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Black Friday may have been better than most expected, but we’re still not expecting to hear good news about car sales when automakers release their November numbers tomorrow. There’s also a lot of talk about those pesky corporate jets, shedding...
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The biggest news about a potential auto industry bailout is the fact that there is potential for a bailout. Congressional leaders, the Bush Administration and others are working on a plan that would put $15 billion towards keeping GM and...
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WASHINGTON (Reuters) - Republican presidential candidate John McCain on Sunday declined to embrace the idea of $15 billion more in government aid for the struggling U.S. automobile industry but did not rule it out.
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GM is asking the government to support a purchase of Chrysler.
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Advocates for the nation's automakers are warning that the collapse of the Big Three — or even just General Motors — could set off a catastrophic chain reaction in the economy.
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As the struggling Detroit automakers await a potential multi-billion dollar bailout package from Washington, Finance Minister Jim Flaherty said Thursday that Canada's ailing auto sector shouldn't expect a similar plan from Ottawa.
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Industry Minister Tony Clement says the Canadian government won't be offering a short-term bailout to Canadian auto makers, but would help the industry transform itself so it makes "cars that people actually want to buy."
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German automaker Opel, a subsidiary of the existentially threatened American firm General Motors, is trying to get the German government to secure its future. Its request raises a number of prickly issues.
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Lame Duck congress returns and Dems want to help automakers.
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Uncertainty over bailout plan for US auto industry
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China’s car industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives said.
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China’s car industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives said.
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CNN's Ali Velshi looks at what a restructuring of the U.S. auto industry could mean for the economy.
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The knife wounds hitting America's auto companies are bleeding over the Canadian border.
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Chances of a billion-dollar bailout deal for US carmakers improved after downbeat reports on US jobs spurred talks between the White House and Democratic lawmakers.
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Obama and Congress look to complete an auto industry bailout plan.
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Automakers will get 15 billion US dollars, far less than they were asking for, and must agree to a "car czar" to oversee how bailout money is spent.
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The White House and Congress said on Tuesday they had agreed on the outline of a 15-billion-dollar bailout plan for the US auto industry but added that negotiations on the content of the future bill were still going on.
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With Congress considering lending $15 billion in taxpayer money to the Big Three, some in Congress are worried the automakers will spend part of it overseas.
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The big 3 automakers are in trouble. Their CEO's have asked both Canada and U.S lawmakers to bail them out of the crisis. And domestic car dealers in Nova Scotia are trying to keep their customers, by reminding them how much the dealerships contribute to the local economy. We are interested in your thoughts on this story. Should we bailout the auto industry?
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The $14-billion measure faces an uncertain fate in the Senate, where Republican opposition remains strong. The House approved a $14-billion bailout for U.S. automakers Wednesday after the White House and Democratic leaders finalized a deal empowering a government "car czar" to force the companies into bankruptcy by next spring if they don't restructure.
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The bill to give carmakers $14 billion in emergency loans faces stiff opposition from GOP lawmakers. It will provide some breathing room, not solve the industry's woes. The White House and congressional Democrats may have agreed on a bill to help the beleaguered Detroit automakers, but the political and economic paths to any resolution are still far from smooth.
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Transforming the U.S. auto industry into a profitable, innovative sector is likely to take more than the emergency loans approved by the House last night. Business leaders and industry analysts said the companies will also need further government assistance to get customers back in showrooms and stimulate demand for energy-efficient vehicles.
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The US House of Representatives has approved a 15-billion-dollar rescue plan for the "Big Three" US car manufacturers. The measure now moves to the US Senate, where it is expected to face stiffer Republican opposition.
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As the US moves to bail out its own auto industry, German automakers fear they will be left behind. They are demanding a similar package in Germany and may also seek aid in the US for German carmakers active on the American market.
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Republicans U.S. Rep Rodney Frelinghuysen (R-Harding) and U.S. Rep. Chris Smith (R-Hamilton) joined the entire Democratic Party congressional delegation from New Jersey to vote in favor of the $14 billion auto industry bailout tonight. The bailout passed in the U.S. House by a vote of 237 to 170, mostly along party lines, with only 32 Republicans joining Democrats to vote in the affirmative. U.S. Rep. Frank LoBiondo (R-Vineland), U.S. Rep. Jim Saxton (R-Burlington), U.S. Rep. Mike Ferguson (R-New Providence) and U.S. Rep. Scott Garrett (R-Wantage) all voted against the bailout package.
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President-elect Obama, in a released statement on the Senate's failure yesterday to approve a government loan to the auto industry: "I am disappointed that the Senate could not reach agreement on a short-term plan for the auto industry. I share the frustration of so many about the decades of mismanagement in this industry that has [...]
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United Auto Workers President Ronald A. Gettelfinger lashed out against Senate Republicans a day after a congressional compromise on an auto industry bailout failed, accusing the lawmakers of trying to "pierce the heart of organized labor."
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Because the proposed automaker bailout died in the Senate, President Bush might change his opposition to using Wall Street funds for the Big Three U.S. car manufacturers, White House says. With General Motors and Chrysler near bankruptcy and the failure of a $14-billion bailout bill for U.S. automakers, the White House was preparing to step in with short-term aid to prevent what could be a catastrophic hit to the economy.
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In case you haven’t turned on the radio, TV or read one news website this morning, the controversial auto bailout bill failed in the Senate last night. That leaves a lot of people wondering about the future of the industry,...
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President Bush's statement on his administration's plan to give $17.4 billion to the auto industry.
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WASHINGTON -- Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers.
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WASHINGTON (AP) -- Citing imminent danger to the national economy, President Bush ordered an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans and demanding tough concessions from the deeply troubled carmakers and their workers. Detroit's Big Three cheered the action and vowed to rebuild their once-mighty industry, though they acknowledged the road would be anything but smooth as they fight their way back from the brink of bankruptcy....
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