Tag Archive for ‘bailout’
Chrysler to restart 7 assembly lines after emerging from bankruptcy
One week after finalizing its merger with Fiat, Chrysler announced today that it will resume volume production of vehicles with the start up of seven of its North American assembly plants the week of June 29, 2009. This is to be expected, and it’s a good thing to put Chrysler’s people back to work. As [...]
Change in the aftermarket industry? Yes we can!
Times are hard. The world is facing a global economic crisis. Every day, we hear about more layoffs from multinational corporations, multi-billion dollar bailout plans, and economic stimulus packages. People are hanging onto their money and paying the rent or feeding the family clearly takes precedence over a turbo upgrade or a set of wheels. [...]
France Gets It Right With Bailouts
Reuters is reporting that the French economic minister Christine Lagarde has said that in exchange for any bailout money from the French government, their automaker executives must forfeit their bonus checks this year. The French government also attached a requirement that automakers who receive bailouts must safeguard jobs in France if they take the money. [...]
Chrysler still doesn’t really get it, do they?
Is this how Chrysler will be good stewards for the massive truckload of cash they just received from the fed? Spend hundreds of thousands of dollars on newspaper ads? Apparently the public at large isn’t very pleased, can you blame them? This comment on the Chrysler blog sums it up nicely, “Your resignation and the [...]
Bailout Comes Through For GM, Chrysler
CNNMoney reports that the White House and Treasury Department today announced a $13.4 billion bailout for embattled automakers GM and Chrysler. Officials from the companies are expected to sign the papers later today. GM will receive $9.4 billion, while Chrysler is said to be lined up for $4 billion. We’ll see how that works out. Full story here [...]
Public displays of low self-esteem, now at TTAC
Times of crisis are anything but boring. And, while the Big 2.5 try to get their handouts from DC, the blogisphere is doing its best to sculpt public opinion along the way. The Truth About Cars (a name I consider ironic) has turned into the Bailout 24/7 network, much to the chagrin of a few [...]
Latest on the Bailout
Looking for more news on the Great Automaker Bailout of 2008? Jalopnik is running a feature this morning covering the plan, known as “bankruptcy lite.” It’s a good (short) read.
Still searching for three wise men
Without a trace of irony, a Detroit church placed three SUVs up on its altar for a prayer service in support of the automaker bailout. One each from Ford, Chevy, and Chrysler. Reuters has the gospel, with a full slideshow here. No word on whether any of the Big 3 have plans to announce a [...]
Automaker Bailout – The Saga Continues
You know things have reached a strange pass when Michael Moore and Republican Congressmen are in perfect agreement about the proposed automaker bailout. In an article at the Huffington Post (where else?) Moore says, “Let me just state the obvious: Every single dollar Congress gives these three companies will be flushed right down the toilet.” [...]
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