Washington - You haggles eleven hours long - without success. The 14-billion-dollar rescue plan for the American auto industry is in the U.S. Senate on opposition from the Republicans failed. “It is,” said the majority leader of the Democrats, Harry Reid. Until the meeting of the new Senate next year there will be “no further work” on the rescue plan.
The carmakers regretted the failure: “We are deeply disappointed that today in the Senate despite bilateral efforts no agreement could be found,” said GM spokesman Tony Cervone. The group has, according to “The Wall Street Journal” already before week some of the most renowned U.S. bankruptcy advisers and lawyers involved. These examined whether creditors should be sought. However, CEO Rick Wagoner has been cautious so far - he fear that a creditor request to deter potential car buyers.
The fate of the threatened bankruptcy of industry giant General Motors (GM) and Chrysler is now uncertain. Opel’s parent company, and Chrysler now want to examine all options to ensure their survival. Both had declared the end of this year before the stand, they should not soon be helped financially.
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