Ray Young

(Newser) - General Motors won’t make a $1 billion payment on its debt June 1, an exec told the Wall Street Journal today, and will instead try to swap it for stake in the company—or turn to courts for protection. “They want us to be a viable entity when...

(Newser) - The slumping US  economy is casting shadows over the New York Auto Show, as industry forecasters this week cut their projections for sales of new cars and light trucks in 2008 to less than 15 million, the lowest level in 14 years. Chrysler, GM, and Ford, who had been projecting...