Cars and Drivers
Oouch! Auto Bailout Deal Dead In A Hour (GM)(F)
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So much for the Detroit bailout that was supposed to be announced later today.
CNBC is reporting that there is no deal.
The network says: "Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi said a compromise agreement worked out earlier Thursday by four key senators would not be approved. Instead, they said they will hold more hearings in December to consider the auto industry’s pleas."
Douglas A. McIntyre
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