Word: auto
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Dates: during 2000-2009
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...Geithner's backers note that he took over an office that was drowning in crises and has had to address failing banks; impossible-to-price toxic securities; a continuing auto-bailout program; woes at Citigroup, AIG and other financial houses; a housing crisis; and an upcoming G-20 summit all at the same time. Even his detractors admit that the to-do list is the deepest any Treasury boss has faced in 80 years...
...into Chapter 11, it will end up being a simple liquidation. GM will be torn into pieces and sold off as scrap. He made one good point to support his point of view. If a bankruptcy of the No. 1 U.S. car company drags on for several months, potential auto buyers will purchase vehicles from competitors that they view as being "safe". No one wants to buy a car that won't be serviced. Wagoner has made this point before, but it is more compelling now that the deadline for the government to approve or disapprove GM's restructuring plan...
...American financial and auto industries aren't the only ones falling apart before the nation's eyes. "Imagine someone about to begin physical therapy following a stroke [and] suddenly contracting a debilitating secondary illness," researchers at the Project for Excellence in Journalism write about the news media's long-overdue embrace of the Internet in 2008, just as a global recession began wreaking havoc on the industry's biggest advertisers. "This is the sixth edition of our annual report," the authors begin. "It is also the bleakest." From magazines and newspapers to local television and radio to the ethnic...
...quick decision on the bailout. But Chancellor Angela Merkel's government wants guarantees that any cash that it doles out will not flow back to GM's embattled operations in the U.S., or go down the drain if GM goes bust. (Read a TIME story on Germany's auto industry...
...Read a TIME story on Germany's auto industry...