Senate negotiations on bailout break down
News of a deal gave way to impasse; sticking point was union wage cuts
http://www.msnbc.msn.com/id/28166218/
The bailout just fell through....
"A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts."
"I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."
They said they are still trying to make progress on getting automakers back on track....but i guess this particular deal isnt going through due to the union not willing to make any contract changes