2 ms·
There are lots of ways to consider "nationalization" but here are some examples. The US temporarily became a majority owner of GM as part of their 2009 bankrup
by stetrain 2y ago
There are lots of ways to consider "nationalization" but here are some examples.
The US temporarily became a majority owner of GM as part of their 2009 bankruptcy.
> Through the Troubled Asset Relief Program the US Treasury invested a total $51 billion into the GM bankruptcy.[93] Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11[94]-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally).[95] Local tax incentives amounted to $1.7 billion, most of them in Michigan.[96][97] A study by the Center for Automotive Research found that the GM bailout saved 1.2 million jobs and preserved $34.9 billion in tax revenue.[95]
https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reor...
https://jacobin.com/2019/10/general-motors-nationalization-uaw-strike https://jacobin.com/2019/10/general-motors-nationalization-u...
Conrail was a consolidated nationalization of multiple failed or failing railroads. In hindsight it effectively served as a way to consolidate, restructure, and then re-privatize the operation of the railroads.
https://en.wikipedia.org/wiki/Conrail https://en.wikipedia.org/wiki/Conrail
It doesn't have to mean that the government continues to operate the company directly indefinitely.