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Topic: Effects of the 2008-2010 Automotive Industry crisis on USA
Thesis Statement: The 2008-2010 Automotive Crisis was based on the bad management of American Big Three (General Motors, Chrysler, Ford) and senate.
Outline:
ABSTRACT
1. Introduction 1.1. Background Information 1.2. Purpose of the Report 1.3. Statement of the Problem
2. Methodology
3. Findings 3.1. Bankruptcy in the Auto Industry 3.1.1. Arguments in Favor of Chapter 11 Bankruptcy 3.1.2. Arguments Against Chapter 11 Bankruptcy 3.1.3. Arguments Against Government Intervention 3.2. Federal Government Bailout Process and Timeline 3.2.1. Congressional Bailout Bill 3.2.2. Senate Rejects Bailout 3.2.3. Bush Approves Bailout 3.2.4. Second Bailout 3.2.5. Obama Address to Joint Session of Congress 3.2.6. Publication of General Motors 2008 Losses 3.3. Announcement of bankruptcy 3.3.1. Chrysler Bankruptcy 3.3.2. Bankruptcy of General Motors
4. Conclusion
5. Bibliography
Abstract
The automotive industry crisis of 2008–2010 was a part of a global financial downturn. The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of theAutomotive Products Trade Agreement.[1]The automotive industry was weakened by a substantial increase in the prices of automotive fuels[2] linked to the 2003-2008 energs which discouraged purchases of sport utility vehicles (SUVs) and pickup trucks which have low fuel economy.[3] The popularity and relatively high profit margins of these vehicles had encouraged the American "Big Three" automakers, General Motors, Ford, and Chrysler to make them their primary focus. With fewer fuel-efficient models to offer to consumers, sales began to slide. By 2008, the situation had turned critical as the credit crunch[4] placed pressure on the prices of raw materials.Car companies
Thesis Statement: The 2008-2010 Automotive Crisis was based on the bad management of American Big Three (General Motors, Chrysler, Ford) and senate.
Outline:
ABSTRACT
1. Introduction 1.1. Background Information 1.2. Purpose of the Report 1.3. Statement of the Problem
2. Methodology
3. Findings 3.1. Bankruptcy in the Auto Industry 3.1.1. Arguments in Favor of Chapter 11 Bankruptcy 3.1.2. Arguments Against Chapter 11 Bankruptcy 3.1.3. Arguments Against Government Intervention 3.2. Federal Government Bailout Process and Timeline 3.2.1. Congressional Bailout Bill 3.2.2. Senate Rejects Bailout 3.2.3. Bush Approves Bailout 3.2.4. Second Bailout 3.2.5. Obama Address to Joint Session of Congress 3.2.6. Publication of General Motors 2008 Losses 3.3. Announcement of bankruptcy 3.3.1. Chrysler Bankruptcy 3.3.2. Bankruptcy of General Motors
4. Conclusion
5. Bibliography
Abstract
The automotive industry crisis of 2008–2010 was a part of a global financial downturn. The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of theAutomotive Products Trade Agreement.[1]The automotive industry was weakened by a substantial increase in the prices of automotive fuels[2] linked to the 2003-2008 energs which discouraged purchases of sport utility vehicles (SUVs) and pickup trucks which have low fuel economy.[3] The popularity and relatively high profit margins of these vehicles had encouraged the American "Big Three" automakers, General Motors, Ford, and Chrysler to make them their primary focus. With fewer fuel-efficient models to offer to consumers, sales began to slide. By 2008, the situation had turned critical as the credit crunch[4] placed pressure on the prices of raw materials.Car companies
Bibliography: 3. Dear President-elect Obama: Here 's How to Get the Economy out of the Ditch". Knowledge@Wharton. November 12, 2008. Retrieved 2009-01-12. 4. Kane, Paul (December 12, 2008). "Auto Bailout Talks Collapse as Senate Deadlocks Over Wages". Washington Post. Retrieved 2009-01-12. 5. Isidore, Chris (2008-12-11). "Auto bailout legislation moves onto Senate - Dec. 11, 2008". CNNMoney.com. Retrieved 2009-01-12. 6. Ross, Andrew (November 17, 2008). “A Bridge Loan? U.S. Should Guide G.M. in a Chapter 11”. NYTimes.com 7 8. McCracken, Jeffrey; John D. Stoll (2008-11-15). "GM Blitzes Washington in Attempt to Win Aid". Wall Street Journal. Retrieved 2008-12-07. 9. McCracken, Jeffrey; John D. Stoll (2008-11-15). "GM Blitzes Washington in Attempt to Win Aid". Wall Street Journal. Retrieved 2008-12-07. 13. Ernst & Young (June 16, 2009). "Entrepreneurship and Innovation: The Keys to Global Economic Recovery" (PDF). Retrieved June 25, 2009 14 16. GM shares hit lowest price since Great Depression. Yahoo business news. November 20, 2008 17 22. Wingfield, Brian; Muller, Joann (December 12, 2008). Detroit”. Forbes. 23. Wingfield, Brian; Muller, Joann (December 12, 2008). "Congress Fails Detroit".Forbes. 24. Espo, David (December 12, 2008). "White House promises last-ditch auto rescue". Associated Press. Yahoo! News 25 26. Sanger, David E.; Herszenhorn, David M.; Vlasic, Bill (December 19, 2008). "Bush Approves $17.4 Billion Auto Bailout". New York Times. Retrieved 2008-12-19. 27. Bush unveils $17.4bn car bail-out". BBC. December 19, 2008. Retrieved 2008-12-19. 28. Sanger, David E.; Herszenhorn, David M.; Vlasic, Bill (December 19, 2008). "Bush Approves $17.4 Billion Auto Bailout". New York Times. Retrieved 2008-12-19. 29. "Bush unveils $17.4bn car bail-out". BBC. December 19, 2008. Retrieved 2008-12-19. 30. "TARP: Now A Slush Fund for Detroit?". The Foundry. Heritage Foundation. 2008-12-12. Retrieved 2009-01-12. 31. "Business | US car giants seek $21bn funding". BBC News. 2009-02-18. Retrieved 2009-05-01. 34. "Business | Chrysler to close 25% of dealers". BBC News. 2009-05-14. Retrieved 2009-10-06. 35. "Business | GM enters bankruptcy protection". BBC News. 2009-06-01. Retrieved 2009-10-06. 36. At Geithner 's Treasury, Key Decisions on Hold, Washington Post, May 18, 2009 37