[postlink]http://newslightingtechnology.blogspot.com/2008/12/us-house-of-representatives-approve.html[/postlink]Washington - House of Representatives, or DPR, the United States (U.S.), finally gives approval for the provision of funds talangan (bailout) the automotive sector worth U.S. $ 14 billion. Talangan funds that can be expected to prevent bankruptcy automotive sector.
U.S. House of Representatives menggolkan Law Auto Industry Restructuring and Financing, after voting by 237-170, and after a long debate with the White House. This legislation will be brought next to the Senate, which will likely return to opposition from the Republic.
Spokesman U.S. House of Representatives, Nancy Pelosi said, the agreement is expected to be an initial hurdle for the industry and U.S. economic health. "Law is made to provide an opportunity for Detroit and the U.S. to return to the point," he said.
"We believe that the law made in the last few days of this approach is an effective and responsible in facing the automotive sector are problematic, while emphasizing the importance of restructuring will occur," said White House spokesman, Dana Perino, as quoted from Reuters, Thursday (11/12/2008).
Here are some points in the law that setebal 40 pages, as quoted from the AFP:
1. U.S. President will appoint one or two people called as the 'Car Czar' to manage the funds talangan US4 14 billion like Chrysler, Ford and General Motors.
2. Loan timed 7 years with 5 percent interest rate for the first five years and 9 percent thereafter.
3. During this period, every proposed financial transactions more than U.S. $ 100 million can be prevented.
4. Payment of the loan can be accelerated and other financial assistance can be canceled on presidential approval
5. Each car must submit a restructuring plan on March 31 each, which includes how business sustainability in the long term, international competitiveness and energy efficiency.
6. During the debt to get it, there are no bonuses or incentives given to the 25 workers who get the highest salaries. Law prohibits the provision of this' golden parachutes for executives at the exit.
7. The company does not pay dividends.
8. If the companies go bankrupt, the debt from the government through technical assistance will not be stopped.
U.S. House of Representatives menggolkan Law Auto Industry Restructuring and Financing, after voting by 237-170, and after a long debate with the White House. This legislation will be brought next to the Senate, which will likely return to opposition from the Republic.
Spokesman U.S. House of Representatives, Nancy Pelosi said, the agreement is expected to be an initial hurdle for the industry and U.S. economic health. "Law is made to provide an opportunity for Detroit and the U.S. to return to the point," he said.
"We believe that the law made in the last few days of this approach is an effective and responsible in facing the automotive sector are problematic, while emphasizing the importance of restructuring will occur," said White House spokesman, Dana Perino, as quoted from Reuters, Thursday (11/12/2008).
Here are some points in the law that setebal 40 pages, as quoted from the AFP:
1. U.S. President will appoint one or two people called as the 'Car Czar' to manage the funds talangan US4 14 billion like Chrysler, Ford and General Motors.
2. Loan timed 7 years with 5 percent interest rate for the first five years and 9 percent thereafter.
3. During this period, every proposed financial transactions more than U.S. $ 100 million can be prevented.
4. Payment of the loan can be accelerated and other financial assistance can be canceled on presidential approval
5. Each car must submit a restructuring plan on March 31 each, which includes how business sustainability in the long term, international competitiveness and energy efficiency.
6. During the debt to get it, there are no bonuses or incentives given to the 25 workers who get the highest salaries. Law prohibits the provision of this' golden parachutes for executives at the exit.
7. The company does not pay dividends.
8. If the companies go bankrupt, the debt from the government through technical assistance will not be stopped.
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