chrysler

Earlier this week, Legistorm discovered that the House Clerk’s Office had posted lawmakers’ latest financial disclosure forms — scheduled for release Friday — a few days early. The Washington Post dug through the records yesterday to find that some of the top cheerleaders for the $700 billion Wall Street bailout, which the House passed in [...]

Seems that critics of the White House decision to bail out General Motors and Chrysler were right to question how well federal government would manage its enormous new investment. The New York Times reported today that the administration recently bought thousands of new vehicles, but a lion’s share of the money went to the only [...]

It comes as no surprise that the hedge funds in control of Chrysler’s debt are lashing out at President Obama for fingering them yesterday as the primary reason a Chrysler bailout deal fell through. Indeed, The Washington Post has an eye-opening piece this morning about how those secretive funds feel like they’ve been asked to [...]

You might have heard that Detroit’s automakers have been struggling recently, and also that the federal government has stepped in with offers to help the dying companies weather the storm if only they’ll revamp their business models and make some concessions regarding employee compensation.
Well, it seems that some industry executives haven’t been willing to take [...]

President Obama just announced that the General Services Administration will purchase 17,600 new fuel-efficient government vehicles by June 1, using funds from the stimulus package. All purchases will be made from Ford, General Motors and Chrysler in an attempt to revive the American auto industry.
Yet the environmental goals of the program are quite modest. Although [...]

President Obama today made official what had been leaked over the weekend: That the viability plans submitted last month by Chrysler and General Motors don’t go far enough to satisfy the administration, which is asking the ailing automakers for further restructuring as a condition of receiving more bailout funding.
We cannot, we must not, and we [...]

A proposed deal that would give Fiat a 35 percent stake in Chrysler in exchange for small car technology will depend on what new demands are placed on the struggling American automaker when the Obama administration’s auto task force announces its future bailout strategy on Monday. Automotive News reports:
The boards of Chrysler LLC and Fiat [...]

Might have seen this one coming.
When the Bush administration agreed in December to tap Wall Street bailout funds to help Chrysler and General Motors avoid bankruptcy, the two auto giants said that $17.4 billion would see them through March — $13.4 billion for G.M. and $4 billion for Chrysler.
Now the numbers are growing.

Remember when the Bush administration was opposed to tapping the $700 billion Wall Street bailout to help Detroit’s Big Three?
Fugetaboutit.
The Treasury Dept. announced last night that it will spend $6 billion from that fund to bail out GMAC, the flailing auto finance company whose reluctance to lend to riskier loan applicants has contributed significantly to [...]

A GM bankruptcy would be unprecedented, and probably controversial, because the company owns physical assets worth about $160 billion, directly employs 90,000 Americans and is an integral part of the U.S. economy. While the White House has signaled that it may come to the rescue in the short term, the pain of downsizing the auto giant would have a ripple effect across the economy.