Movers: GM, Ford, United Technologies, BorgWarner, Bank of America
A frantic, last-ditch attempt to forge a relief package for auto industry collapsed in the U.S. Senate, dealing a giant blow to the immediate hopes of the Big Three, due to a sharp partisan dispute over the wages paid to workers at the manufacturing giants, reports The Wall Street Journal. Senate Majority Leader Harry Reid of Nevada suggested the $14 billion wouldn't be revisited until January. "It's over with," he said. Separately, General Motors (GM) reportedly has hired bankruptcy lawyers.
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