US automaker bailout deal fails to pass Senate
Friday, December 12, 2008 A US$14 billion bailout package deal for the “Big Three” United States automakers — Chrysler, Ford, and General Motors — has been rejected in the United States Senate after failing a procedural vote. The bill was rejected after bipartisan discussions on the bailout broke down when Republican Party leaders insisted that the United Auto Workers (UAW) union agree to increase wage cuts by next year in order to bring their payContinue reading