Monday, October 27, 2008 White House says Big Three financing arms could get bailout David Shepardson / Detroit News Washington Bureau WASHINGTON — The White House said Monday automakers’ financial arms could get a government bailout. White House spokeswoman Dana Perino said that GMAC, Ford Motor Credit and Chrysler Financial could be part of the [...]
Monday, October 27, 2008 GM downgraded by Moody’s Robert Snell / The Detroit News Moody’s Investors Service lowered General Motors Corp. two ratings on Monday, citing the slumping U.S. auto industry and the automaker’s eroding liquidity. The Detroit automaker, already rated sub-investment grade, is battling one of the worst auto markets in decades. Moody’s said [...]
Monday, October 27, 2008 GM temporarily idles two plants Associated Press DETROIT — General Motors Corp. will temporarily close two factories for one week each in the coming months to keep inventory in line with lower demand, the company said Monday. Spokesman Tony Sapienza said the Detroit-Hamtramck Assembly Plant will be idled for one week [...]
GMAC wants to be part of federal rescue program queryvar=”gmac,wants,to,be,part,of,federal,rescue,program”; Harry Stoffer Automotive News | October 27, 2008 – 3:41 pm EST WASHINGTON — GMAC Financial Services wants to be part of the federal government’s $700 billion rescue of the nation’s financial system, the company said today. "GMAC has been in discussions [...]
GM to temporarily idle 2 more plants queryvar=”gm,to,temporarily,idle,2,more,plants”; Jamie LaReau Automotive News | October 27, 2008 – 4:08 pm EST DETROIT — General Motors has told employees at its Detroit-Hamtramck and Bowling Green, Ky., plants that they will have an extra down week this year. GM spokesman Tony Sapienza said, "The market [...]
Monday, October 27, 2008 GM says no timetable for Chrysler deal Robert Snell / The Detroit News DETROIT — General Motors Corp. Vice Chairman Bob Lutz said this morning there is no timetable to strike a deal to acquire rival Chrysler LLC and he declined to address most other questions about a potential deal between [...]
Va. dealers turn to local credit unions queryvar=”va,dealers,turn,to,local,credit,unions”; Lindsay Chappell Automotive News | October 27, 2008 – 12:01 am EST Wright: Teaming with rivals PRINTED FROM: http://www.autonews.com/apps/pbcs.dll/article?AID=/20081027/ANA06/810270356/1142&template=printart window.resizeTo(“600″, “700″); window.moveTo(“60″, “60″); if (!window.print) { document.write(‘To print this article open the file menu and choose Print.’); } else { setTimeout(“self.focus(); window.print()”, 2000);} Entire contents ©2008 [...]
Big pickups, SUVs gain share Companies stick to small-car plans queryvar=”big,pickups,suvs,gain,share”; Jamie LaReau and Lindsay Chappell Automotive News | October 27, 2008 – 12:01 am EST ENLARGE DETROIT — After hitting bottom in May and June, U.S. market shares for full-sized pickups and SUVs have rebounded. But automakers aren’t celebrating. In September, full-sized [...]
Anxiety over Chrysler: Deal or no deal? queryvar=”anxiety,over,chrysler:,deal,or,no,deal?”; Jesse Snyder Automotive News | October 27, 2008 – 12:01 am EST Chrysler LLC’s stakeholders are afraid. Cerberus Capital Management acknowledges that it is negotiating with General Motors about a merger, and media reports have speculated that Chrysler is negotiating with Nissan. Chrysler co-President Jim [...]
GM and Chrysler mull job-sparing deal for U.S. aid queryvar=”gm,and,chrysler,mull,job-sparing,deal,for,us,aid”; Automotive News | October 27, 2008 – 12:01 am EST DETROIT (Reuters) — General Motors and Chrysler LLC’s owners are discussing a merger that would keep some of Chrysler’s operations intact and save jobs with the aim of securing U.S. government financial aid the [...]
Chrysler dealers under GM? States would rule queryvar=”chrysler,dealers,under,gm?,states,would,rule”; Donna Harris Automotive News | October 27, 2008 – 12:01 am EST If General Motors acquires Chrysler LLC, state franchise laws would impose tight limits on GM’s ability to kill brands or dump large numbers of dealers. Under those laws, GM would have to [...]
Monday, October 27, 2008 Chrysler deal may rely on fed aid As GM executives pursue acquisition, experts say government assistance may be crucial. Christine Tierney and David Shepardson / The Detroit News Talks between Chrysler LLC owner Cerberus Capital Management LP and suitors for the automaker are progressing at a rapid clip, say people familiar [...]
