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The Chrysler Fallout: Obama Takes Sides
The Chrysler Fallout: Obama Takes Sides by Francis Cianfrocca Chrysler LLC’s bankruptcy filing represents something very new and different for the American economy. We don’t have all the answers, but that’s partly because we don’t even have all the questions. There’s a tremendous number of moving parts here, and no one is being very clear about it.Chrysler Won't Pay Back Government Money Loaned So Far.
Jim Lindgren Chrysler Won't Pay Back Government Money Loaned So Far. Buried in the Chrysler filings was the revelation that US government investments in Chrysler will not be paid back, though the government will probably take an 8% equity interest in Chrysler: Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing.Iacocca losing pension, car in Chrysler bankruptcy
NEW YORK (Reuters) – Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the U.S. automaker's bankruptcy filing two decades later. Chrysler CEO Robert Nardelli told a U.S.Chrysler and the Rule of Law
Chrysler and the Rule of Law The Founders put the contracts clause in the Constitution for a reason.Article more in Opinion »Email Printer By TODD J. ZYWICKI (Wall Street Journal) The rule of law, not of men -- an ideal tracing back to the ancient Greeks and well-known to our Founding Fathers -- is the animating principle of the American experiment. While the rest of the world in 1787 was governed by the whims of kings and dukes, the U.S.Ginsburg Orders Stay on Chrysler Sale
The Supreme Court Gives Chrysler's Evil Speculator Some Hope Shikha Dalmia June 9, 2009, 9:47am In President Obama's auto morality tale there are good guys and there are bad guys. The good guys are those who do his bidding. And the bad guys are those who don't.Chrysler files Chapter 11
WASHINGTON – Chrysler LLC filed for bankruptcy protection Thursday and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation's ailing third-largest automaker. The Obama administration said it had long hoped to stave off bankruptcy, but it became clear that a holdout group of creditors wouldn't budge on proposals to reduce Chrysler's $6.9 billion in secured debt. Clearing those debts was a needed step for Chrysler to restructure by a government-imposed Thursday deadline.The Big 3
***PUBLIC POST*** Ford tells Congress it may be able to go it alone By JULIE HIRSCHFELD DAVIS and TOM KRISHER, Associated Press Writers WASHINGTON – Humbled and fighting for survival, Detroit's once-mighty automakers appealed to Congress with a retooled case for a huge bailout Tuesday, pledging to slash workers, car lines and executive pay in return for a federal lifeline. GM said it wouldn't last till New Year's without an immediate $4 billion and could drag the entire industry down if it fails. General Motors Corp., asking for as much as $18 billion to keep afloat and survive even worse economic storms, painted the direst portrait to date of what could happen if Congress doesn't quickly step in.Obama Policy as Bankrupt as Chrysler
Obama Policy as Bankrupt as Chrysler by John Berlau It was the biggest bankruptcy of an American automaker, as well as one of the biggest bankruptcies in U.S. history. Yet the stock market barely moved when Chrysler’s expected bankruptcy was announced early Thursday morning and moved significantly upward on Friday after the Chapter 11 bankruptcy filing.Emergency Filing: Chrysler Creditors Take Obama to Supreme Court - UPDATE!
PUBLIC POST * About time this was done!! Hopefully this will be the beginning of reining in these imperial decisions. This is nothing short of Americans asking the Judiciary Branch to step in and exercise its check and balance powers to stop an out-of-control Executive Branch.Treasury to order bailed-out firms to slash pay
WASHINGTON – The Treasury Department on Thursday is expected to order seven companies that have not paid back last year's government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by as much as 90 percent, according to a person familiar with the matter. Kenneth Feinberg, the special master at Treasury appointed to handle compensation issues as part of the government's $700 billion financial bailout package, is making the pay decisions.
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