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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 ...
The increased duties led to protests in Russian cities, most notably in Vladivostok, as the import of Japanese cars is an important sector of the city's economy. [ citation needed ] The most efficient anti-crisis measure executed by the Russian government was the introduction of a car scrappage scheme in March 2010.
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 ...
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 ...
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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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