Tagged “Federal loans”

  • Chrysler receives $4 billion in restructuring loans

    Late Friday evening Chrysler received its first $4 billion in government loan money from the $17.4 billion approved as an emergency measure late in December, pushing its bottom line closer to the $2.5...

  • Canada approves $3.3 billion auto industry bailout

    After conditionally approving an bailout package for the Detroit 3 carmakers that was dependent on the U.S. government approving its own aid fund, Canada’s lawmakers have agreed to offer up to CAD$4...

  • Honda, GM announce massive Q1 2009 production cuts

    The car market continues to worsen even as the auto loan bill flounders in Washington. Honda and General Motors today have announced huge production cuts for the first quarter of 2009, totaling over o...

  • Auto loan bill could stall in Senate

    The $14 billion auto loan bill passed by the House late yesterday may stall out in the U.S. Senate under fire from Republican opposition. The GOP wants more concessions from the UAW and more concrete...

  • 2009: The beginning of the Detroit 2?

    Detroit's major auto manufacturers could soon find that three certainly is a crowd when it comes to the world automotive market. CSM Worldwide is predicting 2009 to be the worst year in U.S. automotiv...

  • Detroit 3 bailout likely to come with 'car czar'

    With the legislation for a loan package to secure the immediate futures of the Detroit 3 is reaching the 'discussion draft' stage today, talk of an overseer to administer the funds has begun. The bill...

  • GM renews commitment to American people

    No one in the U.S. can reasonably be unaware of the current condition of the U.S. car market or its primary domestic companies. The carmakers' current pleas to the U.S. Congress for federal loan packa...

  • GM CEO will head to Washington in a Chevrolet Volt

    Previously we reported that GM CEO Rick Wagoner would be driving a Malibu hybrid to Washington for this week's auto industry bailout hearings, however it has come to light that he will actually be dri...

  • Obama reaffirms commitment to auto industry aid

    During his campaign for U.S. President, Barack Obama repeatedly declared his support for the auto industry and indicated he would support it against the tide of the economic downturn. Today President-...