In a day and age when deficits are measured in billions and not millions, it nonetheless attracted quite a lot of notice when automobile industry giants GM, Chrysler, and Ford approached Congress for a piece of the govt. rescue pie. U.S. Stories reported back in September of 2008 the Bush Administration negotiated a $25 billion deal for loans to car industry heavy hitters and suppliers of the replacement convertible top.
Even last year it was obvious the 1st $25 billion for Ford, GM and Chrysler was little more than a drop in the bucket. It was surmised that this figure would double when the automakers once again appeared before the Congress and the Obama Administration. It was interesting that part of the selling point for these rescue loans was the provision that it would benefit automakers and their providers.
Tags: automobile industry, car industry, drop in the bucket, industry giants