Search results
Results from the WOW.Com Content Network
Chrysler ended the first half of the year with $9.4 billion in cash, but expected to end the year with only $2.5 billion in cash, and was concerned that it might not make it through the first quarter of 2009 without the loan. [citation needed] Automakers have already submitted applications for more than $20 billion in retooling loans to pay for ...
Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
The loan program, created in 2007, requires a "reasonable prospect of repayment" of the loan. Under Biden, the program has announced deals totaling $33.3 billion, including $9.2 billion for ...
In September 2008, the Big Three asked for $50 billion to pay for health care expenses and avoid bankruptcy and ensuing layoffs, and Congress worked out a $25 billion loan. [93] By December, President Bush had agreed to an emergency bailout of $17.4 billion to be distributed by the next administration in January and February. [ 94 ]
Automakers are fearful of being tagged as seeking a new government bailout so soon after the 2009 government-funded auto restructurings. Detroit has not sought industry-specific assistance ...
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
President Joe Biden’s pledge to make electric vehicles the center of his clean energy economy is hitting a roadblock: one of his party’s most powerful allies in the labor movement.
The agreement is contingent on Canada being allocated 20% of GM's North American, and getting billions of dollars in federal and provincial taxpayer support, which Lewenza stressed will be loans. However, some suggested that this would not be the final time that automakers would request a bailout. [13]