In a recent decision that will surely carry heavy implications for the entire U.S. automobile industry, the Bush administration will NOT be providing additional taxpayer funds (in the tune of approx $8-$10 Billion) to back a Chrysler-General Motors (GM) merger. With that said, it'll be interesting to see in January '09 if a Barack Obama White House administration chooses to reverse stance on this issue and in effect, rescue the smaller Chrysler from insolvency.-----------------------------------------------------------------------------
Per the below Yahoo Finance article, some interesting Auto Industry related EMPLOYMENT figures that deserve attention:
* 355,000 Americans are directly employed by GM, Chrysler, and Ford
* 4.5 million Americans work in sectors supported by the auto industry
* Over 2 million Americans received healthcare benefits from the "Big 3" (GM, Ford and Chrysler)
* 775,000 retirees and their survivors receive pension payments from the industry
Per the below Yahoo Finance article, some interesting Auto Industry related EMPLOYMENT figures that deserve attention:
* 355,000 Americans are directly employed by GM, Chrysler, and Ford
* 4.5 million Americans work in sectors supported by the auto industry
* Over 2 million Americans received healthcare benefits from the "Big 3" (GM, Ford and Chrysler)
* 775,000 retirees and their survivors receive pension payments from the industry
yahoo.com/tech-ticker/article/104817/Paulson-to-GM-Chrysler
Data Courtesy: Yahoo Finance
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