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The bailout required both companies to dramatically restructure their operations to demonstrate long-term viability. [77] In February 2009, the Obama administration would determine the automakers' progress in meeting the conditions of the loans, and then decide whether to supply more government aid or to force automakers to repay the loans and ...
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 ...
In late 2008, the Russian government introduced protectionistic measures, worth $5 billion, to improve the situation in the industry. This included $2 billion's worth of bailouts for troubled companies and $3 billion credits to buyers of Russian cars. [45] Prime minister Vladimir Putin described the move as vital in order to save jobs. [46]
WASHINGTON/DETROIT (Reuters) - The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry's rescue for the second time in a ...
General Motors may receive a tax break worth as much as $45.4 billion under the terms of its government-financed restructuring. The credit is a final benefit from the company's multibillion-dollar ...
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 ...
With $48.666 billion in business with the U.S. federal government, Lockheed Martin, based in Bethesda, Maryland, is the largest U.S. federal government contractor. The Top 100 Contractors Report (TCR 100) is a list developed annually by the General Services Administration as part of its tracking of U.S. federal government procurement.
This company was formed by the United States government with a 60.8% stake, the federal government of Canada and provincial government of Ontario with an 11.7% stake, the United and Canadian Auto Workers unions VEBA fund [2] with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake. [47]