Troubled Asset Relief Program

Troubled Asset Relief Program

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Over $81 billion has been committed under the Troubled Asset Relief Program (TARP) to improve the domestic auto industry's competitiveness and long-term viability. The bulk of this assistance has gone to GM and Chrysler, who sponsor some of the largest defined benefit pension plans insured by the federal Pension Benefit Guaranty Corp. (PBGC). This report examines: (1) the impact of restructuring on GM's and Chrysler's pension plans; (2) the impact of restructuring on auto supply sector pension plans; (3) the impacts on PBGC and plan participants should auto industry pension plans be terminated; and (4) how the federal government is dealing with the potential tensions of its multiple roles as pension regulator, shareholder, and creditor.Current status Location of plant shutdowns Announced in November 2007 that these four models were to be eliminated from ... 9: Chrysler Product Lines and Facilities Being Eliminated Product line Dodge Magnum and the Chrysler Pacifica, Crossfire, and PT Cruiser convertible. Dodge Ram pickup truck Service and parts operations Source: Chrysler documents. the company renamed Chrysler Unitedanbsp;...

Title:Troubled Asset Relief Program
Author:Barbara D. Bovbjerg
Publisher:DIANE Publishing - 2010-08


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