The White House's cryptically worded statement mentions only that the funds should now go to viable firms--effectively leaving out the fuel-efficiency requirement.
That'll let Raytheon cut the cord and install an lightweight internal combustion engine of some sort, he hopes, while letting the exoskeleton keep on truckin' for over eight hours (a military requirement) before running out of fuel.
Worried that all that pent-up credit would fuel reckless lending or inflation, the Fed simply doubled the reserve requirement, transforming excess reserves into mandatory ones.
That regulation nearly doubles the mileage requirement for manufacturers, making them boost their corporate average fuel economy (CAFE) from the current standard of 29.7 mpg for cars and light trucks to 54.5 mpg.
By the end of the year, Fiat expects to increase its Chrysler holdings to 58.5% by satisfying an Obama administration requirement that it begin U.S. manufacturing of a fuel-efficient Chrysler using Fiat underpinnings.
It's similar to a proposal by the Bush administration, which calls on Congress to drop a requirement that the Energy Department's loans be used for investments in vehicle fuel efficiency.