Powered by

10 years after bailouts, GM, Chrysler thrive : Detroit automakers were at crossroads in 2009

Apr 04, 2019 - USA Today
Board and Executive Moves-Bankruptcy-Organizational Restructuring

On March 29, 2009, the Obama administration put General Motors and what then was Chrysler on the path to bankruptcy. It was a thunderclap that resounded most loudly in Detroit but reverberated around the world - and ultimately cost U.S. taxpayers about $10 billion.

The controversial bailout saved hundreds of thousands of jobs and likely kept the Great Recession from being a bona fide depression.

Ford avoided bankruptcy by mortgaging everything, even its Blue Oval logo, and returned t...