Posted by Mark
Back in 2006 – before America’s economy took a nosedive and automakers begged at the government’s door – Ford considered its status among American automakers. The company pondered long and hard about how it got where it was and decided that going its own way was vital to its success when its brand needed help. Read on! →
The road to recovery for automakers will not be easy. That’s what General Motors Vice President of Marketing Joel Ewanick recently told Automotive News in an interview. GM has waded through bankruptcy and tremendous turnover, which might seem to make any deals designed simply to move product fast attractive. However, Ewanick insists that GM must Read on! →
If you had faith in the American government’s ability to repay you for your contribution to TARP, I have a suggestion for you: refuse to be delusional. “Faith is belief in spite of, even perhaps because of, the lack of evidence,” says Richard Dawkins. I’d say that when it comes to our money and politics, Read on! →
Republican presidential candidate Rick Santorum has an ax to grind regarding the way the Obama administration handled the automotive bailout, Automotive News reports. The former Pennsylvania senator told a Detroit, Mich., audience that he wouldn’t have floated taxpayer money to General Motors Co. and Chrysler Group LLC because he believes “too big to fail” means Read on! →
The economic climate of recession and the resulting taxpayer auto bailout apparently still has automakers gun shy, reports Automotive News. That’s because low factory inventory is becoming the rule rather than the exception lately. The result of this is that dealers need more cars to sell, as they cannot meet rising demand. An online survey Read on! →
This year is the beginning of a resurgent General Motors. The company has begun posting profits again, after it had to take billions in loans from the U.S. and Canadian governments. While in the midst of a brief period of bankruptcy protection, General Motors has begun shedding the under erforming brands. There is also a Read on! →
Chrysler Group CEO Sergio Marchionne has announced that the automaker will pay bonuses to its hourly and salaried employees, reports the Detroit Free Press. Via a corporate e-mail sent Jan. 31, Marchionne praised Chrysler employees for contributing to the introduction of 16 new or revamped cars in 2010. Bonuses will be delivered on Feb. 11, Read on! →
Posted by Mark
The Big Three domestic automakers have been desperate to recapture the market share from foreign auto firms. Since the recession began, all three firms have been trying to boost the bottom line and get more people buying American again. The auto rebate offered by the government for buying more fuel efficient vehicles helped. General Motors Read on! →
At a Campaign 2012 stop before members of United Auto Workers in Toledo, Ohio, on Thursday, Vice President Joe Biden called out Mitt Romney and the Republican Party over failure to support the auto bailouts. The Detroit Free Press reports that Biden went on to cast President Obama as an advocate of middle-class America, while Read on! →
U.S. taxpayers are still owed $132.9 billion by companies that haven’t repaid their Troubled Asset Relief Program debt, reports the Detroit Free Press. Some of it will never be recovered from the automakers that were deemed “too big to fail.” Years of auto bailout blues Launched at the zenith of the financial crisis in September Read on! →