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Auto Loans News

Democratic vice presidential hopeful Joe Biden wasted no time Monday in hitting Republican presidential candidate John McCain on auto industry issues, saying McCain does not fully support the industry's bid for $50 billion in government loans.


WASHINGTON — Democratic vice presidential hopeful Joe Biden wasted no time today in hitting Republican Sen. John McCain on auto industry issues, saying McCain does not fully support the industry's bid for $50 billion in government loans.


WASHINGTON -- Michigan's senior senator said he is working to win passage of a roughly $50 billion package of government-issued loans to assist Detroit's Big Three automakers.


Automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly pla....


So, the latest news is that the automakers are asking for another bailout. According to various reports, the industry wants Congress to appropriate $25 billion in low-cost loans authorized in last December’s energy bill.


Beware, taxpayers: The auto industry wants a handout, and it's going to be expensive. Encouraged by their success in last year's energy bill, which authorizes the government to back $25 billion in loans to auto companies, Ford, General Motors and Chrysler are starting to lobby for even more money.


Two southwest suburban auto dealers have been sued for deceptive sales and advertising practices by the Illinois Attorney General's office.


Arms, a pioneering initiative of Asset Reconstruction Company of India Ltd, has recently acquires over Rs 1,200 crore worth of distressed consumer loans including housing and auto portfolio.


General Motors Corp., Ford Motor Co., Chrysler LLC and U.S. auto-parts makers plan to seek $50 billion in government-backed loans, double their initial request, to develop and build more fuel-efficient vehicles.


More employees were put on the path to retirement security in 2007 by employers adopting automatic savings and investment solutions in their retirement plans, according to How America Saves 2008, a comprehensive report on defined contribution retirement plans released today by Vanguard.



 
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