The rising cost of gasoline and the bailout of the auto industry were major topics of contention in Tuesday night’s presidential debates. No surprises there. Presidential debate on auto industry bailout Shortly after the start of the debate, President Obama reiterated Romney’s famous remarks from his 2008 New York Times editorial, “Let Detroit Go Bankrupt.” Read on! →
Tag Archives: auto industry bailout
Michigan is the home-state of Mitt Romney, as well as being where President Obama had one of his most decisive victories when he spearheaded the auto industry’s structured bankruptcy. Now, the state, not traditionally a swing one, has become a battlefield in a neck-and-neck campaign race. New poll sees dead heat Obama, roundly celebrated as Read on! →
In a backlash to the bailout of the U.S. auto industry, a New York judge ruled earlier this week that 75 Chrysler dealers, who were terminated as part of Chrysler’s bailout bankruptcy, have the right to sue the U.S. Treasury Department. The judge agrees that the terminations were a violation of Fifth Amendment rights. The Read on! →
President Obama visited a Chrysler Jeep assembly plant in Toledo, Ohio last week. The visit comes two years after the president’s decision to spend $60 billion to bailout out Chrysler and General Motors. The president received a warm reception from a crowd, who were grateful for a decision that has kept them employed. ‘Yes We Read on! →
Chrysler has filed a complaint with the Indiana Utility Regulatory Commission, saying it wants a $2.5 million security deposit it paid to Duke Energy in 2009 returned. Chrysler demands deposit back Following Chrysler’s bankruptcy in 2008, Duke Energy, which supplies power to the Michigan-based automaker’s plants in Kokomo, Indiana, demand a $2.5 million deposit, based Read on! →
General Motors is pushing the U.S. Government to sell its remaining stock in the automaker. It says the stigma of being “Government Motors” is weighting down its chance to succeed. But the White House is refusing to sell its GM stock at a loss to the taxpayers. GM stock left from bailout In 2009, the Read on! →