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Cars of future may be money-losers

U.S. automakers faced a barrage of demands recently that they provide evidence and assurance that they would use federal bailout money to transform their companies to produce automobiles of the future, using advanced technologies and featuring hybrid or plug-in vehicles. And in his 60 Minutes interview on Nov. 16, Obama said that before backing a big loan package he wanted to be sure “that we are creating a bridge loan to somewhere as opposed to a bridge loan to nowhere.”

Sunday 30 November, 2008 08:51 AM

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