Please vote in the poll at the end of this article. Has it really been over a year since the first emergency loans were provided to General Motors and Chrysler? In fact, it was a year on December 19, 2009. It was then that President George W. Bush and his administration decided to give...
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It’s beginning to look like Chrysler may very well survive after all. For quite some time, it has looked like the smallest of America’s domestic automotive companies would have to declare bankruptcy and be sold at the auction block, but The Associated Press is reporting that it is close to a deal with Fiat....
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In a move blamed on the failure of General Motors and Chrysler to come up with plans that are acceptable to the Obama administration, the President will announce today that there will be no more money to bailout the two American automakers. This is on top of the news that President Obama has asked...
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As the weekend draws to a close, we have been hearing that President Obama and Treasury Secretary Timothy Geithner would be unveiling plans Monday to further restructure the automotive industry in the United States. It appears that the restructuring is going to go much further than anyone had anticipated. Breaking news has it that...
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Will the bailouts never cease? It seems there is no end in sight for the federal government to stop handing out taxpayer dollars to companies who are in danger of going bankrupt. In plans file with the federal government on Tuesday, General Motors and Chrysler have said they need at least $39 billion to...
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The Bush administration, including Treasury Secretary Henry Paulson, is still in talks with the three automakers from Detroit and the United Auto Workers (UAW), trying to decide just how the Big Three will receive federal help to stay alive. President Bush seems to be convinced the economy can not withstand the effect of the...
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After the breakdown of Congressional talks Thursday night, in an attempt to work out a compromise for the Detroit automakers, it looked as if the three companies might actually have to declare bankruptcy. All of this because the UAW is unwilling to make labor and benefit concessions some Senators wanted, before they agreed to...
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Just when it looks like the bailout for the Detroit automakers may have stalled, the United States Senate is negotiating into the night, trying to hammer out an agreement that would give the automakers $14 billion in emergency funding. From The Associated Press: Labor, lawmakers and the auto industry bargained in unprecedented private talks...
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FOX News is reporting that the House of Representatives has just passed a $14 billion bailout plan to help the Big Three automakers stay alive, despite objections from Congressional Republicans, especially those in the Senate. The vote was 237 to 170 but it may be a moot point because the Senate Republicans may resort...
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Negotiators in Washington are working into Monday night, in an effort to hammer out the details of a plan that would give the Detroit automakers some $15 billion to tide them over until better economic times. It appears that in spite of the opposition to any bailout plan for the three automakers, Congress and...
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