It was reported they paid it back. I never saw any proof. I believe it was Lee Iacoca that turned Chrysler around, no?
He said he was in favor of loans. Now, I am from Virginia. Here in VA if we borrow money, which called a loan, we are required to pay it back.
It’s not a handout, right? Or is the smear more important than letting small details in get in the way?
Let the industry continue to restructure - along the lines of Honda - Nissan - Subaru - Mercedes-Benz - BMW - Hyundai and other relatively recent car manufacturers in the United States. They start out without the legacy burdens of bad union agreements, outdated physical infrastructures and management methods, and none of the environmental liabilities. If you subsidize or support an aging and non-competitive industry - all you’ll get is more of it for a longer time, you will not avoid the inevitable reckoning.
McCain continues to underwhelm with his economics knowledge and judgment. John - rule #1 is Government should not pick technology or business winners.