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President Joe Biden may hope the United Auto Workers union will not strike the nation’s three unionized automakers. But right now about all he can do is hope. Here’s why Biden can’t do much ...
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 ...
"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.
WASHINGTON (Reuters) -The Biden administration is offering $12 billion in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles ...
The labor union United Auto Workers (UAW) represents approximately 145,000 automobile workers employed at Ford Motor Company, General Motors, and Stellantis. [14] To achieve its goals, UAW has engaged in strike action; from November 1945 to March 1946, UAW went on strike against General Motors.
On May 31, 2009, news broke that the U.S. would initially likely become the largest shareholder of the reorganized GM following a bankruptcy filing and re-emergence from bankruptcy. The U.S. government would invest up to $50 billion and own 60% of the new GM and the Canadian government would own 12.5%.
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 ...
Trump said in an executive order he was halting distribution of unspent government funds for vehicle charging stations from a $5 billion fund, ... Biden's 50% target, which was not legally binding ...