Posted on August 20th, 2009 • by David Zatz
Chrysler Group LLC today announced it will advance its Chrysler, Jeep and Dodge dealers monies for Car Allowance Rebate System (CARS, more commonly known as “Cash for Clunkers”) claims submitted. While the U.S. Department of Transportation is making progress in processing submitted claims, advancing the monies will help dealers’ cash flow.
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Posted on July 8th, 2009 • by David Zatz
Republican and Democrats alike have led the charge to have the government override private industry’s decisions as 202 Congressmen cosponsored a bill which would prevent GM and Chrysler from dropping dealers while in bankruptcy. In Chrysler’s case, the dealerships have already lost their franchises and some have closed. The proposal would overrule bankruptcy law, judicial [...]
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Posted on June 23rd, 2009 • by David Zatz
General Motors confirmed today that no organizational other than the Treasury has submitted a bid for the giant automaker, until recently the world’s largest. The U.S. Treasury is likely to continue with its plan to provide up to $30 billion in Chapter 11 financing to keep the automaker alive. The next step is a hearing [...]
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Posted on June 19th, 2009 • by David Zatz
In what might be a sign of tougher trade policies, the U.S. government’s International Trade Commission rules that low-cost tires imported from China had flooded the market. Acting on a 2005 complaint from the United Steelworkers, whose members make the steel wire used in tires, the panel found that the Chinese tires had flooded the [...]
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Posted on June 17th, 2009 • by David Zatz
Senator Bob Corker of Tennessee, who was a spokesman for allowing domestic automakers to be liquidated until he discovered a GM plant in his state, and Mark Warner of Virginia have announced their intent to introduce a bill demanding “oversight” of companies more than half-owned by the government, which would include AIG, Citigroup, and General [...]
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Posted on June 16th, 2009 • by David Zatz
The House of Representatives has attached a Federal rebate program for buyers of new cars to a completely unrelated war spending bill in order to fast-track. This greatly increases the likelihood of passage of the program, which would provide $3,500 to $4,500 for people who trade in their old car for new ones that get [...]
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