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dcnovice -> RE: Red state`s largest newspaper endorses President Obama (10/20/2012 5:09:54 PM)
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quote:
Chrysler did damn good under him. With a little help, no? Realizing that the company would go out of business if it did not receive a significant amount of money to turn the company around, Iacocca approached the United States Congress on September 7, 1979 and asked for US$1.5 billion in loan guarantees. Congress reluctantly passed the "Chrysler Corporation Loan Guarantee Act of 1979" (Public Law 96-185) on December 20, 1979 (signed into law by President Jimmy Carter on January 7, 1980), prodded by Chrysler workers and dealers in every congressional district who feared the loss of their livelihoods. The military then bought thousands of Dodge pickup trucks which entered military service as the Commercial Utility Cargo Vehicle M-880 Series. With such help and a few innovative cars, Chrysler would manage to avoid bankruptcy and slowly recover. Source: http://en.wikipedia.org/wiki/History_of_Chrysler
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