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Detroit Bailout

Rattner, Obama's Car Czar, Worth At Least $188 Million

bloomberg.com | Jonathan D. Salant and Justin Blum | Posted 05.25.2011 | Business

May 28 (Bloomberg) -- Steven Rattner, the Obama administration adviser trying to orchestrate a rescue of the U.S. auto industry, has a net worth of at...

U.S. Job Market May Take 5 Years To Recover

Reuters | Emily Kaiser | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - The U.S. housing bust and auto sector upheaval have left hundreds of thousands of workers looking for jobs in the same sectors,...

Foreign Companies Will Soon Be Leading Carmakers In U.S.

usnews.com | Rick Newman | Posted 05.25.2011 | Business

Before long, you'll be more likely to get an American-made car by buying an import brand instead of a Ford, General Motors, or Chrysler vehicle. New d...

U.S. Government Expected To Own 70% Of GM

nytimes.com | MICHELINE MAYNARD | Posted 05.25.2011 | Business

DETROIT -- The government will hold a large share of a restructured General Motors after the company emerges from bankruptcy protection, and will prov...

GM Bankruptcy Deadline Nears

Yahoo! Finance | Emily Fredrix | Posted 05.25.2011 | Business

MILWAUKEE (AP) -- The clock is ticking on a June 1 deadline for General Motors Corp. to restructure, and this make-or-break week is expected to bring ...

Treasury To Lend GMAC At Least $7 Billion More

AP | Posted 05.25.2011 | Business

NEW YORK — The Treasury Department is set to inject billions more dollars into GMAC Financial Services, according to media reports. The Wall Stre...

GM Workers Struggle To Hold On To Jobs

nytimes.com | BILL VLASIC and NICK BUNKLEY | Posted 05.25.2011 | Business

Since 2006, G.M. has persuaded 60,000 of its hourly employees -- half of its union work force in the United States -- to take cash buyouts and give up...

Hooray for Emission Curbs

Diane Francis | Posted 05.25.2011 | Green
Diane Francis

America finally has a smart leader, not a good old boy from Texas and his sidekick who were in the hip pockets of the Saudis and oil interests at home...

GM Losers: 30 Shareholders That Could Get Hurt By Bankruptcy

usnews.com | Rick Newman | Posted 05.25.2011 | Business

If General Motors declares bankruptcy, some of its investors--including bondholders, other secured lenders, and the U.S. government--are likely to get...

Chrysler, GM Closures: 10 Ways To Get Huge Deals

Wall Street Journal | BRETT ARENDS | Posted 05.25.2011 | Business

Chrysler and General Motors last week said they were closing nearly 2,000 dealerships across the country as part of their restructuring plans. And tha...

The Rise and Fall of Detroit

Alec Baldwin | Posted 05.25.2011 | Business
Alec Baldwin

There can be only one legitimate response to the auto crisis. Let energy conservation and fuel efficiency rule the day. Let the carmakers go under.

Detroit's Woes Point to Growing Retiree Health Insurance Gap

Mark Miller | Posted 05.25.2011 | Business
Mark Miller

About three-quarters of Medicare beneficiaries have some kind of supplemental policy to help protect against potentially high out-of-pocket costs.

10 Cars That Sunk Detroit (SLIDESHOW)

minyanville.com | Scott Reeves | Posted 05.25.2011 | Business

Today's topic: All-American mutts - not the four-legged variety, but the clunkers that killed Detroit. Yup, Detroit's sheer incompetence in design,...

Nationalizing Chrysler

Larry Abrams | Posted 05.25.2011 | Business
Larry Abrams

The "creative destruction" argument conveniently forgets that it wasn't the "free market" that created the American Way of life, but a working class that was paid well enough to consume.

ExxonMobil -- Their "Hydrogen Plan" for Us

Steve Parker | Posted 05.25.2011 | Green
Steve Parker

Between Wall Street and the banks and the oil companies, and saving Detroit, which has been going out of business on a daily basis for 35 years, is there some way we aren't getting screwed?

Detroit Bailout Support Wanes, Reversal From December

USA Today | Posted 05.25.2011 | Business

Just one-fourth of Americans think the government should continue lending money to Detroit automakers, according to a new USA TODAY/Gallup Poll, even ...

Unions Aren't To Blame For Automakers' Woes

Mike Papantonio | Posted 05.25.2011 | Business
Mike Papantonio

If the centralized, organized mouthpiece for labor is destroyed, then so is the only advocacy vehicle available to the nonunion worker.

Save the Jeep; Save the Nation

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

Congress cannot let the Jeep die in bankruptcy. Congress must not fail the U.S. auto industry. Doing so would be abandoning the core of the American economy -- manufacturing.

Detroit's White Collar Workers: Some Worse Off Than Blue Collar Colleagues

New York Times | BILL VLASIC and NICK BUNKLEY | Posted 05.25.2011 | Business

DETROIT -- For all the ups and downs, and more downs, that white-collar workers here have lived through, they have always managed to put on a brave fa...

Geithner, Summers To Head Obama's Auto Recovery Panel

AP | STEVEN R. HURST | Posted 05.25.2011 | Business

WASHINGTON — It will take more than one "car czar" to help get the embattled U.S. auto industry back on track, President Barack Obama has decide...

Chrysler, GM Bankruptcy Looming in Detroit

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

The government may force General Motors and Chrysler into bankruptcy to assure the taxpayers get back their $17.4 billion in bailout loans. The car ...

Snow, Quayle, Feinberg and Merkin: This Is Who Gets Our Bailout Money?

Dennis O'Brien | Posted 05.25.2011 | Business
Dennis O'Brien

As a completely unregulated private equity partnership, Cerberus has no public reporting requirements. In fact, they are now refusing to disclose their finances even after the bailout.

Make Sure that Our Country Does Not Become Detroit

Jim Wallis | Posted 05.25.2011 | Business
Jim Wallis

My brother is the COO for the largest non-profit service provider in the city. His family's home is now worth less than their mortgage -- an experience now common to many Detroit area homeowners.

Even After $14 Billion in TARP Money, Detroit's on Life-Support

Steve Parker | Posted 05.25.2011 | Business
Steve Parker

With economists predicting a rough 2009, 2010 and maybe even 2011, there's not much chance of '09 and '10 car sales reaching even 2008's miserable 13.1 million.

Bottom Line: 2008 Car/Truck Sales Probably Worst Since 1974

Steve Parker | Posted 05.25.2011 | Business
Steve Parker

The only other time the industry has seen a 3-million (or more) unit plunge was following the 1974 oil shortage.