December 4th, 2009 // comments (0)

CHRYSLER GOES ITALIAN

Chrysler takes U.S. taxpayer funds in the form of the auto bailout and hires an Italian ad agency.

March 16th, 2009 // comments (0)

20/20’s Stossel Slams Bailout

Watch the rest of the show here…

January 15th, 2009 // comments (0)

Senate To Vote On 2nd Bailout

I’ll update this post with the results of the vote later…:

(CNN) — President-elect Barack Obama’s political clout is being put to the test Thursday, just days before his inauguration, as the Senate votes on whether to tap into the second half of the $700 billion bailout package.

January 7th, 2009 // comments (0)

Porn Kings Call For Bailout

Joe Francis and Larry Flynt claim the economy has made America’s sexual appetite go limp, so they’re going to the one place where sex is always rampant — Congress.

Flynt (the “Hustler” guy) and Francis (the “Girls Gone Wild” dude) are asking the government for a $5 billion bailout, claiming the adult entertainment industry has taken a huge shot to the face because of the downturn — citing the fact that XXX

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December 19th, 2008 // comments (0)

White House Rescues GM, Chrysler

The White House has come to the rescue of General Motors and Chrysler by providing them with low-interest loans, ABC News has learned.

Under the plan, which could be announced as early as this morning, the auto giants will be able to stay afloat into the new year.

The White House has been talking to the Obama team on its strategy, and the incoming Democratic administration has expressed no objections to the plan.

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December 18th, 2008 // comments (0)

The Cost Of The 2008 Bailouts

Has Now Surpassed The Cost Of All U.S. Wars…:

(CNSNews.com) – The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in, according to a comparison of war costs calculated by the Congressional Research Service (CRS) and the value of the bailouts as calculated by Bloomberg News or Bianco Research.

According to CRS, all major

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December 12th, 2008 // comments (0)

Auto Bailout Dies In The Senate

Senate Republicans’ dramatic revolt against a White House-backed auto industry rescue plan is fraught with political risk.

While the high-stakes gambit places them squarely within the mainstream of anti-bailout public sentiment, at the same time it exposes the party to potentially devastating criticism that its failure to compromise doomed the Big Three automakers and deepened the economic recession.
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Administration officials have been warning for weeks that failure to pass

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December 10th, 2008 // comments (0)

Before This Auto Bailout Vote…

Let’s take a look at a glaring stat from 2007:

In 2007, Toyota sold 9.37 million vehicles.

In 2007, General Motors sold 9.37 million vehicles.

In 2007, Toyota made $17.1 billion.

In 2007, General Motors lost $38.7 billion.

The New York Times explains why and what Ford plans to do to fix the problem.

December 10th, 2008 // comments (0)

Democrats Reach Auto Bailout Deal

WASHINGTON — The White House and Democratic congressional leaders reached a tentative deal on an emergency loan program for the auto industry, FOX News learned on Tuesday.

Both the White House and congressional Democrats were putting the finishing touches on the $15 billion bill late in the evening, but the bill could still face obstacles from congressional Republicans, who have not given their seal of approval.

It looks like the House is going…

December 3rd, 2008 // comments (0)

6 In 10 Oppose Auto Bailout

A follow up to our running narrative on the auto industry bailout…:

WASHINGTON (CNN) — A national poll suggests that six in 10 Americans oppose using taxpayer money to help the ailing major U.S. auto companies.

Sixty-one percent of those questioned in a CNN/Opinion Research Corp. survey out Wednesday are dead set against the federal government providing billions of dollars in assistance the the auto makers, with 36 percent favoring such

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December 3rd, 2008 // comments (0)

Big 3 Viability Proposals Released

WASHINGTON — The nation’s gasping auto industry made its survival plea to Congress in writing Tuesday, requesting a staggering $34 billion bailout package and promising draconian cuts that would forever reshape one of America’s most important and vulnerable industries.

General Motors Corp. submitted a plea to Congress for $18 billion in loans and provided chilling new evidence that it will run short of cash to operate if it doesn’t get $4 billion

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December 2nd, 2008 // comments (0)

Big Three Back To Congress

The Big Three auto bosses will present Congress with an actual plan today to not just throw $25 billion of taxpayer money down the bottomless bailout hole. (If reports are to be believed, these executives will also endure the punishment of actually having to use their own vehicles to drive from Detroit to a new round of hearings scheduled for later this week. Everyone loves a road trip, right?)

The question is,…

November 26th, 2008 // comments (0)

Markets Close Up For Third Day

NEW YORK (Reuters) – Stocks climbed on Wednesday as bargain hunting in the tech sector and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn.

Wall St. has a fever… and the only cure is more bailouts. Is GM next?

November 25th, 2008 // comments (0)

Graph: The Auto Industry Collapse

In October, car sales dropped by 32 percent in the United States and close to 15 percent in Europe. Sales are also down in former growth markets India and Brazil, while economic growth in China is weakening.

The problem, wherever blame finally ends up, is a lack of foresight and imagination.

November 25th, 2008 // comments (0)

Update: The Cost Of The Bailout

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost:

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