Federal Bail Out Programs
Federal Loan and Government Bail Out Program Stories
June 30, 2009 - General Motors, Detroit MI
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Uncertainty Clouds Recovery of U.S. Investment in GM Carmaker's Shares Would Have to Hit A Historic High |
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June 19, 2009 - US Senate, Washington D.C.
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'Cash-for-Clunkers' Bill Passes in Bid To Revive Car Sales Trade-In Plan Set for Obama's Signature |
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June 1, 2009 - President Obama and GM Bankruptcy, Washington D.C.
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Obama Is Upbeat for G.M.’s Future President Obama marked the lowest point in General Motors’ 100-year history — its bankruptcy filing on Monday — by barely mentioning it, instead focusing his remarks on the second chance G.M. will have to become a viable company with more government aid. |
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May 31, 2009 - The American Auto Industry Overhaul, Washington DC
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After Many Tuneups, A Historic Overhaul A Global Industry Is Transformed In Race to Reinvent U.S. Automakers In the space of five head-spinning months, the economic downturn and a few strong-willed financial officials in the Obama administration have done what legions of car executives, consultants and policymakers had failed to do in three decades: overhaul the U.S. car industry. |
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| May 31, 2009 - Brian Deese - Obama Auto Team, Washington D.C. | |
The 31-Year-Old in Charge of Dismantling G.M. It is not every 31-year-old who, in a first government job, finds himself dismantling General Motors and rewriting the rules of American capitalism. |
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May 29, 2009 - Harry J. Wilson - Obama Auto Team, Washington D.C.
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Young Hedge-Fund Executive Helps Steer Obama Auto Team In the effort to save General Motors Corp., the U.S. field general is a little-known 37-year-old named Harry J. Wilson. |
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Harry J. Wilson in a Harvard Crimson archival photo. He graduated in 1993. |
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May 11, 2009 - Chrysler & Federal Auto Task Force, Washington D.C.
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| U.S. Forced Chrysler's Creditors to Blink ......"And not a penny less," said James B. Lee Jr., vice chairman at the bank, in a call to auto task-force boss Steven Rattner on March 29.....The next day, Mr. Obama called the banker's bluff. |  |
May 2, 2009 - Federal Auto Task Force, Washington D.C.
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| Chrysler’s Fall May Help Obama to Reshape G.M. |  |
April 28, 2009 - President Obama, Chrysler, General Motors, Washington D.C.
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| Early Resolve: Obama Stand in Auto Crisis |  |
April 23, 2009 - Canada and Ontario Governments
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Canada prepared to offer auto giants $6-billion in financing Debtor-in-protection loans considered less risky, but would still put unprecedented burden on taxpayers |
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April 17, 2009 - Steven Rattner - J.P.Morgan Chase, Citigroup, Morgan Stanley and Goldman Sachs - Washington D.C.
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At a meeting with executives from four of the nation's largest banks earlier this month, the chief of the government's auto task force, Steven Rattner, delivered a message that shocked some in the room. "People's jaws just dropped," said a person familiar with the discussions. |
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Follow - Up Story - Banks Reject Proposal |
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April 6, 2009 - President Obama - Auto Bailout Politics
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For Obama, politics may be hard to avoid in auto bailout Given Obama's ties to the United Auto Workers and his reliance on Ohio, Michigan and Indiana to win the election, he has 'to be very careful' about alienating a key political ally in the Rust Belt. |
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April 5, 2009 - Steven Rattner, Washington D.C.
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Obama’s Top Auto Industry Troubleshooter The Obama administration decided not to have an independent car czar, as was proposed in a House bill late last year. Instead, the administration chose to use a task force, giving President Obama the ability to be more directly involved in seeking solutions to the auto industry’s problems. |
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March 31, 2009 - Russia Government Aid, Togliatti Russia
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Russia Promises Auto Aid Kremlin Pledges Over $1 Billion in Bid to Avoid Layoffs |
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| Prime Minister Vladimir Putin visited Avtovaz in Togliatti, Russia, on Monday. | |
March 30, 2009 - GM and Federal Auto Task Force, Washington D.C.
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U.S. Sees a Smaller Future for G.M. Than G.M. Does The mandate for G.M. to change was made clear by President Obama on Monday. |
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March 30, 2009 - President Obama, Washington D.C.
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Obama Is Stern With Automakers Help Is Promised, but Without More Concessions and Cuts Bankruptcy May Loom |
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March 30, 2009 - Federal Auto Task Force, Washington D.C.
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White House questions viability of GM, Chrysler Obama gives Chrysler 30 days to join Fiat, forces Wagoner out at GM |
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March 27, 2009 - Federal Auto Task Force, Washington D.C.
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Autos task force readies aid announcement President Barack Obama will announce the next steps to help General Motors Corp and Chrysler LLC on Monday, the White House said, amid signs of progress for GM in talks aimed at slashing its debt and cutting costs in response to slack demand. |
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March 21, 2009 - Federal Auto Task Force, Washington D.C.
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Obama auto team recruiting Task force e-mail invites Wall St. financial experts -- with no recent industry experience -- to apply. |
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March 16, 2009 - Obama Auto Task Force, Washington D.C.
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| Obama auto task force: Bankruptcy not our goal |  |
March 11, 2009 - Automaker Lobby Budgets, Washington D.C.
