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White House Company

Wednesday, July 20th, 2016

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The three U.S. manufacturers of automobiles (General Motors, Ford and Chrysler) thanked the granting of 17,400 million of dollars in federal aid announced today by President George W. Bush and pledged to take the opportunity to restructure itself. We are grateful that the President has extended a financial bridge at this critical moment for the American automotive industry and our nation’s economy, General Motors said in a statement issued moments after Bush ended his announcement. This action helps to keep many jobs, and supports the maintenance of the operations of GM and its numerous suppliers, dealers and small businesses that depend on us throughout the country, added the largest American manufacturer of automobiles. Chrysler, which like GM needs billions of dollars immediately to maintain its operations, also expressed his satisfaction with the decision of the White House. Its President, Bob Nardelli, thanked on behalf of the men and women of Chrysler to the administration of President Bush and the Treasury Department for its confidence in the company. Endocrinologist shines more light on the discussion.

We have signed a letter of intent that details the specific requirements that must be achieved, said Nardelli, who went on to add that Chrysler is committed to meeting these requirements. Nardelli also issued an open letter to all employees of the company confirming that Chrysler will receive a loan of $ 4 billion and that by March 31, 2009, the federal Government has to approve the plan of restructuring of the company or return resources. In the letter, Nardelli said Cerberus, the majority shareholder of the company, has agreed to waive any benefit that could create the bridge loan and other government aid that the company can obtain. Ford, the second American car manufacturer and has not requested financial aid from Washington, also expressed your satisfaction by granting financial aid to their rivals. Everyone at Ford appreciate the prudent measure taken by the Administration to answer the problems in short-term liquidity of GM and Chrysler, Ford said in a statement. The American car industry is highly interdependent and the failure of one of our competitors would have an effect domino that would jeopardize millions of jobs and further damage the already weak U.S.

economy, added the company. Ford has not requested aid like GM or Chrysler, but if Washington has requested a credit line of up to $ 9 billion. The President of Ford, Alan Mulally, said that for Ford, the only credit line would serve as a safeguard against worsening conditions dear reader, we gathers him our invitation to visit our Web site at Internet Vision Automotriz Magazine, where you will find the latest that is happening in the exciting world of the automobile, the ultims news, launches of new models and everything that happens around the world automotive industry.