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Auto Industry Bailout

The U.S. government lost $9.26 billion in its financial rescue of the auto industry, and closed out its last investment earlier this month six years after initiating the plan.

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White House Throws GM & Chrysler $17.4 Billion Financial Lifeline

WASHINGTON – In an early morning televised announcement, President Bush announced a plan to offer the struggling automakers $17.4 billion in short-term financing, $13.4 immediately available and another $4 billion likely available in February. But the plan comes with strict conditions.

Auto Industry Rescue Plan Dies in Senate

The Associated Press reported late Thursday night that bipartisan negotiations in Senate on a Republican version of the House-passed automotive industry bailout plan fell apart after the United Auto Workers balked at demands for dramatic wage cuts.