Detroit Bailout

Obama Admin Plans To Sell Car Shares As Soon As It Can

AP | KIMBERLY S. JOHNSON | Posted 08.27.2009 | Politics


DETROIT — The federal government plans to sell its shares in General Motors Co. and Chrysler Group LLC as soon as it can, the head of the autos ...

Auto Giants Reposition Globally

Diane Francis | Posted 08.24.2009 | Business


Diane Francis

Cars are not longer just big business; companies have to build vehicles, but also be able to create multilateral partnerships which include workers, politicians, civil servants and investors.

Lear, GM, Ford Supplier, Files For Bankruptcy

AP | DAN STRUMPF | Posted 08.07.2009 | Business


NEW YORK — Automotive parts supplier Lear Corp. filed for bankruptcy protection on Tuesday after receiving support from lenders and bondholders ...

The Military Industrial Complex: Truck You, Detroit, or Tanks for Nuttin' Update

Reese Schonfeld | Posted 08.02.2009 | Politics


Reese Schonfeld

Our military procurement system is a mess. Our automobile industry is a mess. We might have helped both if we had gotten them to agree to build the next generation of military vehicles together.

Fiat Chrysler Deal Finalizes

Yahoo! Finance | Posted 07.11.2009 | Business


DETROIT (AP) -- Italian automaker Fiat says it has closed a deal to take over Chrysler's good assets, forming a new company and clearing the way for ...

This is Not My Grandfather's GM (In Memoriam or Rebirth)

Mike Smith | Posted 07.07.2009 | Business


Mike Smith

Our clan was a GM Family. That is, until I bought an Acura and I have never looked back.

GM Bankruptcy Hurts People of Color Hardest. Workers Desperately Need EFCA.

Seth Freed Wessler | Posted 07.05.2009 | Business


Seth Freed Wessler

In the economy we've inherited from the last three decades of deregulation and declining union density, people of color are increasingly relegated to low-wage, precarious work that pays too little to support a family.

GM, Chrysler Dealers: Lobbying Capitol Hill For Their Survival

washingtonpost.com | Dana Hedgpeth | Posted 07.05.2009 | Business


Jack Fitzgerald, owner of nine Washington area dealerships -- seven of which are on the chopping block by General Motors and Chrysler -- left his head...

Chrysler & GM: What Happens if Your Car Blows Up?

Don McNay | Posted 07.04.2009 | Business


Don McNay

I know I'll never forget that horrible sight, I guess I found out for myself that everyone was right. Won't come back from Dead Man's Curve. -Jan a...

GM, Chrysler Bankruptcies: Auto Suppliers Suffer

nytimes.com | LOUIS UCHITELLE | Posted 07.04.2009 | Business


For nine years, the Strong brothers, Mark and Tim, made tools in their machine shop to maintain the giant presses that stamped steel sheets into fende...

Chrysler President James Press's $15.7M Townhouse

The New York Observer | Max Abelson | Posted 07.02.2009 | Business


This week, Mr. Press' townhouse at 178 East 64th Street went on the market for $15.7 million--or $35,000 per month. "It wasn't appropriate. He bought ...

Jeff Muskus

GM Bankruptcy: Best Bet For The Taxpayers' Investment?

HuffingtonPost.com | Jeff Muskus | Posted 07.02.2009 | Business


Detroit couldn't be allowed to collapse. It was one of the very few things the Obama transition team and the outgoing Bush administration agreed on in...

First, Stop the Hemorrhaging

Rev. Jesse Jackson | Posted 06.30.2009 | Business


Rev. Jesse Jackson

Clearly, the hemorrhaging of jobs is outpacing the stimulus. We need a new, comprehensive strategy, a bailout plan that is connected directly to reinvesting in and reindustrializing America.

Chrysler Bankruptcy: Lee Iacocca Losing Pension, Car

Yahoo! News | Emily Chasan | Posted 06.29.2009 | Business


NEW YORK (Reuters) -- Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension...

Crash diet: GM getting in shape for Chapter 11

AP | TOM KRISHER and KIMBERLY S. JOHNSON | Posted 06.29.2009 | Business


DETROIT — The speed at which General Motors Corp. exits bankruptcy protection would depend a lot on the shape the company is in when it enters. GM h...

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

bloomberg.com | Jonathan D. Salant and Justin Blum | Posted 06.28.2009 | 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 06.27.2009 | 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 06.27.2009 | 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 06.26.2009 | 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 06.26.2009 | 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 ...

GM Workers Struggle To Hold On To Jobs

nytimes.com | BILL VLASIC and NICK BUNKLEY | Posted 06.21.2009 | 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...

Treasury To Lend GMAC At Least $7 Billion More

AP | Posted 06.21.2009 | Business


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

Hooray for Emission Curbs

Diane Francis | Posted 06.20.2009 | 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 06.19.2009 | 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 06.18.2009 | 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...