The House and Senate Democrats, are working feverishly, to craft a bill, that will allow the Big Three, GM, Ford, and Chrysler to receive a loan of fifteen billion dollars. Less than sought by the executives the loan will take them through the first quarter of 2009. They will be monitored by
a yet to be named "Car Czar". This individual will monitor the activiities of the automakers as they try to restructure, and
put themselves on a path to solvency and eventually profitability. He will report back to the Congress and the President, he will monitor all expedenditures of twenty-five million or more. Reportedly, if he thinks the auto companies are not progressing properly, he will be able to call the loan.
The loan will be taken from the twenty-five billion, approved by the Congress in 2008, for fuel efficient cars of the future.
March, 2009 will be the date for a review by Congress, to determine if enough progress has been made by the three companies. The next step will be worked out at that time.
Two of the companies may be merging by that time. There are those that are caling for GM's CEO Rick Wagoner to step down.
Porsche and Volkswagen will be shutting down their plants over the holidays.
BMW and Mercedes-Benz are experiencing falling sales, due to reduced demand for luxury cars, from the economic downturn.
President-Elect Obama, has chosen General Shineski, as his
nominee for Secretary of Veteran Affairs. He is a Vietnam veteran, twice wounded, and a former Commoander in Iraq.
Reportedly 40% of North Korea's population, will need food, in 2009.
The Tribune Company, parent of the L. A. Times, has filed for bankruptcy.
Sony is said to be cutting 8,000 jobs, and closing 10% of its plants. They will also reduce their investments due to sales stalling.
Withe the election of Obama , the September 11 attackers, say they will plead guilty at their Guantamano Bay trials.
The U. K. housing sales, fall to lowest level since 1978.
Can't afford to attend inauguaration, The Stafford Foundation and the Urban League, will provide hotel rooms, gowns, and other clothing, plus limousine service. Interested, e-mail Inaguaration@thestaffordfoundation.org
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