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SEN. CORKER QUESTIONS UNITED AUTOMOBILE WORKERS PRESIDENT, CEOS OF FORD, CHRYSLER, GENERAL MOTORS AT HEARING ON STATE OF U.S. AUTO INDUSTRY

Article from: US Fed News Service, Including US State News Article date: November 19, 2008

The office of Sen. Bob Corker, R-Tenn., has issued the following news release:

U.S. Senator Bob Corker (R-TN) on Tuesday attended a Senate Banking Committee hearing with testimony from the CEOs of the Big Three U.S. automakers, Ford, Chrysler and General Motors.

The Banking hearing entitled "Examining the State of the Domestic Automobile Industry" included testimony from U.S. Sen. Debbie Stabenow (D-Michigan), UAW (United Automobile Workers union) President Ron Gettelfinger, Ford Motor Company President and CEO Alan Mulally, Chrysler Chairman and CEO Bob Nardelli, General Motors Chairman and ...

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Lehman, GM Drive Stocks Down

Posted Jun 3, 08 3:41 PM CDT in Business 

Lehman, GM Drive Stocks Down
Source: AP Photo/Katsumi Kasahara

(Newser) – The markets enjoyed modest gains before dropping sharply this afternoon as rumors swirled that Lehman Brothers may face a liquidity problem and automakers reported weak May sales, MarketWatch reports. The Dow closed down 100.97 at 12,402.85, the Nasdaq down 11.05 at 2,480.48, and the S&P 500 down 8.02 at 1,377.65. 

GM’s share price illustrated the day's trends: Boosted by a morning report of the planned cost-cutting measures, it fell after a weak sales report. Lehman led financials down off speculation that the firm may have to raise $4 billion in fresh capital. “Right now people are selling first and asking questions later when it comes not only to Lehman, but to the financials in general,'' said one fund manager.

More about:  Dow Jones • S&P 500 • Nasdaq • General Motors • Lehman Brothers • financial stocks

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 Dow Falls 678 to Sub-9,000 Close 

Dow falls below 9,000 for first time since 2003

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(Newser) - Stocks plunged in the last hours of trading today as a number of government moves did little to shore up investors' confidence, MarketWatch reports. The Dow’s losses accelerated sharply after it dropped below the psychological threshold of 9,000 points. It closed down 678.91 at 8,579.19; the Nasdaq lost 95.21, closing at 1,645.12, and the S&P 500 fell 75.02 to 909.92. More »

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 Investors Wary; Stocks Mixed 

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MarketWatch MarketWatch Sep 12, 08 3:28 PM CDT
(Newser) - The markets ended mixed today, as Lehman Brothers foundered and financial firms continued to take hits, MarketWatch reports. Weekly gains were slim, despite Sunday’s Fannie and Freddie bailout, which was supposed to calm investor fears and boost the markets. The Dow closed down 11.72 at 11,421.99. The Nasdaq rose 3.05 to 2,261.27, while the S&P 500 gained 2.64, closing at 1,251.69. More »

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