Word: bailouts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...more aware of that need than Barack Obama, who carried Michigan by a huge margin. The President-elect is committed to helping the Detroit Three, and House Speaker Nancy Pelosi is leading a rescue party that plans to get a bailout bill in front of President Bush before Thanksgiving. So far, the President has offered only to speed through Congress an already approved $25 billion loan to help Detroit create new fuel-efficient models. But GM needs an additional $10 billion simply to pay its bills next year and $15 billion more to close plants, compensate redundant workers and dump...
...bailout won't spare GM or its workers pain. Assuming the government bridges GM to the future - or provides debtor-in-possession financing in a bankruptcy - there is still a ton of restructuring to do. The company operates 21 plants in North America and has three more that are scheduled to close. But Grant Thornton's Rodriguez says that still leaves five to go to match demand. "They still need to take structural steps: reduce suppliers, reduce the number of plants, reduce the cost structure and get rid of excessive debt." Most analysts say GM has to dump underperforming brands...
...ends up, is it worth the price to get there? Put another way, does GM deserve to be bailed out or left at the mercy of the market and almost certain death? "The University of Chicago training in me says the market should prevail," says Schrager. "But the Chrysler bailout was a success, and, gosh, I'd love to save it." That sentiment is not shared by everyone, and it goes to the heart of the central economic debate facing the country - between hard-nosed capitalists, who believe the market should decide, and public-policy types who view the economy...
...Treasury Department's efforts to stabilize the financial system may push a number of banks out of business. In the past few weeks, as many as 67 financial firms have received a portion of the $700 billion bailout approved by Congress. But absent from the list of companies approved for the government's Troubled Asset Relief Program (TARP) are a handful of midsize banks, which rank among the 50 largest in the nation by the Federal Reserve. And that has a number of analysts and investors who follow these companies worried. "It's a case of be careful what...
...dozens of large and small banks have already announced that they have received or expect to receive a capital infusion from the $700 billion bailout fund. Nearly a third of the fund has already been spent, and Treasury Secretary Henry Paulson said on Wednesday that he would like to use some of the remaining money to support the ailing market for such consumer debts as credit cards and college loans, as well as to prevent foreclosures. That leaves a dwindling fund left for the hundreds of banks still hoping to get TARP funds. Analysts and investors are growing concerned that...