Archive for Chrysler
You are browsing the archives of Chrysler.
GMAC Gets $6 Billion from Treasury
The government announced Monday that it will inject $6 billion into GMAC Financial Services, an automotive financing, insurance and mortgage firm seen as essential to the survival of General Motors Corp.
The Treasury Department will give $5 billion directly to GMAC for equity shares paying an 8% dividend. The Treasury will also lend $1 billion to [...]
Bush Authorizes $13.4-Billion Plan for GM, Chrysler
President George W. Bush announced today a $13.4-billion plan to aid ailing U.S. automakers in order “shield the American people from a harsh economic blow at a vulnerable time.”
After Senate Republicans blocked the passage of a rescue package for the auto industry, the White House took money from October’s $700 billion bailout for the financial [...]
Bush Considers “Orderly” Bankruptcy for Chrysler, GM
On the same day that Chrysler announced that it would close down all U.S. factory production for at least 30 days, the White House announced that President George W. Bush and Treasury Secretary Henry Paulson were considering an “orderly” bankruptcy for Chrysler and General Motors. Both companies are seeking billions of dollars in bailout money [...]
