Low Cost Loans for Detroit Almost Within Reach


U.S. domes­tic automak­ers are all run­ning low on cash. That is one rea­son they are anx­ious for the fed­er­al gov­ern­ment to appro­pri­ate the long antic­i­pat­ed $25 bil­lion in low cost loans. These loans are to be used to retool their plants in order to build more fuel-effi­cient cars. Mem­bers of the Michi­gan Con­gres­sion­al del­e­ga­tion thought the funds would avail­able as ear­ly as Jan­u­ary 2009. The Ener­gy Depart­ment, how­ev­er, says it will be some time in 2010 at the ear­li­est.