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automaker bailout

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

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    First draft of Automaker Bailout Bill is out
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    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 the first discussion draft of the bill has hit the internet. The discussion bill is 31 pages long, ...

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    NYT argues GM engineered its own downfall
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    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 fleet of electric EV1s for three years before deciding it would never turn a profit. Honda and ...

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    Would GM shed Saab, Saturn and Pontiac to secure gov't aid?
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    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 get the honey. In GM's case, the honey is a $12 billion government lifeline. The dangerous span is, ...

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    Aw Snap! Congressional Democrats undercut compromise bailout bill
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    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 reached an agreement on a compromise bailout bill for automakers. They were set to announce ...

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    BREAKING: Automaker bailout agreement reached in Senate, still not a sure thing [UPDATE]
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    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 ...

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    Calling for GM bailout may cost Wagoner his job
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    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 ...

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    Detroit CEOs and UAW chief summoned to Washington
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    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 ...

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