October 30, 2012 |
TAMPA, Fla. - As Mitt Romney released more misleading claims about President Obama and the auto bailout on Tuesday, officials at GM and Chrysler weighed in and said the statements put forward by Romney about job losses and the offshoring of jobs were false - an unusual move for corporations, which tend to avoid entering the fray of partisan politics. Romney released a new radio ad in Ohio that continued to imply that Chrysler, the parent company of Jeep, had outsourced production to China, and in a new accusation, claimed that GM was moving 15,000 American jobs to China.
September 21, 2012 |
Arguing that it was unseemly for the federal government to be a major investor, The Times' editorial board urged the Obama administration Friday to stop waiting for General Motors stock to climb and to start selling the government's remaining stake in the automaker. It's clear that taxpayers would lose billions of dollars if Washington unloaded its GM stock now; just how large the loss would be, however, depends on how you look at the initial loans. The Special Inspector General for the Troubled Asset Relief Program has a simple way of calculating how much the taxpayers have gained or lost on TARP loans: It looks mainly at the amount of the loan and the dollars of principal repaid.
October 30, 2012 |
One of President Obama's talking points on the campaign trail has been the revival of General Motors and Chrysler, which would almost certainly have gone into liquidation had his administration not kept them afloat through a government-led bankruptcy and restructuring in 2009. But a commercial that Republican presidential candidate Mitt Romney has been airing in Ohio (and online) tries to cast Obama's actions in a considerably more negative light. That's not surprising in and of itself.
December 1, 2008
Readers from Los Angeles to New York, from Canada to Australia, were irate, chagrined, understanding and perplexed by the efforts of Detroit's three big automakers to obtain federal funds to shore up their faltering operations. But most of all, they want to see change -- even if it takes federal money to make that happen. And they have some ideas to go along with proposals in Congress, where lawmakers are expected to consider a rescue plan this week.
December 15, 2008 |
Don't expect Wall Street's turmoil to ebb in the year's last full week of trading as investors face questions about an auto bailout, the banking crisis and the Federal Reserve's final rate-setting meeting of 2008. The market, still hovering at decade lows, has yet to show any sign of a traditional year-end rally. And in the next few days it will face a number of tests that could determine whether investors are able to get past all the negative economic news to end the year on a bright note.
December 13, 2008 |
The congressional push to help U.S. automakers was generally cast in terms of protecting the reeling national economy from another body blow -- the collapse of one or more of Detroit's Big Three. But in killing the stopgap rescue plan worked out by President Bush and congressional Democrats, conservative Republicans -- many from right-to-work states across the South -- struck at an old enemy: organized labor.