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U.S. markets recover from steep losses
WASHINGTON, Dec. 18 (UPI) -- White House spokeswoman Dana Perino said the U.S. government was closing in on a deal to help the Big Three automakers.
"We're nearing a conclusion. We're very close," Perino said Thursday. "The president is not going to allow a disorderly collapse of the companies. That is not an option," she said, The Detroit News reported.
Perino said the package could include the option of a "managed bankruptcy" or using money from the $700 billion financial firm bailout. "I don't want to rule anything out," she said.
White House and U.S. Treasury officials have been wading through financial details to develop a financial aid package for the ailing U.S. auto giants.
The Bush administration had been pushing for a deal that could be announced before Dec. 25, the New York Times reported.
Chrysler has said it needs $4 billion soon to avoid bankruptcy while GM has said it need $14 billion to survive through March of next year. Federal officials reportedly were trying to fit a financial aid package meant for financial firms to benefit automakers.
"The autos will get the money as quickly as we can prudently do it," Treasury Secretary Henry Paulson Jr. said on CNBC Wednesday.
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DAMASCUS, Syria, May 24 (UPI) --
The Syrian government has lost about $4 billion since September because of sanctions placed on oil exports, the country's petroleum minister said.
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LISLE, Ill., May 24 (UPI) --
A new special operations tactical vehicle has been unveiled by three U.S. companies.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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