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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: auto bailout

auto bailout stories: 105 news summaries

61 - 80 of 105 Stories | << Prev 1 2 3 4 5 6 Next >>

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Fiat to Take 35% Stake in Chrysler, Enter US Market

No-cash deal offers platform sharing and markets to Fiat, a lifeline to Chrysler

Jan 20, 09 7:16 AM CST
(Newser) - Fiat arranged a no-cash deal with Chrysler today that could put the Italian automaker behind the wheel of Chrysler’s operations, the Wall Street Journal reports. Fiat will take a 35% stake in Chrysler with an option for 20% more. Fiat will receive a foothold in the US market, retooling... More »

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Chrysler • Toyota • General Motors • fuel efficiency • US automakers • Fiat • auto bailout

Chrysler's Loan Arm Gets $1.5B Federal Loan

Attempt to unfreeze auto-loan market is on top of $17B coming to Detroit from TARP

Jan 16, 09 4:03 PM CST
(Newser) - The Treasury Department will lend Chrysler’s financing arm $1.5 billion to encourage the struggling auto-loan market, the Washington Post reports today. The 5-year loan comes at an interest rate of about 1.36%, and carries limits on executive compensation: Chrysler Financial will have to cut its bonus pool... More »

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Chrysler • executive compensation • Treasury Department • auto industry • auto loans • TARP • auto bailout

MARKET Open

 Stocks Flat Despite Auto Help 


Dec 30, 08 8:53 AM CST
(Newser) - Stocks continued their holiday nap today, opening only modestly higher despite an expansion of the auto bailout. The Dow rose 57 points, while the Nasdaq and S&P each rose 0.6%. GM and Ford climbed11% and 2.7% respectively on news that the government would toss $6 billion to... More »

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stock market • New York Stock Exchange • General Motors • Nasdaq • Dow • auto industry • S&P 500 • auto bailout

(Newser) - The Big Three automakers are broke and begging for cash, but that's typical when you're from Detroit, Matt Labash writes in The Weekly Standard. He prepped for his visit to Dysfunction Junction by reading nightmarish stats: The city has 10,000 unsolved murders; its deficit is as high as... More »

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Detroit • debt • poverty • Big Three • auto bailout

 GM Finance 
 Arm Converts, 
 Will Tap Bailout 

Fed approves GMAC's request to become bank-holding company

Dec 24, 08 4:43 PM CST
(Newser) - The Federal Reserve today approved a request by General Motors’ financial arm to become a bank-holding company so it can petition for money from the $700 billion bailout pot, the Wall Street Journal reports. GMAC would also have access to direct Fed loans, helping loosen credit and complement the $17.... More »

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Chrysler • Cerberus Capital Management • Federal Reserve • General Motors • bank • auto industry • GMAC • financial crisis • Wall Street bailout • auto bailout

OPINION

No Hope for Detroit Until
We End Rip-Off Financing

The indebted consumer can't afford cars


Dec 24, 08 2:49 PM CST
(Newser) - Congress' plan to bail out Detroit ignores one fundamental problem: Americans owe so much on their current cars—often more than the vehicles are worth—that they can't buy new ones, writes Stephanie Mencimer in Mother Jones. Detroit—along with the "great scourge of the American consumer market: the... More »

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Congress • Detroit • car dealers • subprime crisis • auto bailout

OPINION

The US Has Become the
GM of Nations

Friedman: Stimulus must be a reboot,
not just a bailout

Dec 24, 08 6:42 AM CST
(Newser) - Last week Tom Friedman flew from Hong Kong to New York, and the contrast between the two cities' airports was "like going from the Jetsons to the Flintstones." For the New York Times columnist, American infrastructure has become a symbol for a country that, for all its... More »

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Barack Obama • infrastructure • Thomas Friedman • economic stimulus package • bailout • auto bailout

Ford Scores PR Cred by Declining Bailout Cash

By not begging to feds, but supporting Detroit mates, company well positioned

Dec 22, 08 9:05 AM CST
(Newser) - Ford’s decision not to take any of the $17.4 billion in bailout cash granted General Motors and Chrysler is paying the company public-relations dividends that could translate into cash in its showrooms when the economy recovers, Advertising Age reports. It was also a good move, analysts say, to... More »

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Chrysler • General Motors • Ford • Alan Mulally • financial crisis • auto bailout

Canada Pledges $3.3B Aid for Automakers

Feds, Ontario grant emergency loans
for its subsidiaries

Dec 20, 08 2:12 PM CST
(Newser) - A day after President Bush offered a bailout to American automakers, Canada announced plans to follow suit. The federal and Ontario governments will grant GM and Chrysler’s Canadian subsidiaries $3.3 billion ($4 billion in Canadian dollars), the Globe and Mail reports. “We cannot afford either in the... More »

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Canada • Detroit • Stephen Harper • North America • Ontario • auto bailout

OPINION

Bailouts a Fling for Nation Married to Free Market

Bailouts not a betrayal of free market ethos, really

Dec 20, 08 10:33 AM CST
(Newser) - Washington's bailout of the auto industry would normally "be a turning point in the history of American Capitalism,” writes Steven Pearlstein of the Washington Post. Now it’s business as usual in “Bailout Nation.” That doesn’t mean the US has abandoned its free market... More »

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socialism • capitalism • auto industry • free markets • bailout • auto bailout

OPINION

This Ain't Charity: Detroit Must Win Consumers Back

Americans will get back on board if auto giants prove they can make good cars again

