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The bailout required both companies to dramatically restructure their operations to demonstrate long-term viability. [77] In February 2009, the Obama administration would determine the automakers' progress in meeting the conditions of the loans, and then decide whether to supply more government aid or to force automakers to repay the loans and ...
The 2008–2010 automotive industry crisis formed part of the 2008 financial crisis and the resulting Great Recession.The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry.
Recommendations also included directives on improving wage and benefit structures, and developing competitive fuel efficient cars for the future. In March 2009, the Task Force recommended up to $5 billion in support for automotive industry suppliers, [ 5 ] and by late May 2009, following the recommendations of the Task Force, the U.S ...
General Motors Corp. (GM) and Chrysler have received $17.4 billion in U.S. funds (so far), which they received only after much congressional teeth gnashing. Meanwhile, American International Group ...
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American Motors Corporation (AMC; commonly referred to as American Motors) was an American automobile manufacturing company formed by the merger of Nash-Kelvinator Corporation and Hudson Motor Car Company on May 1, 1954. At the time, it was the largest corporate merger in U.S. history.
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