Word: financees
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Was the fourth quarter of 2008 good to Chrysler? Since Thanksgiving it has had to cut more than 5,000 salaried jobs and close an assembly plant; it staggered through December with a 53% drop in sales. But the season was not without good tidings: Chrysler got $4 billion in...
General Motors is getting an even bigger boost. After GM collected $9.4 billion in federal loans last month, its finance arm GMAC, which GM jointly owns with Cerberus Capital LLC, got a Treasury Dept loan of $6 billion. GMAC has been hammered by both the sharp decline in sales of...
The auto industry bailout saga is working its way up and down the supply chain. Shortly before Christmas, the Federal Reserve Board quietly provided $200 million of support aimed specifically at auto dealers, who have had a difficult time financing their inventories - forcing some of them out of business. The...
Don't press the Total key on your calculator just yet. Congress is also supposed to appropriate another $3.3 billion to finance research on new high-tech batteries that could be used for cars. The money had been authorized under the same 2007 energy bill that authorized the $25 billion...
After the 1989 Tiananmen leadership purge, when Jiang Zemin and Li Peng took over from more liberal leaders, the reforms championed in the 1980s by a wave of largely rural entrepreneurs were stalled, and officials sought to reassert authority. In this "great reversal," Beijing's Xiushui Market, a thriving shopping...