Small Is the New Big

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• Dodd Endorses Big 3 Bailout as CEOs Hit Hill Again

  9 hours, 55 minutes ago
  Sen. Chris Dodd welcomed the Big Three CEOs back to the Senate Banking Committee today by declaring his support for an auto bailout, the AP reports. Chariman Dodd said inaction would be akin to playing “Russian Roulette with the economy.” He praised the automakers for making a better case for assistance than the financial industry, which won a $700 billion rescue plan.
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• In DC Corral, the Big 3 Dare Congress to Shoot

  Dec 3, 08 8:50 AM CST
  The Big Three, their creditors, the unions, and Congress are locked in “a standoff worthy of a spaghetti western,” writes Steven Pearlstein in the Washington Post. “But none really wants to pull the trigger.” In the end, there’s little doubt Congress will step in, but lawmakers know they must get concessions from all parties first. Do the Big Three’s latest proposals fit the bill? Here’s how they break down: More »

• Saving Detroit: It's Now or Never

  Dec 3, 08 7:00 AM CST
  If Congress is going to save America's auto industry it needs to quit the grandstanding and finger-pointing and take action right now, Tom Walsh writes in the Detroit Free Press. The Big Three have submitted their survival plans as requested, Walsh writes, and the figures show they aren't bluffing—they really will collapse without help.
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• Automakers Raise Request to $34B

  Dec 2, 08 8:36 PM CST
  Automakers may be returning to Capitol Hill humbled into driving instead of flying, but that won't stop them from holding out their hands for even more money. Collectively, they told Congress today to be willing to shell out a total of $34 billion in loans and lines of credit—up from $25 billion last month—or risk seeing at least two of them collapse quickly, the Detroit News reports. Company plans came out today, and the CEOs will testify later this week.
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• Hey, Mitt, Your Naked Opportunism Is Showing

  Nov 20, 08 3:43 PM CST
  Mitt Romney is speaking sideways when he talks about Detroit these days, Joan Vennochi writes in the Boston Globe. The man who promised he would “not rest until Michigan is back” in the Republican primary is now urging bankruptcy for Detroit automakers. “If the auto industry could reinvent itself as quickly as Mitt Romney,” Vennochi writes, “it wouldn't need a bailout.” More »