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Detroit Bailout

Obama: GM IPO Proves Government Made The Right 'Tough Decisions' On Rescue

AP | Posted 05.25.2011 | Business

WASHINGTON — President Barack Obama on Thursday celebrated the return of a reborn General Motors to the U.S. stock market, saying it shows some ...

Sales Of New Jeep Help Chrysler Cut Its Losses In Half

AP | By DEE-ANN DURBIN | Posted 05.25.2011 | Business

DETROIT -- Chrysler cut its losses in half between the second and third quarters as a new version of the Jeep Grand Cherokee notched strong sales. The...

5 Reasons To Avoid Buying GM's IPO

Posted 05.25.2011 | Business

DETROIT (BY, SHARON SILKE CARTY) -- General Motors executives are playing up three bright spots in the company's future as they try to persuade invest...

Three Fundamental Differences Between Progressives and Conservatives, Pt. 3

Terrance Heath | Posted 05.25.2011 | Politics
Terrance Heath

In the previous post in this series, I wrote: To progressives, it seems a given that of course we must do something to alleviate the suffering that th...

Obama, Grumpy Old Men and Detroit

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

Gallup's running poll breaks down support demographically, and Obama's highest percentages remain female and under 30 then drop with age. Old guys like him least. This is America's Grumpy Old Man cohort.

Chrysler Loan Leads To $2.1 BILLION Loss For Treasury

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing ou...

Detroit As a Farm

David A. Love | Posted 05.25.2011 | Politics
David A. Love

That we've reached the point of entertaining the idea--of turning Detroit into a semi-rural city--reflects both a crisis of failed urban policies, and an opportunity to rebuild from the ashes.

My "Detroit Medley": A Playlist for Our Motor City

David Wild | Posted 05.25.2011 | Entertainment
David Wild

I forever owe Detroit a huge debt of gratitude, as does anybody who's loved contemporary music this past half century. Before we bailed Detroit out, Detroit bailed us out of a lot of boredom and bad moods.

Auto Industry Will Have Little Growth In 2010

AP | TOM KRISHER | Posted 05.25.2011 | Business

DETROIT — The U.S. auto industry will recover only a little next year, weighed down by high unemployment and other troubles that will continue t...

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

AP | KIMBERLY S. JOHNSON | Posted 05.25.2011 | 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 05.25.2011 | 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 05.25.2011 | 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 05.25.2011 | 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 05.25.2011 | 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 05.25.2011 | Business
Mike Smith

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

GM, Chrysler Dealers: Lobbying Capitol Hill For Their Survival

washingtonpost.com | Dana Hedgpeth | Posted 05.25.2011 | 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...

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

Seth Freed Wessler | Posted 05.25.2011 | 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 Bankruptcies: Auto Suppliers Suffer

nytimes.com | LOUIS UCHITELLE | Posted 05.25.2011 | 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 & GM: What Happens if Your Car Blows Up?

Don McNay | Posted 05.25.2011 | 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...

Jeff Muskus

GM Bankruptcy: Best Bet For The Taxpayers' Investment?

HuffingtonPost.com | Jeff Muskus | Posted 05.25.2011 | 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...

Chrysler President James Press's $15.7M Townhouse

The New York Observer | Max Abelson | Posted 05.25.2011 | 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 ...

First, Stop the Hemorrhaging

Rev. Jesse Jackson | Posted 05.25.2011 | 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.

Crash diet: GM getting in shape for Chapter 11

AP | TOM KRISHER and KIMBERLY S. JOHNSON | Posted 05.25.2011 | 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...

Chrysler Bankruptcy: Lee Iacocca Losing Pension, Car

Yahoo! News | Emily Chasan | Posted 05.25.2011 | 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...

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...