Tag: Detroit 3

UAW President’s statement on Ally Financial TARP final sale

On Friday, U.S. Treasury Secretary Jacob Lew announced the final sale of Troubled Assets Relief Program (TARP) stock involved in the rejuvenation of the U.S. auto industry. In all, the unprecedented work of the UAW, the auto companies and the U.S. government yielded $15.35 billion in profit. It also saved 1.5 million jobs and preserved $105.3 billion in personal and social insurance tax collections, according to a 2013 study by the Center for Automotive Research. UAW President, Dennis Williams The following statement by UAW President Dennis Williams can be used in whole or in part: “Together, the members of the ... Read more