Hot Topic: Ford to get US$6B technology loan for US government

July 1, 2009

will receive nearly US$5.9B in US government loans to spur development of more fuel-efficient vehicles, the administration said last Tuesday. Japan’s Ltd will receive US$1.6B, and start-up Inc will receive US$465B in advanced technology financing from the Department program. “By supporting key technologies and sound business plans, we can jumpstart the production of fuel-efficient vehicles in ,” Secretary said at Ford headquarters. “These investments will come back to our country many times over by creating new jobs, reducing our dependence on oil, and reducing our greenhouse gas emissions,” he said. The agency plans additional loans over the next several months to automakers and suppliers. Chu said the administration began talks with Chrysler Group LLC on possible technology loans immediately after the company stepped out of bankruptcy protection this month. It is also having “technical” discussions with General Motors Corp, which is currently reorganizing in bankruptcy proceedings. Both companies applied for financing last year but their financial distress disqualified them from consideration in the first round of financing. The US$25B program is only open to viable (real) companies.

Popularity: 2% [?]

US President Obama to lift stem cell research limits

March 15, 2009

Barack is poised to sign an executive order on Monday lifting restrictions on federal funding for human embryonic research. The move comes almost eight years after , the former , imposed strict limits that critics said hindered medical research and hurt US science.

research is fiercely opposed by some religious groups because it involves the destruction of human embryos. But scientists and health activists argue it could reveal treatments for conditions ranging from diabetes to Parkinson’s disease. Under Mr. ’s restrictions, funding was allowed only for a relatively small number of existing cell lines to prevent taxpayer money being used to destroy additional embryos.

The announcement marks the latest in a series of early steps by the to roll back his predecessor’s legacy. Some science advocates had grown nervous about why the research ban was not overturned in the first wave of announcements but the issued assurances that it was coming soon. Mr. has already thrilled the science community by appointing , a Nobel prize-winning physicist, as secretary, and reversing the administration’s skeptical attitude towards climate change.

However, the ruling threatens to alienate at a time when Mr. is facing mounting partisan opposition from the right.

Popularity: 6% [?]

Clicky Web Analytics