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! →
Tag Archives: too big to fail
Congress roasts GMAC, suggests future stimulus in jeopardy In the recently released “January Oversight Report: Exiting TARP and Unwinding its Impact on the Financial Markets,” the Congressional Oversight Panel looked over the entire $700 billion TARP bailout. Among many topics across our nation’s economy, they paid particular interest to charges that GMAC received “special treatment” 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! →
In the new memoir “Decision Points,” former U.S. President George W. Bush stands behind his decision toward the tail end of his presidency to extend a $17.4 billion auto bailout. Automotive News reports that President Bush knew just four days after GM announced it was near bankruptcy – on Nov. 11, 2008 – that he Read on! →