US House passes US Automaker Loan bill - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 11 Old 12-10-2008, 08:05 PM Thread Starter
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Thumbs up US House passes US Automaker Loan bill

$14 Million bridge loans to the US Automakers just passed in the US House

Final vote totals: 237-170 in favor.

Democrat: 205 Yea, 20 Nay
Republican: 32 Yea, 150 Nay, 1 Present

But remember, this is just the House.
It still has to pass the Senate, and that is the problem.

Bill stipulations:
No bonuses or incentives to top 25 management.
No dividends may be paid to stockholders until loans are repaid.

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post #2 of 11 Old 12-10-2008, 08:39 PM
 
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Finally congress did something useful with our money.
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post #3 of 11 Old 12-10-2008, 10:02 PM
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fingers are crossed that Sen. Shelby doesn't pollute many more with his diarrhea of the mouth.

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post #4 of 11 Old 12-10-2008, 10:15 PM
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Thank god.


Oh yes... the senate. If they don't pass it, I'm coming at them with razor blades and lemon juice.

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post #5 of 11 Old 12-11-2008, 05:43 AM
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The momentum is moving in the right direction. We'll have to wait and see.


It's looking good for the Big 3.
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post #6 of 11 Old 12-11-2008, 05:48 AM
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Originally Posted by USA1Camaro View Post
The momentum is moving in the right direction. We'll have to wait and see.


It's looking good for the Big 3.
I agree!


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post #7 of 11 Old 12-11-2008, 07:18 AM
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Now, I just heard the Senate might screw up the works. Not enough votes possibly.

I don't mind check and balances. Hopefully they'll get it ironed out.
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post #8 of 11 Old 12-12-2008, 07:19 AM
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Quote:
Originally Posted by Octane5GO View Post
$14 Million bridge loans to the US Automakers just passed in the US House

Final vote totals: 237-170 in favor.

Democrat: 205 Yea, 20 Nay
Republican: 32 Yea, 150 Nay, 1 Present

But remember, this is just the House.
It still has to pass the Senate, and that is the problem.

Bill stipulations:
No bonuses or incentives to top 25 management.
No dividends may be paid to stockholders until loans are repaid.
No surprises in those restrictions, weren't there more?

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post #9 of 11 Old 12-12-2008, 09:50 AM
 
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It failed in the senate, thanks to the UAW.

http://news.yahoo.com/s/ap/20081212/...congress_autos
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post #10 of 11 Old 12-12-2008, 09:55 AM
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I hate the UAW,



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