Search results
Results from the WOW.Com Content Network
"Any bailout of the auto industry is really a bailout for the health benefits of the UAW. That's all it is." [48] Opponents of a bailout believe that the automakers' problems could be more efficiently resolved by a bankruptcy court with legal power to dissolve existing contracts, shedding costs, and debts that it can no longer afford.
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 ...
Automakers could use these loans to "equip or establish facilities to produce ‘advanced technology vehicles’ that would meet certain emissions and fuel economy standards; component suppliers could borrow funds to retool or build facilities to produce parts for such vehicles." [101]
Under terms of a $17.4 billion bailout approved by President Bush on Friday, General Motors and Chrysler have three months to turn things around. If they don't, they have to repay the loans and ...
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 federal government's controversial decision to step in and save General Motors from insolvency was the right thing to do, the automaker's new Chief Executive Daniel Akerson (pictured) said ...
Government officials that oversaw the bailout acknowledged the difficulties in tracking the money and in measuring the bailout's effectiveness. [82] During 2008, companies that received $295 billion in bailout money had spent $114 million on lobbying and campaign contributions. [83]
Need help? Call us! 800-290-4726 Login / Join. Mail