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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Big Three

Big Three stories: 79 news summaries

41 - 60 of 79 Stories | << Prev 1 2 3 4 Next >>

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Analysis

Sound the Chrysler Death Knell: Analysts

Unprofitable lines are likely to kill automaker despite bailout

Dec 11, 08 8:33 AM CST
(Newser) - Chrysler’s lack of profitable vehicle lines will lead to its demise, reports the Detroit Free Press, regardless of whether the feds jump in with a bailout. With bad market conditions predicted to worsen next year, the struggling automaker will downshift its production on some lines and eliminate others, prompting... More »

MORE ABOUT:
Chrysler • Cerberus Capital Management • auto industry • Big Three • bailout • financial crisis

Detroit Collapse Would
Fuel Mexican Crisis

Mexican auto industry, economy tied to America's

Dec 9, 08 10:20 AM CST
(Newser) - A Big Three collapse could spell disaster for Mexico, where the auto industry—and the economy—is tightly bound to America’s, the Christian Science Monitor reports. Mexico sends 80% of its auto-related exports to the US, and its auto industry employs more than 500,000 workers, many of whom... More »

MORE ABOUT:
Mexico • exports • auto industry • Big Three • bailout

 US May Take 
 Big Stake in Big 3 

Draft bill creates 'auto czar' for firms' reorganization

Dec 9, 08 6:40 AM CST
(Newser) - As a $15 billion auto industry rescue takes shape, the terms of the plan would give government a major stake in the Big Three and allow it to guide a bankruptcy-like restructuring process, the Wall Street Journal reports. Under the terms of draft legislation, the US could take shares worth... More »

MORE ABOUT:
Bush administration • Congress • auto industry • Big Three • bailout • rescue package

 'We're Sorry, 
 Now Pay Up,' 
 GM Tells US 

Automaker apologizes for 'betraying' consumers, makes case for bailout

Dec 9, 08 3:36 AM CST
(Newser) - Remorseful General Motors paid for a full-page ad in Automotive News to tell America: "We have disappointed you." The ailing automaker admitted to manufacturing substandard and "lackluster" products, pushing SUVs on consumers, and committing to "unsustainable" union pay, reports the Washington Post. Before the ink could... More »

MORE ABOUT:
General Motors • Michigan • automaker • apology • Big Three • US automakers • financial crisis

UPDATED

 Big 3 Bailout Plan 
 Goes to White House 

Measure has provision for watchdog, but other questions remain

Dec 8, 08 3:38 PM CST
(Newser) - A draft of the multibillion-dollar bailout agreement for the Big Three automakers went from Capitol Hill to the White House this afternoon and found a chilly reception, the AP reports. The draft legislation calls for a government watchdog appointed by the Bush administration to oversee the companies' operation, but its... More »

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Congress • Chrysler • White House • General Motors • Ford • auto industry • Big Three • congressional Democrats • bailout

 Electric-Car Makers 
 Want Fed Jolt, Too 

Troubled firms call for government aid, bigger tax credits for drivers

Dec 8, 08 10:51 AM CST
(Newser) - The electric-car industry is facing the same problems as Detroit’s needy giants—plus a few of its own, the Wall Street Journal reports. Like Big Three leaders, electric-car reps have been to Washington seeking government help; struggling industry leader Tesla Motors wants $400 million from the $25 billion energy... More »

MORE ABOUT:
electric cars • auto industry • Big Three • Tesla Motors • tax credit • bailout • financial crisis • President Obama

 Dem Leaders 
 Say OK to Auto 
 Bailout Plan 

Shocking jobs figures prompt lawmakers to support rescue

Dec 5, 08 8:19 PM CST
(Newser) - Democratic lawmakers will bail out the Big Three with billions of dollars in loans after all, the New York Times reports. Their change of heart, which comes after 2 days of auto exec hearings, was inspired by today's news that half a million Americans lost their jobs last month. Congress... More »

MORE ABOUT:
Nancy Pelosi • Congress • automaker • Big Three • bailout • auto bailout

 Chrysler Hires Bankruptcy Firm 

Privately owned automaker preparing for Chapter 11 should feds not help out

Dec 5, 08 3:00 PM CST
(Newser) - Chrysler has contracted a law firm to help it prepare for bankruptcy, the Wall Street Journal reports. The hiring of Jones Day suggests the automaker faces immediate failure if Congress decides to deny financial assistance to Detroit automakers. Jones Day has experience in automotive matters and has represented the United... More »

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Chrysler • United Auto Workers • bankruptcy • General Motors • merger • Robert Nardelli • auto industry • Big Three • Chapter 11 • law firm • financial crisis • Jones Day

 Auto Bailout Must Be
 Paid Back: Bush 

Bush supports some aid, but it must be done his way, he warns Dems

Dec 5, 08 12:14 PM CST
(AP) - Using the word "recession" for the first time to describe the US economy, President Bush today demanded that Congress adopt his approach to an auto bailout and require car companies to pay back any federal aid. But he displayed skepticism about the wisdom of new aid, saying he is... More »

MORE ABOUT:
Congress • Chrysler • General Motors • Detroit • Ford • Big Three • bailout • George W. Bush • auto bailout

UPDATED

 Big 3 Execs Finish With Senate 

CEOs to make their case to the House tomorrow

Dec 4, 08 4:14 PM CST
(Newser) - The CEOs of the Big Three wrapped up a six-hour session with the Senate Banking Committee during which they asked for a minimum of $34 billion in aid, the Washington Post reports. Chairman Chris Dodd vowed to draft a bill “in the next 24-48 hours" that stood a chance... More »

