Word: bailouts
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Dates: during 1970-1979
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...what Miller had indicated he would support only last September and a full $500 million more than the company had asked for in the first place. As a result of a confluence of economic and political imperatives, the White House had decided to proceed with the biggest U.S. corporate bailout ever, one that would far exceed the $250 million in loan guarantees extended to Lockheed during the Nixon Administration...
...concessions from its bankers, dealers, supliers, executives and workers. Everyone las been reluctant to be the first to act, and some have been downright ornery. Only three weeks ago, nearly one-third of Chrysler's 180 bankers voted against renegotiating its credit lines, arguing that even a federal bailout might not save ;he company. Now that the U.A.W. has Broken the logjam, and with the presidential primaries approaching, support for Chrysler is gaining momentum in the White House, the Treasury and Congress...
...pick up the bill." Pertec Computer Chairman Ryal Poppa warns, "Soon the Government will be asking us why we complain when they want to regulate our businesses if we're so willing to accept their help when we are in trouble." Economist Alan Greenspan finds a Government bailout wrong on principle, wrong because it would be granted not to any troubled company but only to a large one, and wrong because it would not protect jobs. Says he: "All it would do would be to freeze people into jobs without a future...
...last week that now was the time to come to the aid of the nation's most beleaguered major company. After weeks of rising pressure for a federal fix for the multiplying problems of Chrysler Corp., Treasury Secretary G. William Miller produced-and Jimmy Carter approved -a Government bailout. It was designed to prevent the nation's No. 3 automaker (1978 sales: $13.6 billion) from sliding into a bankruptcy that could have put many thousands out of work and sent a shudder through U.S. financial markets...
...loan guarantee. Senate Finance Committee Chairman Russell Long has pledged some aid for Chrysler. Says he: "It is better than letting the company fold. That would cost a lot of revenue and jobs." House Ways and Means Chairman Al Ullman is unenthusiastic but promises to expedite whatever bailout measures the Carter Administration proposes...