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.Saab and Spyker will operate under the Spyker (AMS:SPYKR) umbrella, and Spyker will assume responsibility for Saab operations ... Table 8: GM Product Lines and Facilities Being Eliminated Product line Current status Location of plant shutdowns Pontiac Vibe Production ceased at the end of August 2009. ... Pontiac Production of the last Pontiac model will cease by the end of December 2010.
|Title||:||Troubled Asset Relief Program|
|Author||:||Barbara D. Bovbjerg|
|Publisher||:||DIANE Publishing - 2010-08|