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Carmakers Lobbying as They Get Bailout Money GM, Chrysler Spent $7.3 Million in 4th Quarter |
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March 10, 2009 - Federal Auto Task Force Team Visits GM & Chrysler in the Motor City, Detroit MI
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Auto team's visit gives rise to hope Obama's group sees firsthand challenges GM, Chrysler face |
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March 6, 2009 - Auto Task Force Meeting - White House, Washington D.C.
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| White House spokesman Robert Gibbs said before the meeting that the team was trying to figure out how government could be "the best partner" for an industry wracked by credit woes and staggering sales declines that worsen monthly. |  |
February 23, 2009 - Federal Auto Task Force, Washington DC
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Obama Auto Team Drives Imports The vehicles owned by the Obama administration's auto team could reflect one reason why Detroit's Big Three automakers are in trouble: The list includes few new American cars. |
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| Steve Rattner owns a 2008 Lexus LS 460 sedan | |
February 23, 2009 - Steven Rattner and U.S. Treasury Department, Washington DC
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| New York Financier Steven Rattner Picked as Top Adviser on Auto Industry Bailout |  |
February 23, 2009 - Outside advisers to the U.S. Treasury , Washington DC
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Bankruptcy Funding Solicited for Car Makers Outside advisers to the U.S. Treasury have started lining up the largest bankruptcy loan ever, talking with banks and other lenders about at least $40 billion in financing for General Motors Corp. and Chrysler LLC, in case the two auto makers need it, said several people familiar with the matter. |
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February 19, 2009 - Federal Automotive Bail Out Total
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Bottom line: U.S. auto industry says it needs $97.4 billion to live Obama says U.S. aid does have limits.....$874 per household for all of USA... |
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February 18, 2009 - Several Economists and Auto-Industry Experts Offer Opinions On Bail Out
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Another Bailout? |
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MARK ZANDI Chief economist at Moody's Economy.com |
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February 17, 2008 - General Motors and Chrysler, Detroit MI
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| Automakers Seek $14 Billion More in Aid |  |
February 15, 2009 - President Obama, Detroit MI
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| To Fix Detroit, Obama Is Said to Drop Plan for ‘Car Czar’ |  |
February 10, 2009 - French Government Aid Program
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France Gives Help to Renault, Peugeot In Return for $8.4 Billion in Low-Interest Loans, Auto Makers Agree Not to Close Factories or Lay Off Employees |
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| France's President Nicolas Sarkozy visiting auto factory | |
January 27, 2009 - Auto Parts Suppliers, Nationwide
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| Struggling Auto Parts Suppliers Prepare to Seek Federal Aid |  |
January 21, 2009 - Timothy Geithner at Senate Finance Committee, Washington D.C.
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| Treasury nominee calls for big changes in Detroit 3 |  |
January 13, 2009 - Steven Rattner, New York NY
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| Steven Rattner, Possible 'Car Czar,' Faces Questions |  |
January 1, 2009 - Treasury Department, Washington D.C.
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| Treasury Maintains Leeway in Auto Aid...... Officials Reserve Right to Change Bailout's Terms |  |
| Rumor: Henry Paulson will require automakers to pay a $1Billion Documention Fee. | |
December 21, 2008 - Dick Cheney, Washington D.C.
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| Vice President Dick Cheney blamed Congress for failing to bail out the auto industry, saying the White House was forced to step in to save U.S. car companies. |  |
December 19, 2008 - George Bush, White House Washington D.C.
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| President Bush on Friday announced $13.4 billion in emergency loans to prevent the collapse of General Motors and Chrysler, and another $4 billion available for the hobbled automakers in February with the entire bailout conditioned on the companies undertaking sweeping reorganization plans to show that they can return to profitability. |  |
December 13, 2008 - The White House, Washington D.C.
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| White House Ready to Aid Auto Industry |  |
December 12, 2008 - The Senate, Washington D.C.
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| The Senate on Thursday night abandoned efforts to fashion a government rescue of the American automobile industry, as Senate Republicans refused to support a bill endorsed by the White House and Congressional Democrats. |  |
| December 11, 2008 - House of Representatives, Washington D.C. | |
House Passes Rescue Plan for Big Three Auto Makers Poised to Get $14 Billion in Loans, but Bill Will Be Tough Sell in Senate |
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Sen. Richard Shelby of Alabama, above, says the proposed rescue of U.S. auto makers is a waste of taxpayer dollars. |
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| December 10, 2008 - Congress & White House, Washington D.C. | |
| The White House and congressional Democrats yesterday reached an "agreement in concept" on a plan that would throw a government lifeline to the faltering Detroit auto industry but require the auto giants, their workers and creditors to quickly negotiate a path to profitability or face the prospect of bankruptcy. |  |
December 9, 2008 - Congress, Washington D.C.
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| Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry and a central role in its restructuring. |  |
December 8, 2008 - CBS News Poll
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| Poll: Americans Split On Big 3 Bailout - While a majority of Americans believe that bankruptcy for U.S. automakers would have a major impact on the economy, they are evenly split about the prospect of government financial assistance for the big three. |  |
December 8, 2008 - Chris Dodd, Washington D.C.
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Dodd: Rising joblessness forces aid for automakers Sen. Chris Dodd said Monday that soaring unemployment amounts to a "game-changer" in the debate over financial aid to the auto industry. |
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December 7, 2008 - Carl Levin, Washington D.C.
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| A compromise pact to provide at least $15 billion in loans to General Motors Corp. and Chrysler LLC could be unveiled within the next 24 hours, Michigan Sen. Carl Levin said Sunday. |  |