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Nobody's Buying SUVs So GM, Chrysler, Ford Get $25 Billion Bailout

Posted October 1st, 2008 by ucanphil

Today's successful business model exemplified by Detroit. Make SUVs and trucks nobody wants to buy, post record losses, get government bailout.

As a reward for posting record losses, the federal government is providing $25 billion in loans to GM, Chrysler and Ford as part of a $630 billion spending bill.

The loans can be made for up to 25 years with payments deferred for up to five years. Interest rate on the loans will be about 5 percent.

I would like my mortgage set to the same terms.

 

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Bush approves $25 billion loan package for auto makers

Big Three to Get Check From Government

Detroit wants its bailout too

Auto industry's federal loans may not arrive in time

Filed Under
Gas & Autos Automobiles -
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It seems that people were

On January 7th, 2009 petty says:

It seems that people were jumping on the hybrid hatchback (chevy parts car, etc.). And they had pushed for tougher fuel-efficiency standards for hybrid technology.

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