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Not content with $25 billion in government loans to retool factories for fuel-efficient cars, the auto industry is already back at the trough, this time angling for a taxpayer investment in the firm that would result from a merger of General Motors and Chrysler.
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Column | Government will make money on its bank investment, but GM-Chrysler is a lemon.
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The White House threw its support behind a plan to speedily release of $25 billion in existing loans to U.S. automakers, but rejected a Democratic proposal to use money from a financial bailout.
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WASHINGTON -- If it's no surprise that Michigan lawmakers are behind the pitch for a $25 billion lifeline for Detroit automakers, then it might be just as predictable that Southerners would be leading the charge against it.
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WASHINGTON -- Desperate for a $25 billion government rescue package, U.S. automakers and their allies in Washington are warning that U.S. national security would be harmed if Detroit goes under and takes its vast chain of parts suppliers along with it.
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Faced with the choice of bailing out the ailing auto industry or letting it fail, Congress picked a brave third option: procrastination
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When Detroit's Big Three automakers return to Capitol Hill next week to re-plead their case for a $25 billion emergency loan, they may be flanked by a posse of supporters.
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Rep. Thaddeus McCotter joins Lou Dobbs to discuss his support of a bailout for automakers in Detroit.
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DETROIT/WASHINGTON (Reuters) - Distressed U.S. automakers began submitting plans to Congress on Tuesday as they tried to show that they have a viable future and deserve federal aid, while new reports showed that vehicle sales continued their freefall in November.
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Fearing Washington's proposed $25 billion rescue plan could give struggling U.S. carmakers an advantage, European policymakers look for ways to support their own automotive industry
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Washington Post columnist Steven Pearlstein will be online to discuss the automotive bailout.
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Yesterday, GM, Ford and Chrysler released official plans to Congress in hopes of securing federally backed loans to survive. Both GM and Chrysler say that without immediate cash – meaning, within the next month — the companies will go out...
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The heads of the "Detroit Three" carmakers will be back on Capitol Hill today looking for a multi-billion dollar bailout.
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A Senate panel considering assistance for Detroit's "Big 3" automakers showed that it still has a great deal of skepticism about the prospect of federal assistance for the ailing industry. The top Democrat on the panel signaled support for the automakers, saying that the industry is vital for the country and that money they are asking for is small compared to what has been given to the banking industry. Still, the committee's top Republican said he did not plan to support an auto bailout. Sen
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According to a new data published by CNN, 61 percent of some 1100 people polled are opposed to a government-assisted bailout for the U.S. automakers—kind of a hot topic these days. The news organization noted that some 70 percent of those asked believe that a bailout is unfair to taxpayers, without having a great chance of really helping the economy. Do you believe that an automotive bailout is a good thing, a bad thing? Is it something that has to happen to preserve our nation’s strong middle class, or simply another roll of the dice on companies that have proved failures in the past? Give us your take, in comments.
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Dec. 5 - The U.S. auto industry's drive for a $34 billion emergency taxpayer bailout appears to be stuck in neutral.
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The White House said Saturday talks with the Democratic congressional leadership on aid to automakers would continue this weekend.
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Help may soon be on the way to the struggling U.S. auto industry after House Speaker Nancy Pelosi backed off her opposition to using funds from a fuel-efficiency research program for a bailout, two congressional officials said Friday.
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Pelosi moves to help make auto bailout a reality; Obama talks more about recovery plan.
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Congressional Democrats were weighing options for government control of the auto industry, including the possible creation of an oversight board.
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DETROIT (Reuters) - With sport-utility vehicles at the altar and auto workers in the pews, one of Detroit's largest churches on Sunday offered up prayers for Congress to bail out the struggling auto industry.
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While Congress debated aid to the foundering Detroit automakers Sunday, many whose future hinges on the decision turned to prayer.
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Congressional Democrats were weighing options for government control of the auto industry.
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Congressional Democrats were drafting legislation for government control of the auto industry, including the possible creation of an oversight board.
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The White House said it was "very likely" to reach agreement today with congressional Democrats on a package of emergency assistance for the Big Three Detroit auto makers, as lawmakers continued work on a plan to extend $15 billion in emergency loans in return for close federal oversight of the industry.
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The White House and congressional Democrats yesterday reached an "agreement in concept" on a measure that would throw a government lifeline to the faltering Detroit auto industry but require the auto giants, their workers and creditors to quickly negotiate a plan to achieve profitability or face ...
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NEW YORK -- Wall Street regained some of its optimism Wednesday and advanced on expectations that Congress will extend a lifeline to U.S. automakers and avoid a potential pitfall for the economy.
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The White House and Democrats agree to a $15-billion plan, but 'bailout fatigue' looms. The White House and Democratic congressional leaders reached broad agreement on a $15-billion auto industry bailout measure Tuesday night, but continued to negotiate details as they aimed at their next challenge: persuading deeply suspicious members of Congress to go along with another government handout to big business.
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A little-noticed provision in the proposed bailout plan for Detroit’s automakers blesses an aggressive tax shelter sold by large banks and insurers to municipal transit agencies across the country.
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DETROIT (Reuters) - William Ford, an unemployed auto worker, grew angry and resigned and then angry again when he thought about the political debate that has stalled a bailout for the once-proud automakers that built Detroit.
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Despite continued pleas from President Bush and President-elect Obama, Congress has yet to pass a rescue package for Detroit's struggling automakers. Sharyl Attkisson reports from Washington.
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