Chrysler advances CARS cash to dealers

August 20th, 2009 by DaveAdmin

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.

Tags: Cash for Clunkers, Chrysler, dealers, government. Chrysler, Dealers

Politicians demand government intervention

July 8th, 2009 by DaveAdmin

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 decisions, [...]

Tags: automakers, bankruptcy, Chrysler, Congress, dealers, EPA, government, May, Obama, ratings, Sales. Chrysler, Dealers, GM

Treasury retains sole bid for GM

June 23rd, 2009 by DaveAdmin

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 [...]

Tags: bankruptcy, General Motors, government, Government loans. Auto industry, GM, Government loans

US panel rules on Chinese tire dumping

June 19th, 2009 by DaveAdmin

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 [...]

Tags: China, government, tires. Auto industry

Corker bill could force GM stock dumping

June 17th, 2009 by DaveAdmin

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 [...]

Tags: General Motors, government, Senate, Senator Corker. Auto industry, GM, Government loans

Federal car trade program reborn

June 16th, 2009 by DaveAdmin

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 [...]

Tags: Congress, government. Auto industry

FDA bill hit by Democrats, too; Cash for Clunkers on hold

June 4th, 2009 by DaveAdmin

Just as some Republicans are attempting to attach their “Congressional oversight of General Motors bailout” amendment to the FDA tobacco-regulation bill (which would, among other things, fight fraudulent claims by tobacco-product manufacturers), some Democrats have been trying to add a ”cash for clunkers” amendment to the FDA bill.
The Senate Appropriations Committee objected to using money from [...]

Tags: Congress, government, Senator. Auto industry

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