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 …
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 – …
It’s been used to buy one car company, give another to union allies, punish non-union workers, undermine the bankruptcy code, enrich Wall Street at the expense of Main Street, keep unionized Zombie firms from dying, and generally terrorize the world economy. Now the left in Congress wants to use it …
At a speech at a General Motors Assembly plant in Lordstown, Ohio, President Obama restated his regret for government interference in the auto industry claiming the decision was out of necessity rather than choice. In what many called a campaign-like speech, the President asserted: As I’ve said before, I didn’t …
The Obama Administration’s claims that General Motors — the federally-owned auto manufacturer — is independent from political entanglements is once again being tested, this time with an international twist. The issue is what to do with Opel, GM’s German-based European subsidiary (as well as the smaller, British-based Vauxhal). Last week, …
From Bloomberg: “The U.S. “cash for clunkers” vehicle trade-in program, credited with reviving auto sales and criticized by dealers for slow reimbursements, will close on Aug. 24, Transportation Secretary Ray LaHood said.” The government extended the $1 billion program into a $3 billion program and although the program is now …
