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The auto industry is a key component of the U.S. economy. Economists used 2007–2008 data to build estimates of what a shutdown would cost in summer 2008, in order to set benchmarks to help policy makers understand the impact of bankruptcies. Such estimates were widely discussed among policy makers in late 2008. [40]
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
On Monday, the U.S. Treasury announced that it was launching a second "pre-defined written trading plan" in order to sell the government's last 241.7 million shares in General Motors . While the ...
General Motors Corp. (GM) and Chrysler have received $17.4 billion in U.S. funds (so far), which they received only after much congressional teeth gnashing. Meanwhile, American International Group ...
Just how close was Ford to going out of business? Closer than you think says Detroit News journalist Bryce Hoffman, author of "American Icon: Alan Mulally and the Fight to Save Ford Motor Company ...
Congress later passed the Chrysler Corporation Loan Guarantee Act of 1979, which re-stabilized the company, signed and approved by President Jimmy Carter in January of 1980, authorized $1.5 billion in federal loan guarantees to the Chrysler Corporation, making it the largest government bailout of a private company at the time. [5]
AJ Mast/APFiat and Chrysler CEO Sergio Marchionne MILAN and NEW YORK -- Italian carmaker Fiat has brought in a veteran of the 2009 U.S. auto sector bailout in a bid to break the deadlock in talks ...