Word: chrysler
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Financial firms and automakers that took bailout money largely made up the bottom 10. In descending order, they were: Delta Airlines, Bank of America, JPMorgan Chase, General Motors, Chrysler, Goldman Sachs, Citigroup, Fannie Mae, AIG and Freddie Mac. Industry-wise, tobacco again claimed the worst reputation; last year it shared that honor with financial services, which this year held the second worst reputation. Third worst was insurance. At the top end of the industry-reputation list were technology, travel and tourism, and retail...
...Chrysler lagged behind, with sales dropping 8%. Yet Fred Diaz, the executive in charge of Chrysler sales, says Jeep vehicles sold briskly and sales of minivans and trucks were steady. (See the most important cars of all time...
Treasury considers that a firm has received exceptional financial assistance if it has received government aid outside of the initial $250 billion bank bailout, in which the government injected capital into financial firms in return for preferred shares and stock warrants. The list originally included AIG, Bank of America, Chrysler, Chrysler Financial, Citi, GMAC and General Motors. But in December, Bank of America and Citigroup struck deals with the government to get off the list. Bank of America raised nearly $20 billion from investors and paid back the government the $45 billion it was lent under TARP...
...same document cites as a challenge the "activist [Obama] Administration," which owns a 61% stake in competitor General Motors and an interest in Chrysler. Under questioning from Democratic Representative John Dingell of Michigan, Lentz denied that the company believed politics helped spur the inquiry. Other reports, however, suggested that Toyota - which has 172,000 U.S. employees and a well-oiled Capitol Hill lobbying operation that has spent nearly $25 million over the past five years - could just as easily be the beneficiary of government favoritism as the victim. (See "Who Benefits from Toyota's Recall Problem...
...year after the bailout of Chrysler and General Motors by the U.S. Treasury, anger over contract concessions is simmering within the ranks of the United Auto Workers...