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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (45265)	11/20/2008 1:28:29 PM
From: Lizzie Tudor	Respond to of 149317

Pelosi doesn't like the big 3 and neither does Boxer. But in this climate of job losses they are probably sucking it up rather than lose so many jobs. Any other time, Pelosi would let GM fail. You have to wonder about the business sense of Detroit also. They pissed off half the country - now those same people they gave the finger are running the house and senate - and they go ask for a bailout. Pelosi to EPA head on CA waiver denial: "I vigorously disagree with your rationale," "strongly support the inquiry" autobloggreen.com VP Cheney met with automakers before EPA denied CA waiver California Waivergate is slowly snow balling into a very big story. Various papers, including the New York Times, are reporting that vice President Dick Cheney met with automakers before the EPA denied California's waiver to regulate tailpipe emissions. Most shocking is this quote from the LA Times: "Clearly the White House said, 'We're going to get EPA out of the way and get California out of the way. If you give us this energy bill, then we're done, the deal is done,'" said one staffer. autobloggreen.com

To: ChinuSFO who wrote (45265)	11/20/2008 2:16:16 PM
From: stockman_scott	Read Replies (1) \| Respond to of 149317

Automaker-Rescue Plan to Be Taken Up By Congress Next Month By Laura Litvan and John Hughes Nov. 20 (Bloomberg) -- Democratic congressional leaders will bring Congress back into session in December to consider helping cash-strapped automakers, delaying action on a bipartisan compromise plan, a leadership aide said. House Speaker Nancy Pelosi, a California Democrat, and Senate Majority Leader Harry Reid, a Nevada Democrat, have scheduled a 2 p.m. news conference. A group of U.S. senators, who reached a bipartisan agreement on aiding U.S. automakers, scheduled a 2:30 p.m. news conference in Washington. Reid yesterday refused to schedule floor time to debate a possible compromise plan. The Bush administration called on Congress to break its deadlock on a plan to bail out the Big Three automakers, saying a Republican measure would pass if put to a vote. Senator Mitch McConnell, a Kentucky Republican, yesterday proposed expediting $25 billion Congress already approved for fuel-efficient vehicles and instead let the automakers use it for general liquidity. Bond said he was working out a compromise to do that and also retain requirements such as executive pay limits and government oversight that had been part of a Democratic plan. Funds From Rescue Plan The Democratic plan to help the automakers with funds from the recently approved $700 billion bank-rescue package stalled in the face of Republican opposition and a Bush veto threat. It may be revived after President-elect Barack Obama takes office in January and Democrats install strengthened majorities in both houses. General Motors Corp., the largest U.S. automaker, probably has weeks rather than months left before it runs out of cash without federal aid, said Jerome York, an adviser to billionaire Kirk Kerkorian and former GM board member. GM Chief Executive Officer Rick Wagoner “all but said” at congressional hearings in the past two days that GM can’t continue to operate until a new U.S. administration takes over in January, York said in a Bloomberg Television interview today. Wagoner said automakers would like action before Obama takes over because a global credit crunch that has slammed sales in the U.S. is spreading to global auto markets. GM said Nov. 7 it may run short of the $11 billion minimum cash it needs to pay its bills each month by the end of this year and will fall “significantly” short of that level by the middle of next year. To contact the reporters on this story: John Hughes in Washington at Jhughes5@bloomberg.net; Jeff Green in Washington at o jgreen16@bloomberg.net. Last Updated: November 20, 2008 13:58 EST