automaker bailout


Official: GM shrinking to four brands; Pontiac to four models

In an interview Sunday with Automotive News (sub. req'd), Troy Clarke, GM's North American president, said that General Motors will be able to make good on its promise to Congress to drastically cut costs. Clarke said that GM will now focus its "product and marketing resources" on Buick, Chevrolet, Cadillac and GMC. That would leave Pontiac, Saturn, Saab and HUMMER in automotive limbo. As part of that same plan presented to lawmakers, GM said it would sell or close Saturn. And since no one has yet stepped forward with cash, the future is not at ... Read more →

First draft of Automaker Bailout Bill is out John Neff

The House of Representatives and the Senate will discuss and likely vote on the Automaker Bailout Bill (we know, it's not technically a bailout, but rather loans that will be paid back) tomorrow, and ...

NYT argues GM engineered its own downfall Chris Tutor

Ten years before Chrysler introduced the world to minivans, General Motors had already developed its own version. Toyota sold the Prius at a loss for years before it became popular while GM leased a ...

Would GM shed Saab, Saturn and Pontiac to secure gov't aid? Jonathon Ramsey

When ants need to cross some dangerous span in order to get to the thing they want, certain ants in the colony will sacrifice themselves to build a bridge that other ants can cross. That's how you ...

Aw Snap! Congressional Democrats undercut compromise bailout bill John Neff

Wow, what an amazing piece of political theater that just went down. As we reported, four senators from auto producing state (two Democrats and two Republicans) led by Michigan Senator Carl Levin have ...

BREAKING: Automaker bailout agreement reached in Senate, still not a sure thing [UPDATE] 1 year ago on Autoblog

CNBC is reporting that four U.S. senators have reached a bipartisan agreement on a bill to help the Big 3 automakers in Detroit. Those senators include Michigan Democrats Carl Levin and Debbie Stabenow, Ohio Republican George Voinovich and Missouri Republican Christopher Bond. Details of the bill ...

Calling for GM bailout may cost Wagoner his job 1 year ago on Autoblog

General Motors' CEO, Rick Wagoner, who's been manning the helm for the last eight years and a part of its staff since 1977, has taken some heat for asking the Feds for a bailout. A possible condition for those funds may be the symbolic sacrificial death of its current leader, according to a slew of ...

Detroit CEOs and UAW chief summoned to Washington 1 year ago on Autoblog

When Congress wants to hand out money, it apparently wants to include everybody. Barney Frank, Chairman of the House Financial Services Committee, is likely to propose a measure that lets automakers tap into the $700 billion vein of rescue dollars that's ostensibly intended for financial ...






Autoblog Podcast #157: Mike Levine trucks along with us.

Mike Levine from PickupTrucks.com joins Chris, Sam, and Dan this week and gets a chance to talk about cars, too! 

 
 

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