What Really Happened? Penske Drops Saturn bid; GM Says Division Doomed
Roger Penske's failure will almost certainly result in Saturn's demise, and publicly, officially and finally ends the Roger Smith era at GM.
Roger Penske's failure will almost certainly result in Saturn's demise, and publicly, officially and finally ends the Roger Smith era at GM.
Murray Fromson | Posted 11.08.2009 | Entertainment
Not in many years has television given the American viewing public an example of as impressive a documentary as HBO did Monday evening with The Last Truck: the Closing of a GM Factory.
Jonathan Kim | Posted 08.14.2009 | Business
Instead of embracing the inevitable future of the auto industry, GM decided to be the #1 producer of dinosaurs.
Seth Freed Wessler | Posted 07.05.2009 | Business
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.
The Progress Report | Posted 07.05.2009 | Business
Without the government financing its bankruptcy, GM "would have ended up in liquidation, shedding 60,000 hourly jobs instead of 20,000" and selling assets at firesale prices.
Michael Moore | Posted 07.02.2009 | Business
Let's be clear about this: The only way to save GM is to kill GM. Saving our precious industrial infrastructure, though, is another matter and must be a top priority.
Jill Schlesinger | Posted 06.27.2009 | Business
Will this bankruptcy be a good financial deal for the government? I doubt it. It's rarely profitable to dump money into a money-losing, moribund bureaucratic venture.
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...
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...
bloomberg.com | Tom Moroney | Posted 06.20.2009 | Business
May 20 (Bloomberg) -- Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC...
Roger Hickey | Posted 06.17.2009 | Business
I want Barack Obama's plan to save the industry and revive manufacturing to succeed -- so I'm stepping up to do a small thing: I pledge that my next car will be made in the good old USA.
Mark Miller | Posted 06.12.2009 | Business
About three-quarters of Medicare beneficiaries have some kind of supplemental policy to help protect against potentially high out-of-pocket costs.
Steve Parker | Posted 05.31.2009 | Business
Obama talked his usual great game of absolute confidence at the end of his announcement this morning, telling the country, "If you're going to buy a new car, buy an American car."
Stuart Whatley | Posted 05.02.2009 | Politics
Surely there is nothing new about double standards in business and finance, especially in the current crisis. In fact, there may even be a rising double standard for what constitutes a double standard.
AP | Posted 05.01.2009 | Chicago
CHICAGO (AP) -- There is a bit of good news amid all the bad surrounding the auto industry. Officials of the United Auto Workers union say Ford Motor...
Leo W. Gerard | Posted 04.19.2009 | Business
AIG Chairman Edward M. Liddy gets the Creep of the Week award for his stunning, overwhelming, dumbfounding display of cluelessness.
Steve Parker | Posted 04.18.2009 | Business
Congress could throw hundreds of billions at GM, Ford and Chrysler -- but how could the results be any different from what we see now?'
AP | KIMBERLY S. JOHNSON | Posted 04.09.2009 | Home
DETROIT — Unionized workers at Ford Motor Co. have approved contract changes that include freezing wages and cutting benefits in a move aimed at...
Steve Parker | Posted 03.21.2009 | Business
Incidentally, GM got another $4 billion Tuesday after turning in their plan. Were you ever rewarded that much just for doing your homework?
Reuters | Kevin Krolicki and Poornima Gupta | Posted 03.18.2009 | Business
Talks between the United Auto Workers and General Motors Corp central to a turnaround plan for the struggling automaker have broken down over the issu...
Scott Foval | Posted 01.25.2009 | Chicago
This holiday, please remember Janesville, Newton, Middle Amana and East Moline. These people are hurting, and we need to help our neighbors get through this.
Steve Parker | Posted 01.23.2009 | Business
Congress took a perverse pleasure in giving Detroit's CEOs and the UAW president the third degree -- unnecessary theater while our country suffers this economic decline.
Joan Blades | Posted 01.22.2009 | Business
Why not convert one third of the automakers' industrial capacity to building state-of-the-art wind generation? We need to be strategic in solving our economic and energy woes.
Steve Parker | Posted 01.19.2009 | Business
This "agreement" is just another part of the recent "Bush/Cheney Revisionist History Farewell Tour." It was created to fail, just as long as that failure didn't happen while Bush was still president.
Robert Weissman | Posted 01.19.2009 | Business
Detroit does need to find a way to be economically viable over time, but the preeminent need is to ensure that auto manufacturing is viable for the planet.
Steve Parker | Posted 10.01.2009 | Business