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"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.
The U.S. Senate voted and strongly opposed any source of government assistance through a bailout bridge loan (originally worth $14 billion in emergency aid) which was aimed toward helping the struggling Big Three automakers financially, despite strong support from President George W. Bush and President-elect Barack Obama, along with some mild ...
Hyundai-Kia continued its rapid success in 2009, when only a year after overtaking Honda, it surpassed Ford Motor as the world's 4th largest automaker. [26] Hyundai-Kia's continued success was unusual at a time when most automakers saw their sales falling sharply, with leading automaker GM even filing for bankruptcy. Hyundai-Kia took ...
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 ...
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President Donald Trump said on Wednesday General Motors Co should pay back the money the government spent to keep it afloat.
The Task Force was scaled back from "day to day" involvement to periodic "monitoring". [ 3 ] According to an April 2014 report of the Special Inspector General of the Troubled Asset Relief Program, the U.S. government had lost $11.2 billion (~$14.2 billion in 2023) in its rescue of General Motors.
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