Compromise to Save American Automakers

GM says it doesn’t have enough cash to finish the year. Its union fears if GM goes under, Ford or Chrysler may follow. As late as Thursday morning, it looked doubtful they’d get any help from Washington. Now, there’s talk of compromise. Democrats and Republicans from auto-manufacturing states announced a compromise to save American automakers from bankruptcy. It’s basically the Bush plan: loan them the 25 billion congress already set aside for updating factories instead of dipping into the financial rescue funds.