Auto parts industry seeking Bush loan guarantee plan

Nov 05, 2008 | 12:54 PM | Martyn Chase

The auto parts industry has joined the rest of the auto sector in formally requesting that the Bush administration quickly establish a loan guarantee program as part of its $700-billion financial rescue package.

The Motor Equipment Manufacturers Association (MEMA), representing auto parts suppliers nationwide, has sent a letter to President Bush making the case for an immediate injection of federal aid, an action that now seems more likely following Barack Obama's sweeping election....

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