Paulson Takes Lead in Auto Rescue Talks

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	Paulson Takes Lead in Auto Rescue Talks
chestnut501
12-18-2008 5:36 PM
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tags:
news, economy, auto industry, bailout, paulson
chestnut501 says:
As if things couldn't get any worse
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a10b92f2-eb74-4747-8c7a-465c23727446/E4FE625F-D69C-41EA-926E-D7841C3B984F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/12/18/business/18auto.html?_r=1&ref=todayspaper" href="http://www.nytimes.com/2008/12/18/business/18auto.html?_r=1&ref=todayspaper" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/12/18/business/18auto.html?_r=1&ref=todayspaper">
<P>The negotiations continued on Wednesday even as Chrysler announced that it 
would idle all of its factories for a month or more, extending an annual holiday 
shutdown that normally lasts about two weeks. Chrysler’s finance arm also warned 
dealers on Wednesday that a shortage of cash might force it to stop making loans 
temporarily that many dealers rely on to buy inventory for their lots.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/12/18/business/18auto.html?_r=1&ref=todayspaper"><P fire="function() {
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}">In the negotiations, the Treasury secretary, <A title="More articles about Henry M. Paulson Jr." href="http://topics.nytimes.com/top/reference/timestopics/people/p/henry_m_jr_paulson/index.html?inline=nyt-per" fire="function() {
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}">Henry M. Paulson Jr.</A>, is effectively taking on the role of “auto czar,” which was envisioned in the carmakers rescue bill written by the White House and Congressional Democrats and approved by the House but blocked by Senate Republicans.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/12/18/business/18auto.html?_r=1&ref=todayspaper"><P fire="function() {
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}">In an interview on Wednesday on CNBC, Mr. Paulson said the auto bailout talks were now his primary focus, but he declined to say if the money promised by the White House would be disbursed before Christmas. “The autos will get the money as quickly as we can prudently do it,” he said. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E4FE625F-D69C-41EA-926E-D7841C3B984F/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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