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News Source: Denver Post
| 12 months ago
Washington is reluctant to bail out Big Auto, yet fearful of Big Auto bankruptcies. But there is a third option that no one has seriously considered...Congress could easily slap down $100 billion for roughly 5 million new cars...The Bailout Wagon...
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News Source: The Scotsman
| 12 months ago
AS THE first cold snap of winter kicks in, car workers in Swindon and Detroit are looking to each other for signs that the big freeze in their industry may show some signs of a thaw. A global slowdown is hitting car factories across the world but in...
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News Source: Channel NewsAsia
| 12 months ago
Members of the General Motors board of directors are reportedly considering all options to save the ailing auto maker, including filing for bankruptcy protection. The Wall Street Journal reported on its website late Friday that board members are now...
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News Source: Times Online
| 12 months ago
Nancy Pelosi, the Democrat Speaker of the House, who holds Washington’s purse strings, sought to reassure Wall Street yesterday by insisting that doing nothing to bail out America’s car industry was not an option and that allowing the...
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News Source: Merced Sun-Star
| 12 months ago
General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman said Saturday...GM, which...
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News Source: Contra Costa Times
| 12 months ago
Meanwhile, the companies face huge expenses and a lack of revenue because car buyers are having trouble getting financing or are delaying big purchases because of uncertainty about their jobs. October was the worst U.S. auto sales month in 25 years,...
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News Source: CNN
| 12 months ago
Ford Motor Co. may sell its fleet of five corporate jets after top executives of the three Detroit automakers were harshly criticized by members of Congress this week for their travel expenses. In a statement issued Friday, Ford ( F , Fortune 500 )...
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News Source: Asian Wall Street Journal
| 12 months ago
Members of General Motors Corp.'s board of directors are willing to consider "all options" for the ailing auto maker, including an eventual filing for bankruptcy protection, a stance that puts them in rare disagreement with Chairman and Chief...
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News Source: CNSNews.com
| about 1 year ago
UAW’s Jobs Bank – a program established more than two decades ago that guarantees nearly full salary and benefits to out-of-work employees. “Right now if a plant closes in St. Louis and a new one opens in Kansas City, the workers don’t...
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News Source: Asian Wall Street Journal
| about 1 year ago
Democratic leaders in Congress spelled out the terms Friday for Detroit's auto makers to be considered for government aid, calling on chief executives of the companies to provide a "credible restructuring plan" for their foundering businesses...House...