MORE ABOUT:
Chrysler • General Motors • automaker • Ford • Chris Dodd • auto industry • Big Three • Rick Wagoner • US automakers • bailout • auto bailout

 UAW Bends to 
 Boost Bailout 

Concessions meant to help Big Three win financial help from feds

Dec 3, 08 2:09 PM CST
(Newser) - The United Auto Workers agreed today to concessions that may help Detroit get $34 billion in federal assistance, the Detroit News reports. The union’s job bank—which pays eliminated employees 95% of their base salaries—will be suspended, and the UAW will delay billions in payments to its health... More »

MORE ABOUT:
Congress • United Auto Workers • General Motors • labor unions • Ron Gettelfinger • Big Three • US automakers • bailout • financial crisis

Auto Bailout Has Detractors Back in Michigan, Too

Some don't feel sorry for 'high-on-the-hog' Detroit giants

Dec 3, 08 11:19 AM CST
(Newser) - The auto industry has driven Michigan’s economy since Henry Ford set up shop, but not all residents are sympathetic to Detroit’s plight, the New York Times reports. Unemployment runs high, and some wonder where the rescue was when their livelihoods were on the line. “The car companies... More »

MORE ABOUT:
Detroit • Michigan • unemployment • auto industry • Big Three • bailout • financial crisis • auto bailout

OPINION

In DC Corral, the Big 3
Dare Congress to Shoot

Including a breakdown of the industry's ridiculous demands

Dec 3, 08 8:50 AM CST
(Newser) - 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... More »

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Chrysler • General Motors • Detroit • Ford • auto industry • Big Three • bailout • financial crisis

OPINION

 Saving Detroit: 
 It's Now or Never 

Auto industry in danger of going under while lawmakers haggle over lifeline

Dec 3, 08 7:00 AM CST
(Newser) - 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... More »

MORE ABOUT:
Congress • Chrysler • General Motors • Detroit • Ford • auto industry • Big Three • bailout

 Ford Unveils Plan, Seeks $9B 

Promises to be profitable by 2011

Dec 2, 08 11:08 AM CST
(Newser) - Ford unveiled a new plan to restructure its operations today and predicted a return to profitability—or at least break-even—by 2011, the Wall Street Journal reports. The plan calls for aggressive cost cutting and an increased focus on fuel efficiency. One of the costs on the chopping block?... More »

MORE ABOUT:
Ford • Alan Mulally • restructuring • auto industry • Big Three • bailout • Bill Ford Jr.

Big 3 CEOs Head Back to DC—This Time by Car

CEOs of America's automakers will renew plea for bailout today

Dec 2, 08 8:55 AM CST
(Newser) - The Big Three CEOs are heading back to Washington this week, and this time two of them will be driving, the Wall Street Journal reports—Alan Mulally in a Ford Escape hybrid, and Rick Wagoner in a Chevrolet Malibu hybrid. The CEOs will attempt Thursday to persuade Congress to extend... More »

MORE ABOUT:
Chrysler • General Motors • Ford • Alan Mulally • Robert Nardelli • auto industry • Big Three • hybrid car • Rick Wagoner • bailout • financial crisis • auto bailout

OPINION

 No Euphemisms: 
 Let's Nationalize GM 

Move would boost economy, environment

Dec 2, 08 8:18 AM CST
(Newser) - As Detroit extends its tin cup to DC, the government is making a lengthy list of preconditions and checking it twice. Why not keep things simple and nationalize the struggling GM? Any government loan wouldn’t be big enough, and despite all the misplaced anger directed at the Big Three,... More »

MORE ABOUT:
environment • oil • General Motors • vehicle emissions • nationalization • auto industry • Big Three • financial crisis

Once United, Big 3 Take Different Roads to Bailout

Automaker bring different bailout concerns in appeal for federal aid

Dec 1, 08 9:53 AM CST
(Newser) - When the automakers return to Congress this week to beg for a federal bailout, they’ll no longer be presenting one case among them. Each company will unveil its own rejuvenation plan, reports the New York Times. Ford, in best financial shape, wants only the promise of access to federal... More »

MORE ABOUT:
Congress • Chrysler • Congressional hearings • General Motors • automaker • Ford • Big Three • bailout • financial crisis

Put the Brakes on
Car Chiefs' Pay: UAW Boss

Loans necessary to escape temporary bind, he adds

Dec 1, 08 4:11 AM CST
(Newser) - The nation's Big Three automakers should pledge to limit executive pay—including bonuses and severance packages—in exchange for federal money, insists the president of the United Auto Workers. Ron Gettelfinger warned that everyone is going to have to tighten his belt, including the rank-and-file, in order to save jobs.... More »

MORE ABOUT:
United Auto Workers • executive compensation • Michigan • wages • automaker • labor unions • Big Three • US automakers • golden parachutes

OPINION

Want to Save Detroit?
End the Iraq War

People are dying, and more importantly, money is being lost

Nov 26, 08 11:30 AM CST
(Newser) - You don’t hear much about the Iraq war these days, though the US death toll hit 4,205 on Monday. If human life isn't a convincing enough reason to bow out, writes Roger Simon in Politico, then here's one that "really is upsetting people these days: money."... More »

MORE ABOUT:
Iraq • auto industry • Big Three • budget cuts • bailout • Iraq exit strategy

41 - 60 of 79 Stories | << Prev 1 2 3 4 Next >>


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