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Posted: 6:53 AM Dec 12, 2008
Auto Bailout Stalled; Negotiations into the Night
Labor, the auto industry and lawmakers have been bargaining in unprecedented private talks in the capitol tonight, struggling to salvage a $14-billion government bailout of the big three carmakers.
Reporter: Associated Press Email Address: news@nbc11news.com |
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Washington (AP) Labor, the auto industry and lawmakers have been bargaining in unprecedented private talks in the capitol tonight, struggling to salvage a $14-billion government bailout of the big three carmakers.
After several hours of talks, Senate Majority Leader Harry Reid said, “we're closer to agreement.” But he also said an accord remains elusive.
ficials say the negotiations center on possible wage-and-benefit concessions from the United Auto Workers Union as well as large-scale debt restructuring by General Motors, Ford and Chrysler.
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