{"id":10176,"date":"2009-03-24T00:00:00","date_gmt":"2009-03-24T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"washingtons-reluctant-auto-bailout","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/washingtons-reluctant-auto-bailout.html","title":{"rendered":"Washington&#8217;s reluctant auto bailout"},"content":{"rendered":"<p>CNNMoney.com &#8211; General Motors and Chrysler LLC have about a week or less before they find out if they&#8217;ll get the additional help they need from taxpayers, creditors and unions to avoid bankruptcy.<\/p>\n<p>What they already know is that any assistance they receive won&#8217;t be given happily.<\/p>\n<p>The two companies face a March 31 deadline to win concessions from bondholders and unions in order to prove to the Treasury Department that they can be viable in the long term. Without such a finding, the government can recall the $13.4 billion it has already lent to GM (GM, Fortune 500) and the $4 billion it loaned to Chrysler.<\/p>\n<p>Few expect Treasury to take such a drastic step.<strong> <\/strong>Still, it&#8217;s clear that the automakers need more than the loans they already have received. Chrysler is on record as saying it needs as much as $5 billion in additional funds by March 31 to avoid being forced into bankruptcy.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2009\/03\/24\/news\/companies\/automakers_bailout\/index.htm?postversion=2009032403\" target=\"_self\">Read Complete Article<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNNMoney.com &#8211; General Motors and Chrysler LLC have about a week or less before they find out if they&#8217;ll get the additional help they need from taxpayers, creditors and unions to avoid bankruptcy. What they already know is that any [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[9536,2557,3549,4021,2784,8617,9535,9514,9534,113,2202,9538,131,5793,4165,2485],"class_list":["post-10176","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-automakers","tag-bankruptcy","tag-bondholders","tag-chrysler","tag-cnnmoney","tag-creditors","tag-drastic-step","tag-eds","tag-fortune-500","tag-general-motors","tag-gm","tag-lent","tag-loans","tag-taxpayers","tag-treasury-department","tag-unions"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10176"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10176\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}