy and renew scheme to include building contractors
Ireland-headquartered Smurfit targets 40% rise in profit to $7bn by 2030 Ireland-headquartered Smurfit targets 40% rise in profit to $7bn by 2030
Man going on summer vacation Booking a holiday? Here's how to avoid scam websites, lost deposits and missed flights
CourtsBusinessHeathrowPlace: USPlace: AsiaPlace: EuropePlace: Wall StreetPlace: Lansing, MichiganPlace: DetroitPlace: CapitolPerson: BushPerson: Virg BerneroPerson: Senator Carl LevinPerson: House SpeakerPerson: Nancy PelosiPerson: President George BushPerson: president-elect Barack ObamaOrganisation: General MotorsOrganisation: ChryslerOrganisation: SenateOrganisation: United Auto Workers unionOrganisation: RepublicanOrganisation: White HouseOrganisation: US SenateOrganisation: DemocratOrganisation: FordOrganisation: republicansOrganisation: DemocratsOrganisation: GMOrganisation: UAWOrganisation: Wall StreetOrganisation: House
<p>Under the model, the HCCI said that home care referrals are issued simultaneously to all approved providers, who must respond immediately to secure the allocation.</p>

Home care firms want HSE to end home support allocation model

READ NOW

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Latest

Business

Push Notifications

By clicking on sign up you will be the first to know about a selection of business content on this browser. Please note if you are unable to sign up via your mobile web browser, download and sign up for mobile push notifications via our FREE news app.

Sign Up
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Fergus Finlay
Fergus Finlay

Analysis

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Most Read

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited