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US May Take Big Stake in Big 3

Draft bill creates 'auto czar' for firms' reorganization

By Matt Cantor, Newser Staff

Posted Dec 9, 2008 6:40 AM CST

(Newser) – As a $15 billion auto industry rescue takes shape, the terms of the plan would give government a major stake in the Big Three and allow it to guide a bankruptcy-like restructuring process, the Wall Street Journal reports. Under the terms of draft legislation, the... Read full story »

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US May Take Big Stake in Big 3

Draft bill creates 'auto czar' for firms' reorganization

Bush administration • Congress • auto industry • Big Three • bailout • rescue package

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Bush: Auto Bailout 'Not Ready'

Deal seems to be grinding gears

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Auto industry in danger of going under while lawmakers haggle over lifeline

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Union ready to make concessions to secure industry loan

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