Friday, December 19, 2008

Bush Car and Tom Yam Kung Crisis

Bush Postpones Decision on TARP for Auto Makers Big direct effect of US financial crisis hit the carmaker they are big enough to negotiate with there goverment
Auto bail out toppic, It is the talk of the world is prople wait to hear good way to slove this problem

The Big Three US carmakers are waiting for the US government to find a way to help the struggling car industry.

Chrysler is to halt production at all 30 of its factories for one month.

GM has suspended major work on its $370m engine factory in Michigan
Last week, GM said it was shutting down 30% of its North American production.

Ford announced on Wednesday it was to extend the normal two-week Christmas shut-down at 10 of its North American plants for an extra week.
Detroit's carmakers employ nearly a quarter-million workers, and more than 730,000 others produce materials and parts for cars. If one of the automakers declared bankruptcy, some estimate as many as 3 million U.S. jobs could be lost next year.


Finally Pressident Bush alow on Auto Bailout Plan.
You can see Bush Car video from CNBC video here
http://www.cnbc.com/id/15840232?video=971798824

‘Necessary Step’
President-elect Barack Obama endorsed the plan, calling it a “necessary step” to avoid a major blow to the economy.
“The auto companies must not squander this chance to reform bad management practices and begin the long-term restructuring that is absolutely required to save this critical industry,” Obama said in a statement.

This issue you have to to get your own answer what is right or wrong about Bush Car and Tom Yam Kung Crisis

I heard from some opinion of academician in Asian they said this is Dubble Standdard if compare with what IMF did with Asian when Business was melt down in 1997 Asian financial crisis

Read more at Bitter Asians wag the finger at U.S. bank bail outs





More info about Chrysler | GM | Ford


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