A glut of unsold trucks sits on General Motors dealers’ lots. Two auto plants in Indiana and Michigan stand idle, and it appears that the taxpayers aren’t out of the woods yet. GM still faces serious problems, being made worse by impending regulations. The Detroit Free Press reports: “Supply of Silverados …
The taxpayer-funded auto bailout was largely the result of a number of poor decisions made by General Motors and Chrysler. Along with the excessively high labor and legacy costs, Detroit’s dependence on big, non-fuel-efficient vehicles was its own doing and at one time, was a very profitable strategy. Detroit struggled …
After suffering major electoral and legislative defeats last month, President Barack Obama took to the campaign trail in Nashua, New Hampshire, pitching his administration’s latest new plan to lower our nation’s double digit unemployment rate. This time, the President hopes to do for small businesses what Fannie Mae and Freddie Mac …
Facing rising populist anger over his administration’s billion-dollar bailouts, President Barack Obama proposed a $117 billion tax over the next 12 years on financial companies with assets of more than $50 billion. “We want our money back, and we’re going to get it,” the President said. The President is half …
When the government bailed out General Motors and Chrysler, part of the necessary, painful road to recovery was to cut unnecessary dealerships. Before the cuts GM and Chrysler had over 9,000 independent dealerships in the United States. To save costs, GM and Chrysler cut 1,300 and 800 dealerships, respectively – …
There’s new evidence that General Motors and Chrysler, both owned partly by taxpayers, are still facing interference in the way they are run. The latest example comes not from the Obama Administration, but from Congress. At issue are the closures of over 2,000 dealerships announced by the two firms last …
