auto industry bailout


France's Sarkozy urges verification that U.S. auto aid jibes with world trade rules

The European Union made noises last year about having the WTO verify that the U.S. auto industry assistance package doesn't violate any international trade rules. Now French President Nicolas Sarkozy has said he will ask the World Trade Organization to stick their hands into the matter. Critics suggest that this could be a diversionary tactic – Sarkozy himself was accused of violating trade rules with his proposed assistance to Renault and PSA Peugeot/Citroen. Or it could be a way to see if both the proposed French and U.S. proposals ... Read more →

Saab not long for the U.S. market, GM unsure of other brands' futures Jonathon Ramsey

Let's go ahead and get it out there: General Motors doesn't have a plan for Saab, Saturn, or HUMMER – it has a bunch of hopes, ideas and proposals. The best that GM can do with Saab is try to ...

UAW agrees to suspend GM job banks on Feb 2 Jonathon Ramsey

The UAW idled Chrysler's jobs bank earlier this week, and as of February 2, the UAW and General Motors will shut down the job bank it also maintains for its workers. GM is paying the 1,600 workers ...

GM warns it could be out of cash by March 31 if second $5.4M loan is delayed Jonathon Ramsey

General Motors is ringing the alarm bell over a delay in the second installment of its bridge loan. Chrysler faced the same thing when it was waiting on its first installment, but eventually got its ...

REPORT: French government calls for auto execs to forego bonuses Jonathon Ramsey

The French government has put €6 billion ($7.79 billion USD) on the table for car companies. And as part of the effort to make sure that every drop of the money goes toward maximizing performance ...

Does Washington's GMAC bailout hurt Ford? 10 months ago on Autoblog

The Wall Street Journal puts forth the case that the government's $5 billion lifeline to GMAC has given GMAC a competitive advantage compared to its rivals. After the taxpayer cash was received, GMAC dropped the required credit score to get a loan and began offering 0% financing on several models, ...

Industry crunch hitting design students hard 10 months ago on Autoblog

Another casualty in the collateral damage of auto industry woes: Graduating car designers are no longer finding jobs. The LA Times reports that in years past, manufacturer representatives would attend the Pasadena's Art Center College of Design's senior showcase and welcome a few visionaries into ...

Canada officially approves its own $4 billion auto aid package 10 months ago on Autoblog

True to their word, the Canadians came through with an aid package to support the auto industry, namely GM and Chrylser. The amount to be loaned is $4 billion Canadian, with $2.7 billion coming from the national government and $1.3 billion coming from Ontario, where much of the industry is based. ...

Porsche head predicts a hedge fund will swallow GM or Ford 11 months ago on Autoblog

Little guy Porsche is taking huge swings, and not just at the giant that is Volkswagen. Porsche head Wendelin Wiedeking had fierce Teutonic words for General Motors and Ford, and banks. His Rindfleisch – beef, that is – with U.S. automakers is that, through unsound practices, they have ...

UAW head says that unions aren't to blame for Detroit's problems 12 months ago on Autoblog

Ron Gettelfinger's basically saying "it's not our fault" when discussing the state of Detroit's automakers. Rather than admit that the UAW's plum labor agreements and contentious negotiations have contributed to the current gloomy situation, the United Auto Workers head man says that the economic ...






Autoblog Podcast #152: Paukert Enhanced!

Chris Paukert joins the usual crew of Chris, Sam, and Dan, summarily classing up the joint.

 
 

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