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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: auto bailout

auto bailout stories: 105 news summaries

81 - 100 of 105 Stories | << Prev 1 2 3 4 5 6 Next >>

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Calls Build for GM's Wagoner
to 'Move On'

Dodd, Obama hint a change at the top is in order to get bailout

Dec 8, 08 6:31 AM CST
(Newser) - Sen. Chris Dodd wants General Motors CEO Rick Wagoner “to move on” and a new management team in place if a government bailout is going to move forward, reports the Wall Street Journal. While not making it an outright condition for a rescue package, the Connecticut Democrat told... More »

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General Motors • Chris Dodd • auto industry • Rick Wagoner • bailout • financial crisis • auto bailout

 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 »

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Nancy Pelosi • Congress • automaker • Big Three • bailout • auto bailout

 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 »

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

 Automaker Bankruptcy Would Be 'a Disaster': Frank

Debate rages on auto bailout

Dec 5, 08 11:02 AM CST
(Newser) - The CEOs of the Big Three are back on Capital Hill this morning testifying before the House Financial Services Committee, and Barney Frank at least seems sympathetic. The chairman said bankruptcy “would be a disaster,” given the current credit markets and today’s dire job report, adding that... More »

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Congress • bankruptcy • House Financial Services Committee • Barney Frank • auto industry • bailout • Paul Kanjorski • Gary Ackerman • 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 »

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

UPDATED

Big 3 Would Agree to Oversight if Bailed Out

CEOs admit bad management

Dec 4, 08 1:07 PM CST
(Newser) - Detroit’s Big Three automakers would accept federal oversight in return for financial support, the Wall Street Journal reports. The chiefs of GM, Ford, and Chrysler all said that they would accept a bailout styled after that of Chrysler in the late ‘70s, which put the firm under the... More »

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Chrysler • General Motors • oversight • Ford • auto industry • Rick Wagoner • bailout • auto bailout

 Dodd Endorses 
 Big 3 Bailout 
  as CEOs Hit Hill Again 

Senate Democrat enlisted to work on compromise package

Dec 4, 08 10:57 AM CST
(Newser) - 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... More »

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Congress • Chrysler • Harry Reid • Senate Democrats • General Motors • Detroit • Ford • Chris Dodd • auto industry • bailout • financial crisis • auto bailout

GM, Chrysler Mull 'Packaged' Bankruptcy to Get Bailout

Execs say that's 'way down the list,' but Detroit desperate for federal bailout

Dec 4, 08 9:45 AM CST
(Newser) - Bankruptcy is officially on the table for General Motors and Chrysler, a source tells Bloomberg. The companies may accept a pre-packaged bankruptcy, which would force the union and creditors to make concessions, in order to get government help. At least three congressmen have had their staffs explore the possibility. GM... More »

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Chrysler • bankruptcy • General Motors • auto industry • Rick Wagoner • bailout • financial crisis • auto bailout

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 »

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Detroit • Michigan • unemployment • auto industry • Big Three • bailout • financial crisis • auto bailout

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 »

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

South Short on Sympathy for Detroit's Woes

Dixie welcomes foreign automakers and disses Big 3 bailout

Nov 29, 08 6:37 AM CST
(Newser) - West Point, Georgia, looks a lot like Main Street USA but its people aren't overflowing with pity for the struggling American auto industry, the Los Angeles Times reports. Kia Motors is building a plant in the town and residents are looking forward to new jobs and learning to love Korean... More »

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Georgia • automaker • union • Kia • auto industry • bailout • Southern United States • auto bailout

GM Board
Would Consider Bankruptcy

Directors differ with CEO Wagoner as automaker struggles

Nov 22, 08 8:11 AM CST
(Newser) - Some General Motors’ directors are willing to consider bankruptcy protection as an option for the failing automaker, the Wall Street Journal reports, marking an unusual disagreement with CEO Rick Wagoner. Wagoner told Congress repeatedly this week, in seeking an immediate financial bailout, that reorganizing through a Ch. 11 bankruptcy is... More »

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Congress • bankruptcy • General Motors • Rick Wagoner • bailout • board of directors • auto bailout