Dec 19, 08 4:51 PM CST
(Newser) - With a $17.4 billion bailout in hand, Detroit must now turn toward restructuring and making the cars America needs, Mark Phelan writes in the Detroit Free Press. “To win back American buyers’ respect,” Phelan continues, “the automakers must show the aid package was a sound investment,... More »

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Chrysler • General Motors • Detroit • fuel efficiency • Ford • auto industry • Big Three • auto bailout • Mark Phelan

 Bush: Auto Bailout
'Not Ready' 

Deal seems to be grinding gears

Dec 15, 08 3:58 AM CST
(Newser) - The federal auto industry bailout appeared to be stuck in neutral as President Bush warned today that a deal is not imminent. "We're not quite ready to announce that yet," Bush told reporters on a plane to Afghanistan. Lawmakers expected the administration to quickly reallocate part of the... More »

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Bush administration • US economy • auto industry • Big Three • bailout • job • George W. Bush • financial crisis • Wall Street bailout • auto bailout

(Newser) - The defeat of the Detroit bailout bill by Senate Republicans is seen by some in Washington as a preemptive strike against organized labor, the Los Angeles Times reports. The GOP framed their opposition partly as a message to the United Auto Workers, claiming high wages were the cause of Detroit’... More »

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Congress • United Auto Workers • Detroit • GOP • Big Three • bailout • organized labor • auto bailout

 Meet the GOP's 
 Auto Bailout Busters 

A union-busting, foreign-car loving crew is holding up Detroit's rescue 

Dec 13, 08 2:15 PM CST
(Newser) - With Nissan, Toyota, Volkswagen and other foreign factories dotting the I-65 corridor stretching from Kentucky to Alabama, southern Republican senators relished this week's chance to take a swing at Detroit and the UAW simultaneously. The "bailout fell victim to a nasty confluence of home-state economic interests and anti-union sentiment,... More »

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Toyota • Mitch McConnell • Nissan • Richard Shelby • auto industry • Big Three • Bob Corker • auto bailout

 Japan, EU Boost 
 Economies as 
 Bailout Dies 

New stimulus packages announced to avert global paralysis

Dec 12, 08 7:16 AM CST
(Newser) - Japan and the European Union announced new measures to bolster their economies in the wake of the collapse of the US auto industry bailout. The Japanese government multiplied its bank recapitalization fund sixfold, to $131 billion, and announced an $11 billion package to save jobs. "We are working at... More »

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Japan • European Union • auto industry • economic stimulus package • financial crisis • economic downturn • auto bailout

MARKETS

 Stocks, Dollar 
 Dive as 
 Bailout 
 Collapses 

Markets fall in Asia, Europe; car companies lead declines

Dec 12, 08 4:19 AM CST
(Newser) - Asian markets dove today, and European exchanges opened down as the Senate abandoned efforts to bail out the American auto industry. The Nikkei in Tokyo and the Hang Seng in Hong Kong both closed down about 5.5%, with major exporters like Toyota and Sony leading declines. The bailout's collapse... More »

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markets • Nikkei • Hang Seng • Asian stocks • auto industry • European stocks • auto bailout

EDITORIAL

 Dark Day for Detroit 

Bailout collapse leaves state fretting over future

Dec 12, 08 2:36 AM CST
(Newser) - Detroit's bailout has crashed and burned, casting a pall on Michigan's future, the Detroit Free Press writes. The state knows the pain that comes with tough times in the auto industry all too well, and it's "incredible" that any American lawmaker "could want to watch these hard times... More »

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Chrysler • United Auto Workers • General Motors • Detroit • Michigan • Ford • auto industry • US automakers • bailout • auto bailout

As GOP Stiffens, Auto Bailout Prospects Hit the Skids

McConnell, GOP move further away from supporting Detroit aid

Dec 11, 08 3:59 PM CST
(Newser) - As Republican resistance to the $14 billion auto-industry bailout mounted, proponents flogged today's dismal unemployment figures to bolster their case, Politico reports. Mitch McConnell abandoned the White House, which continued to push the bill; the Senate minority leader unexpectedly said the measure "promises taxpayer money today for reforms that... More »

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Chrysler • General Motors • Mitch McConnell • Ford • auto industry • Big Three • bailout • auto bailout

OPINION

No More Bailouts, Detroit or Otherwise: Learn the Lesson

Yes, there will be pain, but saving irresponsible companies bad for US future

Dec 11, 08 12:41 PM CST
(Newser) - Given the failure of the Wall Street bailout, to think doing the same for Detroit would help the auto industry and America in the long run is fantasy, Kevin O’Brien writes in the Cleveland Plain Dealer. The only thing that will help is to feel the pain. “No... More »

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Congress • Wall Street • Detroit • auto industry • Big Three • bailout • financial crisis • auto bailout

House Likely
to Vote on
Auto Bailout This Afternoon

Senate likely tomorrow; GOP has harsh words

Dec 10, 08 12:41 PM CST
(Newser) - The House is ready to vote on a $15 billion bill to rescue GM and Chrysler as early as this afternoon, the Detroit News reports. The Senate, meanwhile, is likely to vote tomorrow morning. “My understanding is it is done, but the piece of paper is not before... More »

MORE ABOUT:
Congress • Chrysler • Harry Reid • General Motors • Mitch McConnell • David Vitter • auto industry • bailout • auto bailout

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