For years three automotive companies make water been the top automotive industries in the country making the about money. But now with the stinting crisis and a high take up for more economic vehicles, this recession has one of the top companies beg for economic relief and trying to demand the government to pass away a bailout. This bailout will give them enough money to redo their debts and recover all their financial situations. These three automotive companies that were in debt were General Motors, Ford, and Chrysler. During these past years these automotive companies were criticized in this surgical operation and many a(prenominal) bank lines were made against their efforts whether they should close down these companies because of debts or for non making a high percentage in auto sales. Other companies such as Honda and other foreign companies were lift above these companies sales and this made them fall behind their be for their industry expenses. This led to extreme debt which made them lose many of their workers and really put them in danger of losing their business. This led to the argument of the government to lend a loan for these companies so that they would resume their business in order and to put out Obama on this difficult political task of improving their future.
This bailout that was passed guaranteed 13.4 billion dollars in loans to these three companies that would be given to them to start recovering from this economic disaster. This also means that congress will give these companies a few months to start repaying the borrowed money that these industries requested. These companies will also engender an additional 4 billion dollars by February,2009. The government gave these industries a deadline where they are going to have to repay them on marchland 31, 2009. These companies assured that they will find a solution to their problem, dictum that they were willing to make hard decisions that will actually pull round their industry. Almost have of that...If you want to get a ripe essay, order it on our website: Ordercustompaper.com
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