 Bailout Wait 'Nerve-Wracking' 

Hearings 'more hostile than expected,' says Wagoner

Nov 21, 08 1:50 AM CST
(Newser) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to... More »

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Congress • bankruptcy • General Motors • Detroit • restructuring • auto industry • Rick Wagoner • bailout • economy • auto bailout

OPINION

 Auto Execs Hit Turbulence Over Private Jets

Legislators put screws to extra-shiny tin cups

Nov 20, 08 7:49 AM CST
(Newser) - Take three auto execs, add the private jets each took to a Capitol Hill hearing to beg for a federal bailout, and you get a recipe for the heaping helping of humble pie legislators served up, writes Dana Milbank in the Washington Post. "There's a delicious irony in... More »

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Chrysler • executive compensation • General Motors • Ford • auto industry • private jet • financial crisis • Dana Milbank • auto bailout

Senate GOP Crafts Own Auto Bailout Package

Plan would repurpose $25B fuel-efficiency carrot already passed

Nov 19, 08 1:47 PM CST
(Newser) - Senate Republicans are crafting legislation that would repurpose an already-approved $25 billion Energy Department initiative to bail out struggling automakers, the Detroit News reports. The plan is at odds with Democratic efforts, which would use money from the $700 billion Wall Street bailout to help Detroit. The Energy money was... More »

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Congress • Chrysler • Senate • General Motors • Detroit • Mitch McConnell • Ford • credit crisis • auto industry • bailout • auto bailout

OPINION

Wagoner: Why the US Should Bail Detroit Out

Detroit making better cars—and has broad roots in US economy

Nov 19, 08 10:40 AM CST
(Newser) - An aggressive agenda of cost-cutting combined with research and development of new technologies has reshaped the US auto industry in recent years, General Motors CEO Rick Wagoner writes in the Wall Street Journal. And with the industry’s deep, broad roots in the US economy, government aid will help it... More »

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General Motors • Rick Wagoner • bailout • financial crisis • auto bailout

OPINION

What a Detroit Bankruptcy + Bailout Should Look Like

And what the bailout might look like

Nov 19, 08 10:14 AM CST
(Newser) - Barack Obama isn’t in the Oval Office yet, but he’s already passed his first presidential test “with flying colors,” in Steven Pearlstein’s book. With Democrats ready to roll over for the not-so-big three, and Republicans stonewalling, Obama broke the stalemate with just the right bankruptcy-then-bailout.... More »

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Barack Obama • auto industry • Big Three • bailout • Steven Pearlstein • President Obama • auto bailout

(Newser) - The CEOs of the Big Three automakers told the Senate today that a $25 billion bailout of the industry is necessary to prevent "catastrophic" effects on the economy, the New York Times reports. “If the domestic industry were allowed to fail,” said GM's Rick Wagoner, it... More »

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Congress • Chrysler • Senate • General Motors • Detroit • Ford • Chris Dodd • Alan Mulally • Robert Nardelli • credit crisis • Rick Wagoner • Senate Banking Committee • bailout • auto bailout

OPINION

Let Detroit Go Bankrupt:
Brooks, Krauthammer

Auto bailout throws good money after bad, goes against US capitalism itself

Nov 14, 08 12:31 PM CST
(Newser) - American prosperity relies on creative destruction—the failure of nonviable companies and their replacement by defter rivals. The government endeavors to protect the worker in periods of transition, writes David Brooks in the New York Times, but not the firms themselves. That’s why the auto-industry bailout is a bad... More »

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Chrysler • bankruptcy • General Motors • Ford • auto industry • bailout • cars • auto bailout

Chrysler Execs to Get $30M
in Retention Bonuses

Will auto bailout change that?

Nov 14, 08 10:11 AM CST
(Newser) - Even as nearly bankrupt Detroit automakers beg Congress for a bailout, Chrysler is preparing to pay its top executives $30 million in retention bonuses, the Detroit Free Press reports. Chrysler says the deals were necessary measures to keep top talent in place when they were conceived last year during... More »

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Chrysler • DaimlerChrysler • executive compensation • bonuses • auto industry • bailout • auto bailout

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